The Canadian Dollar was dragged in both directions on Friday, rising and then falling as market flows clash with fresh threats of tariffs on Canada from US President Donald Trump.
Silver price hits a five-month high but retreats toward the $34 figure late on Friday, as traders brace for the weekend, eyeing a busy economic schedule in the United States (US).
Gold price rallied sharply on Friday, hitting a new record high of $3,086 amid uncertainty over US trade policy, alongside an uptick in the Federal Reserve's (Fed) preferred inflation gauge.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of currencies, is currently flat near 104.30 on Friday following the release of the Federal Reserve’s (Fed) preferred inflation metric — the Personal Consumption Expenditures (PCE) Price Index.
The Mexican Peso (MXN) prolongs its agony in the week, depreciating against the US Dollar (USD) after Banco de Mexico (Banxico) reduced interest rates but also paved the way for additional easing.
The Dow Jones Industrial Average (DJIA) backslid over 700 points on Friday, falling 1.75% and tumbling to 41,500 after core Personal Consumption Expenditure (PCE) inflation figures accelerated in February.
EUR/USD extended its upward trajectory on Friday, moving near the 1.0830 region after the European session and toward the upper end of the day’s trading range.
The Pound Sterling remains firm, hovering around 1.2950 against the US Dollar, virtually unchanged, as traders digest the latest inflation report from the United States (US), amid uncertainty about a potential trade war escalation following Trump's imposition of tariffs on cars.
San Francisco Fed President Mary Daly maintains that two rate cuts this year remain a reasonable projection, but with robust economic indicators, policymakers can hold off on reducing rates until they evaluate how businesses adapt to tariff costs.