Blogs

Major European equity indexes broadly gained ground on Friday, stepping up ahead of the trading week’s close after UK Gross Domestic Product (GDP) grew more than expected.

The Australian Dollar (AUD) registered minuscule gains against the US Dollar (USD) on Friday, shrugging off risk aversion due to tensions arising in the Red Sea, along with softer-than-expected economic data from the United States (US).

The Euro (EUR) is softening on Friday, backsliding against the majority of its major currency peers as dovish talking points from the European Central Bank (ECB) weigh on rate cut hopes.

The Canadian Dollar is a mixed bag in Friday trading, seeing moderate gains against the US Dollar (USD) after a downside print in the US Producer Price Index forced the Greenback lower across the board.

The GBP/JPY backslid on Friday, slipping back from the week’s peak bids near 186.17 as the Pound Sterling (GBP) broadly softens and markets bid up the Japanese Yen (JPY).

United States Baker Hughes US Oil Rig Count dipped from previous 501 to 499

The Mexican Peso (MXN) climbed during the North American session against the US Dollar (USD) due to investors increasing bets that the US Federal Reserve (Fed) would aggressively ease policy, pricing in more than 170 basis points of cuts.

Gold price rallied sharply on Friday, spurred by a risk-off impulse due to tensions arising around the Red Sea, as the US and the UK retaliated against Houthi's attack on a US ship on Thursday.

The US Dollar (USD), as gauged by the DXY Index, has experienced downward pressure, trading as low as 102.20 amidst weak Producer Price Index (PPI) data from December but then recovered toward 102.40.