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GBP/USD trips down below 1.3350 as Oil surges, Fed outlook boosts US Dollar
GBP/USD trims some of its previous-day gains on Friday, down by 0.84%, as traders turn risk-averse amid an escalation of the Middle East war and price in no rate cuts by the Federal Reserve (Fed) in 2026. At the time of writing, the pair trades below 1.3350 after hitting a daily high of 1.3442.
AUD/USD falls as geopolitical tensions overshadow RBA rate hike
AUD/USD trades lower around 0.7040 on Friday at the time of writing, down 0.68% on the day, as the pair is pressured by a return of safe-haven demand despite supportive domestic factors in Australia.
USD/CAD rebounds as weak Canadian Retail Sales and firmer USD weigh on Loonie
USD/CAD recovers from intraday lows on Friday as softer-than-expected Canadian Retail Sales data weighs on the Canadian Dollar (CAD), while a rebound in the US Dollar (USD) provides additional support to the pair.
Federal Reserve: Higher-for-longer stance maintained – Nordea
Nordea’s Sara Midtgaard reports that the Federal Reserve left its policy rate unchanged and signalled only gradual easing, with one 25 bp cut projected in both 2026 and 2027.
US sends thousands of Marines and three warships to Middle East – WSJ
Citing officials, the Wall Street Journal reported on Friday that the Pentagon is sending roughly "2,200 to 2,500 Marines from the California-based USS Boxer amphibious ready group and 11th Marine Expeditionary Unit," to the Middle East, alongside three warships.
Dollar strength returns on geopolitics – Scotiabank
Scotiabank’s global FX strategy team reports broad Dollar strength as G10 performance realigns with early US/Iran conflict patterns. They stress fragile risk sentiment as markets reassess prolonged conflict risks, central bank paths and violent yield repricing.
USDCAD: Range holds as CAD outperforms – Scotiabank
Scotiabank’s Analyst Team notes the Canadian Dollar is modestly firmer versus the Dollar and leading G10 peers, echoing its earlier conflict-phase outperformance. They highlight narrowing yield spreads and a relatively muted Bank of Canada meeting as key drivers.
EUR/GBP rises as markets assess ECB and BoE rate decisions, inflation outlook
EUR/GBP edges higher on Friday, recovering losses recorded in the previous day after the European Central Bank (ECB) and Bank of England (BoE) monetary policy announcements.
Fed’s Waller: Do not think there is a need to consider rate hikes
Christopher Waller, a member of the Federal Reserve (Fed), said that based on the jobs report alone, he was planning to dissent in the monetary policy decision, but inflation has become more of a concern.
Triple witching Friday: E-Mini Dow Futures (YM) into key support levels
After being beaten down for several days heading into triple witching, E-Mini Dow Jones futures could come into some temporary support around the 45,780 level.
Pound Sterling Price News and Forecast: GBP/USD retreats
GBP/USD retreats on Friday, trading around 1.3380 at the time of writing, down 0.39% on the day, after Thursday’s strong rally following the Bank of England (BoE) decision.
USD/JPY rebounds as US Dollar strengthens, BoJ hawkishness tempers upside potential
USD/JPY trades around 158.70 on Friday at the time of writing, up 0.61% on the day, staging a clear rebound after Thursday’s sharp decline. The move comes as the US Dollar (USD) regains traction following a bout of volatility, with markets reassessing the outlook for US monetary policy.
Canada New Housing Price Index (YoY): -2.1% (February) vs -2.3%
Canada New Housing Price Index (YoY): -2.1% (February) vs -2.3%
Canada New Housing Price Index (MoM) registered at 0.3% above expectations (-0.3%) in February
Canada New Housing Price Index (MoM) registered at 0.3% above expectations (-0.3%) in February
Canada Retail Sales (MoM) came in at 1.1% below forecasts (1.5%) in January
Canada Retail Sales (MoM) came in at 1.1% below forecasts (1.5%) in January
Canada Industrial Product Price (MoM) came in at 0.4% below forecasts (1.1%) in February
Canada Industrial Product Price (MoM) came in at 0.4% below forecasts (1.1%) in February
Canada Retail Sales ex Autos (MoM) below forecasts (1.2%) in January: Actual (0.8%)
Canada Retail Sales ex Autos (MoM) below forecasts (1.2%) in January: Actual (0.8%)
Canada Raw Material Price Index came in at 0.6% below forecasts (2.4%) in February
Canada Raw Material Price Index came in at 0.6% below forecasts (2.4%) in February
Oil: Supply response tempers geopolitical spike – OCBC
OCBC’s Sim Moh Siong highlights that crude briefly surged toward USD120/bbl on Iranian attacks before easing as US officials signalled supply support and Israel suggested faster de-escalation.
Gold: Near-term pressure versus structural support – OCBC
OCBC’s Christopher Wong reports that Gold has come under pressure as rising global yields and renewed inflation risks reduce expectations for near-term rate cuts, prompting ETF outflows and stress-driven liquidation.
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