Susan Collins, President of the Federal Reserve (Fed) Bank of Boston, said that to cut interest rates again, the Fed needs to see clear evidence of inflation ebbing, adding that she sees no need to change the monetary policy stance urgently at a gathering in Springfield, Massachusetts on Friday.
The Canadian Dollar (CAD) strengthens against the US Dollar (USD) on Friday as the Greenback loses momentum following softer-than-expected US Nonfarm Payrolls (NFP) data.
The Dow Jones Industrial Average was down around 600 points, or 1.26%, near 47,340 at the time of writing, capping off a brutal week that saw the blue-chip index shed over 1K points. The S&P 500 traded near 6,750, down around 1.1%, while the Nasdaq Composite hovered near 22,550, off roughly 0.9%.