United Kingdom NIESR GDP Estimate (3M) unchanged at 0.3% in February

The GBP/USD pair is trading near the 1.3240 price region, falling for a fourth consecutive day, reaching lows it hasn’t touched since December 3, 2025. The downfall of the Great British Pound (GBP) is attributed to a firm US Dollar (USD) amid risk aversion.

Russia Consumer Price Index (MoM) above expectations (0.6%) in February: Actual (0.7%)

Scotiabank strategists Shaun Osborne and Eric Theoret note that the Canadian Dollar is sliding on weaker Canadian employment data and geopolitical concerns, even as US data also softens.

Nordea’s Torbjörn Isaksson reports that Swedish CPIF and CPIF ex energy were confirmed at low year-on-year levels, with seasonally adjusted core measures well below the 2% target. Despite a bounce in core services inflation, overall pressures remain subdued.

USD/JPY trades around 159.50 on Friday at the time of writing, up 0.10% on the day. The pair remains close to recent highs, supported by the continued strength of the US Dollar (USD) and a still-wide interest rate differential between the United States (US) and Japan.

USD/CAD extends its advance on Friday as the Canadian Dollar (CAD) weakens across the board after Canada’s latest employment report surprised to the downside, while firm US Dollar (USD) demand amid the ongoing US-Iran war adds further pressure on the Loonie.

TD Securities analysts expect the Canadian Dollar (CAD) to show relative resilience versus non-USD peers thanks to Oil links, lower beta to risk-off and cleaner positioning.

The number of job openings in the US was little changed at 6.94 million in January, while for December it was revised upward to 6.55 million from the 6.54 million previously reported, the US Bureau of Labor Statistics (BLS) reported in the Job Openings and Labor Turnover Survey (JOLTS) on Friday.

Scotiabank strategists Shaun Osborne and Eric Theoret note the Pound is underperforming against the Dollar, hurt by risk sentiment and a surprise contraction in UK industrial production.

American consumer confidence deflated in early March, as households grew more pessimistic about current conditions and the broader economic outlook, according to preliminary data from the University of Michigan.

Commerzbank’s commodity team, including Barbara Lambrecht and colleagues, highlights that the Iran war has triggered the largest oil supply outages ever, with the IEA estimating losses of at least 8 million barrels per day.

Standard Chartered’s Chong Hoon Park and Nicholas Chia expect the Bank of Japan to keep its policy rate at 0.75% on 19 March, with a cautious stance due to uneven Japanese growth and higher Oil prices.

Rabobank’s FX Strategy team has lowered its short-term EUR/USD projections, citing prolonged disruption in the Strait of Hormuz and higher Oil and gas prices.

The Euro (EUR) trims part of its earlier losses against the US Dollar (USD) on Friday as traders digest the latest US economic data. At the time of writing, EUR/USD is trading around 1.1472 after touching an intraday low near 1.1433, its weakest level since August 2025.

OCBC strategists Sim Moh Siong and Christopher Wong highlight that Brent’s move above USD100/bbl and rising Hormuz disruption risk raise the odds of a durable energy shock, with markets bracing for stagflation and a stronger Dollar.

TD Securities, led by Robert Both and colleagues, expects the Bank of Canada to leave the policy rate at 2.25% in March.

United States JOLTS Job Openings above forecasts (6.7M) in January: Actual (6.946M)

United States UoM 5-year Consumer Inflation Expectation fell from previous 3.3% to 3.2% in March

United States UoM 1-year Consumer Inflation Expectations remains at 3.4% in March

United States Michigan Consumer Expectations Index down to 54.1 in March from previous 56.6

United States Michigan Consumer Sentiment Index registered at 55.5 above expectations (55) in March

Ripple (XRP) is gaining momentum, trading above $1.42 at the time of writing on Friday. The remittance token’s upswing from its daily open of $1.38 mirrors broader increases in crypto prices, with Bitcoin (ETH) holding above $72,200 and Ethereum (ETH) above $2,100.

Royal Bank of Canada (RBC) economist Claire Fan notes that February’s Canadian labour market data were weak, with employment falling and the unemployment rate rising to 6.7% as participation declined. She highlights that volatile monthly data are being distorted by slower population growth.

AUD/USD trades lower on Friday at around 0.7040 at the time of writing, down 0.46% on the day, after hitting a multi-year high at 0.7187 earlier in the week. The pullback comes as the US Dollar (USD) strengthens and risk sentiment deteriorates across financial markets.

Nordea strategists Ole Håkon Eek-Nielsen and Jan von Gerich argue the Federal Reserve is unlikely to cut rates and could even face pressure to hike as a potential energy shock lifts inflation risks.

ING’s Chris Turner argues USD/JPY is now firmly in intervention territory, with markets watching whether any action involves only Japanese authorities or a fully joint move with the Federal Reserve.