MUFG’s Head of Research Derek Halpenny notes the US Dollar has broken above the 100 level on DXY and pushed USD/JPY to fresh year-to-date highs, with Oil stabilizing near USD 100.

Eurozone Industrial Production w.d.a. (YoY) below forecasts (1.4%) in January: Actual (-1.2%)

Eurozone Industrial Production s.a. (MoM) below forecasts (0.6%) in January: Actual (-1.5%)

Societe Generale’s technical team notes USD/CAD has found tentative support near 1.3480, forming a small base, but sees no clear evidence yet of a larger uptrend.

ING’s Chris Turner notes EUR/USD has slipped below 1.1500 as higher Dollar-denominated energy costs hurt most European corporates.

MUFG’s Head of Research Derek Halpenny argues the Australian Dollar has benefited from expectations of further RBA tightening and a positive terms-of-trade impulse from higher energy prices.

Standard Chartered’s Anubhuti Sahay and Saurav Anand assess India’s macro outlook as Middle East tensions raise risks for Oil and global rates.

France Consumer Price Index (EU norm) (YoY) meets expectations (1.1%) in February

France Consumer Price Index (EU norm) (MoM) registered at 0.7% above expectations (0.4%) in February

The USD/CAD pair gains some follow-through positive traction for the third straight day and touches a fresh weekly top, above mid-1.3600s during the early European session on Friday.

Here is what you need to know on Friday, March 13:

The EUR/GBP cross holds positive ground near 0.8630 during the early European session on Friday. The Pound Sterling (GBP) weakens against the Euro (EUR) after the release of UK economic data. The Eurozone Industrial Production report for January will be published later on Friday. 

The GBP/USD pair turns lower for the fourth straight day following an intraday uptick to the 1.3370 area on Friday.

USD/JPY extends its winning streak for the fourth successive session, trading around 159.40 during the early European hours on Friday.

DBS Group Research strategist Chang Wei Liang highlights that USD/JPY is edging towards the key 160 level that has previously triggered intervention, yet Japanese officials have been notably quiet.

Silver price (XAG/USD) declines to around $83.60 during the early European trading hours on Friday, pressured by a stronger US Dollar (USD). Traders will closely monitor the situation in the Middle East.

Statistics Canada will release its Labour Force Survey on Friday, and market participants expect a modest uptick in job creation in February, with the Employment Change foreseen at 10K following the -24.8K in the previous month.

EUR/JPY extends its gains for the second successive session, trading around 183.30 during the Asian hours on Friday. The technical analysis of the daily chart shows the spot testing the upper boundary of a descending triangle, suggesting potential resistance and a possible downside continuation.

The AUD/USD pair loses traction to around 0.7060 during the early European session on Friday. The pair retreats from near three-year highs as rising tensions in the Middle East boost the safe-haven flows, supporting the US Dollar (USD). 

USD/INR depreciates on Friday after reaching an all-time high of 92.90 in the previous session.

The USD/CHF pair prolongs its uptrend for the fourth straight day and climbs to the 0.7870 region, back closer to the monthly peak during the Asian session on Friday.

The AUD/JPY cross remains on the back foot for the second consecutive day and trades just above mid-112.00s during the Asian session on Friday.

USD/CAD steadies after registering over 0.25% gains in the previous session, trading around 1.3640 during the Asian hours on Friday. However, the commodity-linked Canadian Dollar (CAD) may strengthen amid surging oil prices, as Canada is the largest crude exporter to the United States (US).

The NZD/USD pair posts modest gains near 0.5855 during the early Asian session on Friday. Nonetheless, ongoing conflicts in the Middle East might cap the upside for the Kiwi against the US Dollar (USD).

GBP/USD pares recent losses from the previous session, trading around 1.3370 during the Asian hours on Friday. The pair strengthens as the US Dollar Index (DXY) retreats after gaining nearly 0.5% on Thursday.

The USD/JPY pair meets with some supply during the Asian session on Friday, and for now, seems to have snapped a three-day winning streak back closer to the 159.40-159.45 area, or the year-to-date high.

On Friday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.9007 compared to the previous day's fix of 6.8959 and 6.8888 Reuters estimate.

The AUD/USD turned lower on Thursday, retreating from the multi-year peak of 0.7186 achieved on Wednesday. The Greenback hedged sharply higher as the Middle East war intensified, pushing Oil prices up and fuelling demand for the safe-haven US Dollar (USD).

The Swiss Franc (CHF) is experiencing marked losses against both the Euro (EUR) and the US Dollar (USD) as the NA session draws to a close on Thursday.

The US Dollar (USD) trades with a firmer tone across the FX board in the American session on Thursday, as persistent concerns about oil supply disruptions undermine the market’s mood. The EUR/USD pair trades in the 1.1520 price zone, not far above the 2026 low at 1.1507.