Nordea’s Jan von Gerich observes that recent equity weakness has not produced a stronger Dollar, suggesting its traditional safe-haven role is less dominant than before.

The US Dollar (USD) keeps marching higher against the Canadian Dollar (CAD) on Friday.

ING’s Chris Turner argues that EUR/USD remains under pressure as investors position for further Middle East escalation and tighter global financial conditions. He notes that Sovereign Wealth Fund retrenchment and hawkish European Central Bank pricing weigh on the pair.

Rabobank’s RaboResearch Global Economics & Markets team reviews Banxico’s March 26 decision to cut the overnight policy rate by 25bp to 6.75%. The move was a close call, with two governors preferring to keep rates at 7.00%.

UOB’s Quek Ser Leang highlights a weakening technical backdrop for AUD/USD after the pair broke below a rising wedge and tested the Ichimoku cloud base near 0.6870.

The Australian Dollar (AUD) outperforms its major currency peers, trading marginally higher to near 0.6900 against the US Dollar (USD) during the late European trading session on Friday.

Mexico Trade Balance s/a, $ climbed from previous $-1.248B to $-1.09B in February

Mexico Jobless Rate meets forecasts (2.6%) in February

Mexico Jobless Rate s.a up to 2.7% in February from previous 2.6%

Mexico Trade Balance, $ came in at $-0.463B below forecasts ($1.2B) in February

MUFG’s Derek Halpenny notes that the US Dollar’s initial weakness after President Trump extended the pause in attacks on Iran’s energy assets has been short-lived, with DXY only slightly lower.

Deutsche Bank’s Sanjay Raja expects a relatively quiet UK data week, with focus on March DMP survey signals around the Iran conflict, inflation expectations, and hiring plans. He forecasts only marginal upside risk to Q4-25 GDP, with the ONS likely confirming 0.1% q-o-q growth.

European Central Bank (ECB) Governing Council member Madis Müller said in an interview with Econostream that the central bank might need to wait for the release of second-round inflation effects before making any monetary policy adjustment.

The US Dollar (USD) is outperforming its peers on Friday, including the safe-haven Yen (JPY).

India FX Reserves, USD: $698.35B (March 16) vs previous $709.76B

Commerzbank’s Jörg Krämer expects the ECB to react to war‑driven energy inflation with at most one additional rate hike. Inflation is projected to rise above 3% by summer before easing, while Eurozone growth is revised down to 0.6% in 2026.

Brown Brothers Harriman’s (BBH) Elias Haddad reports that Japanese officials are escalating verbal intervention as USD/JPY approaches 160.00, a potential line in the sand.

The Indian Rupee (INR) extends opening losses against the US Dollar (USD) in afternoon trading hours in India on Friday .

Ireland Retail Sales (YoY) declined to 0.8% in February from previous 3%

Ireland Retail Sales (MoM) fell from previous 1.5% to -0.8% in February

Gold price (XAU/USD) trades over 1% higher at around $4,450 during the European trading session on Friday.

Italy 10-y Bond Auction increased to 4.09% from previous 3.31%

Italy 5-y Bond Auction: 3.48% vs 2.62%

The Euro (EUR) is trading lower against the US Dollar (USD) for the fourth consecutive day on Friday, changing hands at 1.1520 at the time of writing, down from weekly highs of 1.1640 on Monday.

TD Securities analysts note United Kingdom (UK) Retail Sales for February beat expectations, showing only slight mean reversion after strong gains and maintaining a positive three‑month trend. Weather-related weakness was broad but not fundamentally alarming.

Former Bank of Japan (BoJ) Governor Haruhiko Kuroda said in an interview with the Asahi newspaper that the central bank should continue pushing the monetary policy towards normalization.

Nordea’s Jan von Gerich notes that despite intense Middle East headlines and large market swings, Oil has not broken to new highs in recent weeks, while German yields have surged and equities weakened.

ING analysts highlight that Copper climbed on Friday and is on track for its first weekly gain of the month after President Trump extended the Iran deal deadline, improving risk sentiment.

Silver prices (XAG/USD) rose on Friday, according to FXStreet data. Silver trades at $68.84 per troy ounce, up 1.08% from the $68.10 it cost on Thursday.

MUFG's Derek Halpenny highlights that higher energy-related inflation, fiscal slippage risks and potential sharp Japanese Yen (JPY) depreciation above 160.00 in USD/JPY are adding to JGB selling pressure.