ING’s Frantisek Taborsky reports that Central and Eastern European FX remains relatively stable despite renewed rate market selling in Poland and the Czech Republic.

NZD/USD trades lower near 0.5870 on Friday, down 0.54% on the day at the time of writing, as the US Dollar strengthens amid geopolitical tensions and investor caution ahead of the upcoming US labor market report.

Commerzbank commodity analysts Barbara Lambrecht and Carsten Fritsch highlight that the war in Iran and disruptions in the Strait of Hormuz are tightening the Oil market, widening Brent–WTI spreads and time spreads.

The United States (US) Bureau of Labor Statistics (BLS) will release the Nonfarm Payrolls (NFP) data for February at 13:30 GMT.

In an interview with Bloomberg TV on Friday, Federal Reserve (Fed) Governor Christopher Waller said that people will see a spike in gas prices but added that this situation is unlikely to cause sustained inflation.

Gold (XAU/USD) edges lower on Friday, trimming earlier gains as a broadly stronger US Dollar (USD) and rising US Treasury yields continue to weigh on the non-yielding metal.

BNY’s Head of Markets Macro Strategy Bob Savage reports that Gold is set for its first weekly loss in five weeks as rate expectations shift toward hikes in Europe and fewer cuts from the FOMC. A stronger Dollar and use of Gold as a liquidity source weigh on prices.

TD Securities analysts expect February US Nonfarm Payrolls to slow to 60k, with the Unemployment Rate steady at 4.3%. They also look for a 0.2% monthly rebound in January Retail Sales. They anticipate modest bear flattening in US yields as markets stay focused on geopolitics and incoming data.

Brazil Industrial Output (YoY) above forecasts (-0.7%) in January: Actual (0.2%)

Brazil Industrial Output (MoM) came in at 1.8%, above expectations (0.7%) in January

Danske Research Team expects US growth to cool further in 2026 despite a slightly higher GDP forecast, citing structural headwinds. Inflation is projected to remain contained, with both headline and core measures near 2.5%.

OCBC strategists Sim Moh Siong and Christopher Wong highlight that recent US labour data and escalating Middle East tensions are supporting the Dollar.

India FX Reserves, USD increased to $728.49B in February 23 from previous $723.61B

Silver price (XAG/USD) trades broadly sideways around $82.80 during the European trading session on Friday. The white metal consolidates as investors await the United States (US) Nonfarm Payrolls (NFP) data for February, which will be published at 13:30 GMT.

ING strategists Warren Patterson and Ewa Manthey report that Copper prices have softened as LME inventories jump to a 16‑month high, suggesting supply is outpacing demand.

EUR/GBP trades around 0.8680 on Friday at the time of writing, losing 0.10% on the day as investors assess contrasting economic outlooks in the Eurozone and the United Kingdom (UK).

Brown Brothers Harriman’s (BBH) Elias Haddad notes that the February NFP report will be crucial for assessing whether the US labor market is genuinely strengthening or if January’s strong gains were a one-off.

West Texas Intermediate (WTI), futures on NYMEX, surges to near $82.80 during the European trading session on Friday, the highest level seen since July 2024.

Qatar’s Energy Minister Saad al-Kaabi said in an interview with the Financial Times (FT) published on Friday that all Gulf energy producers to shut ​down exports within weeks amid the ongoing war in the Middle East, which involves the United States (US), Israel, and Iran.

Greece Gross Domestic Product s.a (YoY) up to 2.4% in 4Q from previous 2%

Eurozone Gross Domestic Product s.a. (YoY) registered at 1.2%, below expectations (1.3%) in 4Q

In an interview with the regional Catalan TV3 television on Friday, European Central Bank (ECB) policymaker Jose Luis Escriva commented on the monetary policy outlook in the face of the ongoing Middle East conflict.

Greece Unemployment Rate (QoQ) rose from previous 8.2% to 8.3% in 4Q

Eurozone Employment Change (YoY) meets expectations (0.7%) in 4Q

Eurozone Employment Change (QoQ) meets forecasts (0.2%) in 4Q

Eurozone Gross Domestic Product s.a. (QoQ) came in at 0.2% below forecasts (0.3%) in 4Q

The Indian Rupee (INR) trades higher against the US Dollar (USD) during afternoon trading hours in India on Friday.

Commerzbank’s Volkmar Baur examines whether the Euro is truly weak or strong, noting that EUR/USD undervaluation on purchasing power parity contrasts with a still-elevated trade-weighted Euro.

Silver prices (XAG/USD) rose on Friday, according to FXStreet data. Silver trades at $84.20 per troy ounce, up 2.65% from the $82.02 it cost on Thursday.

BNY’s Bob Savage highlights that Oil supply shock risks look underpriced even as prediction markets see high odds of crude reaching $100/bbl. He notes strong investor flows into Energy equities across regions and describes Oil as a new safe haven.