BNY’s Head of Markets Macro Strategy Bob Savage notes that several current-account-surplus economies, including the Euro area, face renewed pressure from higher energy costs.

"New orders for manufactured durable goods in January, down three of the last four months, decreased $0.1 billion or virtually unchanged to $321.2 billion," the US Census Bureau reported on Friday.

Russia Foreign Trade fell from previous $10.021B to $6.597B in January

Russia Central Bank Reserves $ dipped from previous $811.1B to $802.2B

Commerzbank analysts highlight that Aluminium has gained around 10% since early March as the Iran conflict amplifies supply concerns, especially given the Gulf’s producer role and China’s production cap.

The British Pound (GBP) weakens against the Japanese Yen (JPY) on Friday as Sterling comes under broad pressure following a batch of weaker-than-expected UK economic data. At the time of writing, GBP/JPY is trading around 211.50, retracing all the gains recorded earlier this week.

Rabobank’s FX Strategy team argues the Dollar’s safe haven role has been confirmed by recent Middle East tensions and associated market stress.

Statistics Canada reported that the Unemployment Rate rose to 6.7% in February, surpassing the 6.5% posted in January and the expected 6.6%.

Gold (XAU/USD) struggles to gain traction on Friday and remains on course for a second weekly decline as surging Oil prices stemming from the ongoing US-Iran war fuel inflation concerns and trigger a hawkish repricing of global interest-rate expectations, weighing on the non-yielding metal.

TD Securities analysts expect the BoE’s cautious stance to support the US Dollar against the Pound in the near term.

The US Bureau of Economic Analysis (BEA) reported on Friday that it revised the annualized Gross Domestic Product (GDP) growth for the fourth quarter to 0.7% in its second estimate, compared to the market expectation and the initial estimate of 1.4%.

Inflation in the United States, as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, edged lower to 2.8% in January from 2.9% in December, the US Bureau of Economic Analysis (BEA) reported on Friday. This print came in below the market expectation of 2.9%.

United States Gross Domestic Product Price Index climbed from previous 3.7% to 3.8% in 4Q

United States Gross Domestic Product Annualized came in at 0.7%, below expectations (1.4%) in 4Q

United States Core Personal Consumption Expenditures (QoQ) meets forecasts (2.7%) in 4Q

United States Personal Consumption Expenditures Prices (QoQ) meets forecasts (2.9%) in 4Q

United States Personal Consumption Expenditures - Price Index (YoY) registered at 2.8%, below expectations (2.9%) in January

United States Personal Income (MoM) below expectations (0.5%) in January: Actual (0.4%)

United States Personal Consumption Expenditures - Price Index (MoM) meets expectations (0.3%) in January

United States Personal Spending above expectations (0.3%) in January: Actual (0.4%)

United States Core Personal Consumption Expenditures - Price Index (MoM) meets expectations (0.4%) in January

United States Durable Goods Orders ex Transportation below expectations (0.5%) in January: Actual (0.4%)

United States Durable Goods Orders ex Defense increased to 0.5% in January from previous -2.5%

Canada Capacity Utilization above forecasts (78.4%) in 4Q: Actual (78.5%)

United States Core Personal Consumption Expenditures - Price Index (YoY) in line with expectations (3.1%) in January

Canada Participation Rate fell from previous 65% to 64.9% in February

Canada Unemployment Rate registered at 6.7% above expectations (6.6%) in February

Canada Net Change in Employment came in at -83.9K, below expectations (10K) in February

United States Durable Goods Orders below forecasts (1.2%) in January: Actual (-1.4%)

Societe Generale’s Anatoli Annenkov argues that despite higher Oil prices and rising inflation risks, the European Central Bank is likely to keep policy unchanged in the near term.