The Canadian Dollar (CAD) regains ground against the US Dollar (USD) on Friday, marking a two-week low during the early Asian trading session after US President Donald Trump announced a steep 35% tariff on Canadian imports, set to take effect on August 1.

Statistics Canada said on Friday that the Unemployment Rate in Canada ticked lower to 6.9% in June, below market consensus.

Germany Current Account n.s.a. fell from previous €23.5B to €9.6B in May

Canada Participation Rate increased to 65.4% in June from previous 65.3%

Canada Unemployment Rate came in at 6.9%, below expectations (7.1%) in June

Canada Net Change in Employment above expectations (0K) in June: Actual (83.1K)

Canada Building Permits (MoM) registered at 12% above expectations (-0.8%) in May

The US Dollar gains strength on Friday, supported by renewed tariff threats from US President Donald Trump, which have reignited global trade tensions and sparked a new wave of risk aversion.

Gold (XAU/USD) price surged on Friday, trading above $3,340 at the time of writing, as trade tensions and safe-haven demand have overshadowed rising US yields. 

United Kingdom NIESR GDP Estimate (3M) fell from previous 0.4% to 0.2% in June

Mexico Industrial Output (YoY) registered at -0.8% above expectations (-1.9%) in May

A few hours ago, the US President published a letter to Canada to inform them of the introduction of 35% tariffs from 1 August. As usual, he justified this by citing the large quantities of fentanyl allegedly entering the US from Canada.

The Japanese Yen (JPY) is weak, down 0.4% against the US Dollar (USD) and trading heavily in an environment of trade policy uncertainty, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

Pound Sterling (GBP) is down 0.3% againt the US Dollar (USD) and trading heavily in response to the release of weaker than expected data including an unexpected contraction in monthly GDP, a worrisome decline in industrial production, and a wider than expected trade deficit, Scotiabank's Chief FX St

So much for the July 21st deadline.

The US has started sending out its tariff letters (or posting them on social media). However, the market does not seem to be interested in this at all at the moment.

The Pound Sterling (GBP) faces selling pressure against its peers on Friday after the release of weak United Kingdom (UK) Gross Domestic Product (GDP) and factory data for May.

The US Dollar (USD) holds onto gains during the European trading session on Friday as fresh tariff threats by United States (US) President Donald Trump have weakened the risk appetite of investors.

The EUR/USD pair is trading lower for the third consecutive day on Friday, with risk appetite subdued after the US President Donald Trump announced that the European Union (EU) will be included in the next batch of tariff letters and raised blanket levies for all other countries to 15% or 20% from t

India Bank Loan Growth: 9.5% (June 23) vs previous 9.6%

India FX Reserves, USD dipped from previous $702.78B to $699.74B in June 30

The US Dollar (USD) is ending the week on a firm note, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

US Dollar (USD) is expected to trade in a range between 7.1730 and 7.1880 against Chinese Yuan (CNH). In the longer run, increasing momentum suggests USD may rise, but it is too early to expect 7.2000 to come into view, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

The Euro (EUR) is entering Friday’s NA session unchanged against the US Dollar (USD) as it outperforms most of the G10 currencies in an environment of broad-based USD strength, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Euro is trading higher on Friday, supported by a weaker Pound, following a raft of downbeat macroeconomic figures in the UK. The pair has breached the top of the last two weeks' trading channel between 0.8600 and 0.8640 and is trading at 0.8645 at the time of writing.

US Dollar (USD) may retest the 147.20 level against Japanese Yen (JPY); a sustained advance above this level seems unlikely.

Canada's June jobs report is expected to show flat employment growth and a slight rise in the jobless rate to 7.1%, but recent fiscal tightening poses downside risks.

The US Dollar (USD) remains highly sensitive to data, while tariff news continues to have only a limited effect.

Outlook appears unclear; New Zealand Dollar (NZD) could trade in a range between 0.5995 and 0.6045 against US Dollar (USD). In the longer run, price action indicates that further NZD weakness is likely; the level to watch is 0.5950, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

US natural gas futures surged after the EIA reported a smaller-than-expected inventory build, with storage rising just 53bcf versus forecasts of 62bcf.