December balance a bit better than anticipated

The Pound Sterling struggles to clear the 1.2600 figure against the US Dollar yet is set for it first monthly gain since September 2024.

Some big moves in stocks but FX not joining in

A growing group of policymakers is calling for a pause soon, but this will not affect next week’s meeting, Rabobank’s Senior Macro Strategist Bas van Geffen reports.

The price is looking to move below the 61.8% of the February trading range

The growing demand for regulated cryptocurrency investment tools has prompted CME Group to introduce Solana (SOL) futures. Pending regulatory approval, these new contracts will reportedly launch on...

MetaMask plans to expand its network support and update its transaction features. It will integrate the Bitcoin network in the Q3 and Solana in May.

The USD/CAD pair edges lower to near but holds onto Thursday’s gains around 1.4430 in North American trading hours on Friday.

The Canadian GDP was stronger and helped to push the pair lower

Shares of Nvidia down 2% pre-market after yesterday's 8% post-earnings dive

Wholesale and retail inventory data

US trade balance for January

Canada G for the f4th quarter of 2024

Highlights of the US January PCE report

The EUR/JPY pair rallies to near 157.00 in the North American session on Friday.

Pound Sterling (GBP) is the best performing G10 currency on the week but is still trading with a 0.3% loss against the generally firmer USD, Scotiabank's Chief FX Strategist Shaun Osborne notes.

A pair of market movers coming up

What technicals are driving the EURUSD, USDJPY and GBPUSD ahead of the US PCE data at 8:30 AM ET

Inflation data from France showed unchanged prices on the February month (versus expectations of a 0.2% rise) while German regional CPI data support forecasts for steady to slightly lower German CPI data, Scotiabank's Chief FX Strategist Shaun Osborne notes.

Right, so border tariffs are back on for next Tuesday. But maybe only for a short period? So much tariff-mongering, so little clarity, Scotiabank's Chief FX Strategist Shaun Osborne notes.

Solid gains for the US Dollar (USD) yesterday reflected renewed tariff concerns, weaker stocks and underperforming alternative havens, such as gold, Scotiabank's Chief FX Strategist Shaun Osborne notes.

January 2025 Core PCE the focus

Inflation in Germany, as measured by the change in the Consumer Price Index (CPI), held steady at 2.3% on a yearly basis in February, Destatis' flash estimate showed on Friday.

Latest data released by Destatis - 28 February 2025

The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, looks set to close off this week around 107.30, which is the level at the time of writing on Friday. The DXY tries to keep a hold on that level. Markets got shaken up again overnight as United States (US) President Donald Trump confirmed that tariffs for Canada and Mexico are going into effect on March 4. Meanwhile, China will face an additional 10% levy on the same day.

The upcoming weekend meeting between Donald Trump and Volodymyr Zelensky is not just a diplomatic event—it carries major implications for capital markets. Some of the risk-off we've been seeing this week might be a lot about that potential risk, among other factors (like NVDA earnings on Wed night).

Forex news from the European morning session on Feb 28, 2025

Wall Street tends to have other ideas on how the state of play goes

West Texas Intermediate (WTI), futures on NYMEX, falls back to near $69.20 in European trading hours on Friday.

The buyTheDip plan for bitcoin awaits that it will meet important key levels that have a reasonable chance to be a dip (the prices of the plan is in Bitcoin futures). I am not saying it will get there, but it does, then this is an interesting are: $63,035 - $59,120

USD/CAD surged almost 1% as US tariff threat raised Bank of Canada (BOC) rate cut bets, BBH's FX analysts report.

USD/JPY rallied above 150.00, BBH's FX analysts report. BoJ normalization cycle to continue "Tokyo February CPI inflation cools more than anticipated and supports the case for a gradual Bank of Japan normalization cycle.

US Dollar could test 7.3100 vs Chinese Yuan; a sustained break above this level seems unlikely.

US Dollar (USD) is expected to trade in a 148.80/150.20 range.

Although deeply oversold, New Zealand Dollar (NZD) could decline further, but 0.5590 is likely out of reach for now.

The Nasdaq extended the selloff yesterday following fresh Trump’s tariffs threats. What’s next?

Gold’s price (XAU/USD) is getting knocked out and is facing a substantial 3% loss since it printed a new all-time high at $2,956 on Monday at the start of this week. The precious metal currently trades at $2,860 at the time of writing, after United States (US) President Donald Trump reiterated that tariffs for Mexico

Turning to China, the extra 10% tariff next Tuesday is an aggressive surprise and follows a 10% across-the-board increase in tariffs on 4 February, ING’s FX analysts Chris Turner notes.

The Pound Sterling (GBP) trades flat to near 1.2600 against the US Dollar (USD) in Friday’s North American session.

Australian Dollar (AUD) could continue to decline vs US Dollar (USD), but the major support at 0.6190 could be just out of reach. In the longer run, further AUD declines seem likely; the level to monitor is 0.6190, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.