Latest data released by the European Commission - 28 March 2025

EUR/USD bounces back as the Euro's (EUR) recovers strongly after the European Commission (EC) signaled that it has prepared concessions for the US to escape some tariffs from President Donald Trump, which he will announce on Wednesday.

US crude oil inventories declined by 3.3 million barrels last week, as reported by the US Department of Energy in the middle of the week, Commerzbank's commodity analyst Carsten Fritsch notes.

Pound Sterling (GBP) is likely to trade in a 1.2900/1.3000 range today vs US Dollar (USD).

The value of currencies in FX markets is typically driven by interest rate differentials, with FX effectively being seen as an extension of monetary policy.

Data published this week by the Hong Kong Statistics Authority on Gold trade with China confirmed the picture of very weak demand for Gold in China, Commerzbank's commodity analyst Carsten Fritsch notes Gold exports to China and Hong Kong come to a standstill in February "According to the data, 26.4 tons more Gold were delivered from China to Hong Kong in February than vice versa.

Gold has reacted positively to the latest US tariffs, Commerzbank's commodity analyst Barbara Lambrecht notes.

Room for Euro (EUR) to rebound further vs US Dollar (USD) and test 1.0825; the next resistance at 1.0870 is unlikely to come under threat.

Silver prices (XAG/USD) broadly unchanged on Friday, according to FXStreet data.

EUR/USD held in surprisingly well yesterday – as did European automakers.

Silver (XAG/USD) climbs its highest level since late October 2024 during the first half of the European session on Friday and currently trades around mid-$34.00s, up nearly 0.30% for the day.

 European Central Bank (ECB) Vice President Luis de Guindos said on Friday, “trade war would mostly impact economic growth.”

The NZDUSD pair hasn't been doing much recently as the traders await the US tariffs plan announcement next Wednesday

The latest findings from the ECB's consumer expectations survey for February 2025

Latest data released by the Federal Employment Agency - 28 March 2025

Following the softer French and Spanish inflation data, the market bumped up easing expectations for the ECB this year

Remarks by ECB vice president, Luis de Guindos

The AUD/USD pair extends its sideways consolidative price move for the fourth straight day on Friday and remains confined in a range around the 0.6300 mark through the first half of the European session.

Spotware, the developer of cTrader premium trading platform, is heading to iFX Expo LATAM 2025! From 9th - 10th April 2025 we’ll be joining the world’s largest gathering of forex trading industry e...

No surprises there

Knowing the range of expectations is important, but the distribution of forecasts is another key input in the market's reaction

Major indices in Europe mostly set for a down week

The Pound Sterling (GBP) recovers nominal intraday losses and turns positive around 1.2960 against the US Dollar (USD) in Friday’s North American session.

The USDJPY pair momentum remains skewed to the upside, but the stronger Tokyo CPI could provide a deeper pullback. What’s next?

Indian Rupee (INR) crosses trade with a negative bias at the start of Friday, according to FXStreet data.

West Texas Intermediate (WTI) Oil price falls on Friday, early in the European session.

Platinum Group Metals (PGMs) trade mixed at the beginning of Friday, according to FXStreet data.

Latest data released by KOF - 28 March 2025

Latest data released by INE - 28 March 2025

Latest data released by INSEE - 28 March 2025

The NZD/USD pair retraced its recent gains from the previous session, hovering around 0.5720 during early European trading on Friday.

Here is what you need to know on Friday, March 28:

EUR/GBP continues its downward trajectory for the second straight day, trading near 0.8330 in early European hours.

The highlights include the French and Spanish CPI, the Canadian GDP and the US PCE and final UMich survey

The GBP/JPY cross weakens to near 195.00 during the early European session on Friday.

A more dour mood ahead of the open

The United Kingdom (UK) Retail Sales jumped 1% month-over-month (MoM) in February after rising 1.7% in January, the latest data published by the Office for National Statistics (ONS) showed Friday. Markets expected a 0.3% drop in the reported month.

Latest data released by ONS - 28 March 2025

Latest data released by ONS - 28 March 2025

Latest data released by GfK - 28 March 2025