The Dow Jones Industrial Average (DJIA) fought back at the brink on Friday, clawing back roughly 500 points following a string of bad losses that saw the Dow Jones crumble 3,373 points, or -7.66%, peak-to-trough over a two-week period.
Banco de Mexico (Banxico) Director of Economic Research Alejandrina Salcedo Cisneros said that uncertainty is having a widespread impact on the country's businesses, so the outlook points to a moderate expansion of regional economies.
The Mexican Peso (MXN) rallied against the US Dollar (USD) on Friday, ignoring softer-than-expected economic data revealed during the week that suggests the economy might slow down.
The Pound Sterling registers back-to-back bearish days, dropping some 0.14% on Friday against the Greenback after economic data from the UK revealed that the Gross Domestic Product (GDP) contracted.
The EUR/USD pair edges higher and recovers to 1.0900 at the time of writing on Friday, erasing its sluggish performance from earlier this week. The resurgence in the pair comes after two headlines emerged late Thursday. United States (US) Senate
Pound Sterling (GBP) is little changed on the session after UK GDP data fell 0.1% in the January month, a little weaker than forecast, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The Canadian Dollar (CAD) is trading slightly more firmly on the session, helped by an improvement in risk appetite that has lifted high beta FX generally, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, dips lower again on Friday after a few headlines on tariffs and the US spending bill. The index, which has been limited below the 104.00
Gold has broken out above the upper limit of the range within which it consolidated since February denoting possibility of extension in uptrend, Société Générale's FX analysts note.
It has again been a volatile week in the financial markets. 10Y Bunds almost reached 2.95% during the week but has declined and are trading around 2.85%. 10Y US Treasuries has also been trading in a wide range between 4.15% and 4.35% and is currently at 4.26%, Danske Bank's FX analysts Kristoffer Kjær Lomholt and Filip Andersson report.
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