Trading news

The Japanese Yen (JPY) edges lower during the Asian session on Friday amid worries about the potential economic fallout from US President Donald Trump's reciprocal tariffs.

Bank of Japan Governor Kazuo Ueda said early Friday that US tariffs are likely to exert downward pressure on Japan and the global economies.

The AUD/USD pair edges higher to around 0.6330 during the early Asian session on  Friday. The US Dollar (USD) weakens against the Australian Dollar (AUD) as US President Donald Trump's fresh trade tariffs stoke fears of a global recession.

Bank of Japan Deputy Governor Shinichi Uchida said on Friday that the central bank will raise interest rates if underlying inflation heightens against the background of continued improvements in the economy. 

Japan’s Finance Minister Shunichi Kato said late Thursday that he is concerned about US tariffs that will impact the Japanese economy and could have a significant impact on trade systems. However, Kato does not comment on foreign exchange. 

New Civil Liberties Alliance, a conservative legal group, on Thursday filed what it said was the first lawsuit seeking to block US President Donald Trump's tariffs on Chinese imports, claiming that the president overstepped his authority, per Reuters. 

EUR/USD rallied hard on Thursday, with the Euro getting pushed higher alongside the rest of the market as the US Dollar tumbles on the heels of the Trump administration’s combined flat and “reciprocal” tariff packages that were unveiled this week.

Japanese media Asahi reported on Thursday that the Japanese government is considering what actions to take over the new tariffs, including an extra budget.Prime Minister Shigeru Ishiba on Thursday highlighted its disappointment and "serious concern" over the US move to impose reciprocal tariffs on t

Japan Overall Household Spending (YoY) above forecasts (-1.7%) in February: Actual (-0.5%)

Gold price (XAU/USD) recovers some lost ground to near $3,115 during the late American session on Thursday after facing some profit-taking in the previous session.

The International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Thursday that sweeping tariffs announced on Wednesday by US President Donald Trump represent a significant risk to the global economy at a time when growth has been sluggish.

GBP/USD briefly clipped the 1.3200 handle for the first time in six months on Thursday, climbing into fresh highs as the Greenback turns sour across the board.

The NZD/USD pair continued its positive run on Thursday, holding firm near the 0.5800 area and gaining momentum ahead of the Asian session.

AUD/JPY saw renewed bearish momentum on Thursday, falling toward the 92.40 region and erasing recent recovery attempts.

The Canadian Dollar (CAD) soared 1.1% against the US Dollar (USD) on Thursday, sending USD/CAD to 17-week lows near the 1.4000 handle for the first time since last December.

During Thursday’s session, the USD/CHF pair suffered a sharp decline, tumbling toward the 0.8600 region and marking its weakest levels in nearly six months.

Federal Reserve (Fed) Board of Governors member Lisa Cook joined the ever-growing number of central policy planners on Thursday to caution that tariffs are likely to push the Fed further away from rate cuts instead of closer as inflation risks climb.

The Greenback tumbled to multi-month lows as market participants digested President Trump’s newly announced reciprocal tariffs, all against a backdrop of sharp losses in global stock markets and escalating concerns over a global trade war.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of major currencies, is dropping significantly on Thursday, moving near the 102.00 zone during the North American session.

The Dow Jones Industrial Average (DJIA) bottomed out near the 40,800 level after taking a steep plunge during overnight markets.