The US dollar was set to end the week on a positive note after Fed Chair Jerome Powell testified twice and other Fed speakers signalled a hawkish view on the economy. The USD had appreciated on a weekly basis up until Thursday when President Donald Trump announced a 25 percent tariff on steel and 10 percent on aluminium imports. Markets reacted to the protectionist measure with Trump unfazed by criticism and tweeting that Trade wars are good, and easy to win. The decision turned a USD on the rise against major pairs into a mixed bag. The USD is up against the AUD, CAD, GBP and NZD but depreciated against the EUR and JPY.
4 central banks (RBA, BOJ, BOC and ECB) expected to keep rates unchanged
US wages could rise increasing inflation anxiety
Employment data to be released in the US and Canada
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By:Alfonso Esparza
Senior Currency Analyst at Market Pulse
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