The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is currently flat to slightly higher near 104.50 at the time of writing on Friday.
The postponement of US import tariffs on certain goods from Canada and Mexico granted by US President Trump at the beginning of March will end next Wednesday, Commerzbank's commodity analyst Carsten Fritsch notes.
US natural gas prices traded under pressure as the US witnessed its second straight week of inventory injection while weather forecasts remained mixed, ING's commodity experts Ewa Manthey and Warren Patterson note.
Meanwhile, Copper has continued to retreat from its nine-month high as expectations for the ex-US tightness are retreating following reports earlier this week that US tariffs on Copper imports could be imposed within weeks, not months, ING's commodity experts Ewa Manthey and Warren Patterson note.
The USD/CHF pair ticks higher to near 0.8830 but trades inside Thursday’s trading range in Friday’s North American session ahead of the United States (US) Personal Consumption Expenditure Price Index (PCE) data for February, which will be published at 12:30 GMT.
Gold surged to a fresh record high this morning, surpassing the previous record hit just yesterday, after US President Donald Trump announced 'permanent' 25% tariffs on auto imports, intensifying trade tensions, ING's commodity experts Ewa Manthey and Warren Patterson note.
This morning saw the release of March inflation figures for the Tokyo area, which are traditionally a good leading indicator for inflation in Japan as a whole.