Loonie edges down despite positive data
The Canadian dollar fell against most major rivals on Friday amid an escalating global trade war despite positive economic data.
Earlier data showed Canadian GDP rose 0.4% in February, beating estimates of a 0.3% rise.
On trading, the CAD/USD pair fell 0.1% as of 20:17 GMT to 0.6983.
Sterling
The GBP/USD pair fell 0.1% as of 20:18 GMT to $1.2943.
Earlier data showed UK retail sales rose 1% last month, beating estimates of a 0.3% fall.
US Dollar
The dollar index fell 0.3% as of 19:58 GMT to 104.02, with a session-high at 104.5, and a low at 103.9.
Earlier government data showed US core personal spending rose 0.4% m/m and 2.8%% y/y, beating estimates in both cases.
US President Donald Trump announced aggressive 25% tariffs on all imported cars and auto parts earlier this week, and warned the EU and Canada from working together to retaliate against Washington.
According to the University of Michigan, the final reading for the March consumer confidence survey stood at 57.00, compared to 57.9 in the previous reading.
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Gold climbs to record highs and marks weekly gains
Gold prices rose on Friday as the dollar index fell against most major rivals, with the precious metal marking weekly gains after hitting record highs.
Earlier government data showed US core personal spending rose 0.4% m/m and 2.8%% y/y, beating estimates in both cases.
US President Donald Trump announced aggressive 25% tariffs on all imported cars and auto parts earlier this week, and warned the EU and Canada from working together to retaliate against Washington.
According to the University of Michigan, the final reading for the March consumer confidence survey stood at 57.00, compared to 57.9 in the previous reading.
Otherwise, the dollar index fell 0.3% as of 19:58 GMT to 104.02, with a session-high at 104.5, and a low at 103.9.
On trading, gold spot prices rose 0.7% as of 19:59 GMT to $3113.9 an ounce.
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Wall Street declines after forecast-beating inflation data
US stock indices fell on Friday following inflation data which beat expectations due to concerns about the trade war.
Earlier government data showed US core personal spending rose 0.4% m/m and 2.8%% y/y, beating estimates in both cases.
US President Donald Trump announced aggressive 25% tariffs on all imported cars and auto parts earlier this week, and warned the EU and Canada from working together to retaliate against Washington.
On trading, Dow Jones fell 1% as of 14:23 GMT, or 403 points to 41,896 points, while S&P 500 slid 1.1%, or 63 points to 5630 points, as NASDAQ tumbled 1.6%, or 283 points to 17,522 points.
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US personal spending rises yearly in February
US personal spending rose 2.5% y/y in February, matching estimates and the same as January.
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