US Pre Market Open: AUD/USD stopped out, EUR/USD change setup, EUR/CHF no change

USD/JPY attracts fresh sellers for the second straight day following the release of Tokyo CPI, which grew slightly more than expected in February. This comes on top of hawkish comments by BoJ officials and backs the case for further policy tightening, providing a modest lift to the Japanese Yen. Apart from this, sustained safe-haven buying, amid trade-related uncertainties and geopolitical tensions, benefits the JPY's safe-haven status. However, reduced Fed rate cut bets underpin the US Dollar and could help limit losses for the currency pair.

AUD/USD picks up bids above  0.7100 following the previous day's modest pullback and remains on track to register gains for the sixth week in a row as the RBA's hawkish stance continues to underpin the Aussie. However,  trade uncertainties and threats of imminent US strikes on Iran act as a headwind for the risk-sensitive Australian Dollar.

Gold consolidates previous rebound near $5,200 amid risk-off markets, awaiting US PPI release. The US Dollar eyes a flattish weekly close as dovish Fed outlook and tariff woes outweigh geopolitical risks. Gold yearns for acceptance above $5,200 to resume the uptrend, with a bullish RSI in play.

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary. 

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Initial Jobless Claims in the week ending February 21 came in at 212K, below economists' expectations of 215K but slightly above the previous reading of 208K. Continuing Claims also declined to 1.833 million, signaling stabilization in labor market conditions.