Forex Today: Tariffs, German inflation, and UK GDP gather attention

Pablo Piovano FXStreet

The Greenback extended its recovery from recent lows, adding to Wednesday’s uptick amid the move lower in yields and intense concerns surrounding the prospects of a global trade war.

Here is what you need to know on Friday, March 14:

The US Dollar Index (DXY) rose to three-day highs and regained the 104.00 barrier helped by higher US yields. The preliminary Michigan Consumer Sentiment takes centre stage across the Atlantic.

EUR/USD extended its correction from recent multi-month tops, receding to three-day lows in the 1.0825-1.0820 band. Germany will be at the centre of the debate with the releases of the final Inflation Rate and Wholesale Prices. In addition, the ECB’s Cipollone is due to speak.

GBP/USD set aside two daily advances in a row and retreated to the low-1.2900s on the back of further recovery in the US Dollar. An interesting UK calendar will feature GDP figures, Industrial and Manufacturing Production, Goods Trade Balance results, Construction Output, and the NIESR Monthly GDP Tracker.

USD/JPY halted its weekly recovery on the back of the resurgence of the appreciation in the Japanese yen, limiting the pair’s upside to the 148.40 zone. Next on tap in Japan will be the Balance of Trade readings and Machinery Orders, all expected on March 19.

Sellers regained the upper hand and forced AUD/USD to resume its downtrend, slipping back to the 0.6270 zone amid further gains in the Greenback. The next key data release will be the labour market report on March 20.

WTI prices resumed their downward bias and eroded two consecutive daily advances on the back of steady tariff concerns and the stronger Dollar.

Prices of Gold added to the weekly rebound and surged to all-time highs past the $2,980 mark per troy ounce. Silver prices gathered extra steam and came close to the $34.00 mark per ounce, levels last traded in late October.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

AUD/USD turns lower toward 0.7000 after mixed Australian jobs data

AUD/USD is losing ground toward 0.7000 in the Asian session on Thursday, following the release of the Australian August jobs report, which showed that the Unemployment Rate rose to 4.6% versus 4.5% expected, while Employment Change beat estimates, arriving at 39.5K. Traders also remain unnerved ahead of the critical Trump-Xi meeting.

USD/JPY keeps the red near 158.00 as Japanese Yen firms up

USD/JPY retreats from three-week highs and holds losses near 158.00 in the Asian session on Thursday. Surging Japanese bond yields lift the Yen amid looming intervention risks, while the US Dollar preserves overnight gains to a two-month high amid hawkish Fed bets and elevated US bond yields.

Gold bears tighten their grip as Fed rate hike bets rise

Gold sticks to a negative bias for the second straight day, trading below the $4,300 mark or a one-week low during the first half of the European session as traders await a crucial meeting between US President Donald Trump and his Chinese counterpart Xi Jinping. Expectations for a major announcement are low, though market players will look for any progress on rare earths, technology restrictions, and an extension of the current US-China truce.

XRP is flashing three bullish signals heading into a historically weak October

XRP (XRP) is still flashing 3 bullish signals across its holders, derivatives, and ETF data. These signals come as the token gave back part of its September gains on Thursday. The token traded near $1.50 at press time, down about 6.3% over 24 hours, according to BeInCrypto Markets data. The pullback still leaves XRP up over 15.6% on the week, a gain that tracks a broader market rally.

Advanced economies: From one example of resilience to another

History tends to repeat itself in advanced economies. Once again, growth ultimately fell short of expectations by only a small margin in the first half of 2026, despite the conflict in Iran. As early as 2025, the impact of tariffs was less severe than feared.

BoJ Recap: Not as hawkish as expected

The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.