RUB/USD Exchange rate

February Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve's preferred gauge of inflation, from the US will be watched closely by market participants. Investors will scrutinize the data to reaffirm whether the Fed's cautious stance to policy-easing is warranted.

Gold price refreshes a fresh all-time peak, closing on the $3,100 mark. The global risk sentiment continues to be undermined by worries over Donald Trump's auto tariffs announced earlier in the week, with traders rushing for safety in Gold price. US PCE inflation data awaited.

EUR/USD is on the back foot below 1.0800 early Friday, struggling to capitalize on the previous day's goodish bounce. Trump's tariff jitters keep investors on the edge, leaving the pair gyrating in a range ahead of the key US PCE inflation data. 

US President Donald Trump’s tariff policies are expected to escalate market uncertainty and risk-off sentiment, with the Kobeissi Letter’s post on X this week cautioning that while markets may view the April 2 tariffs as the "end of uncertainty," it anticipates increased volatility. 

Trump has so far enacted tariff changes that have lifted the trade-weighted average tariff rate on all US imports by around 5.5-6.0%-points. While re-rerouting of trade will decrease the effectiveness of tariffs over time, the current level is already close to the highest since the second world war.