The US Dollar continues to lose ground as global market dynamics shift, influenced by President Trump's announcement of reciprocal tariff delays. In Friday's European session, GBP/USD edged closer to 1.2600, while EUR/USD gained momentum, surpassing 1.0450. These movements signal a shift in risk sentiment, which remains buoyant amid evolving economic policies under the Trump administration.
President Trump has imposed tariffs on several of America's trade partners, with more levies anticipated in the coming quarters. This move is likely to provoke foreign retaliation and heighten global trade tensions. Market participants are closely monitoring these developments as they assess potential impacts on trade and economic growth.
The focus now turns to the upcoming US Retail Sales data, a key economic indicator that may further influence market sentiment. As traders await this data release, they continue to digest the implications of Trump's tariffs alongside updates on the Russia-Ukraine peace deal.
In the cryptocurrency market, BNB trading volume reached an impressive 5.13 billion. The long-to-short ratio for BNB attained its highest level in over a month, reflecting increased trader activity and interest. BNB's price hovered around $680 on Friday, after rallying nearly 11% throughout the week.
Traders are keenly observing the intricate interplay of these factors as they navigate the markets. The extended downside of the US Dollar, coupled with delayed tariffs and evolving international dynamics, presents both opportunities and challenges.