Forex News

Top commodity losers are Cocoa (-9.76%) and Rice (-2.61%). Gains are led by Cheese (2.63%), Sunflower Oil (1.29%) and Sugar (1%).

Top commodity losers are Copper (-1.62%), Silver (-1.30%), Platinum (-1.27%) and Gold (-0.25%).

Top commodity losers are Natural Gas EU Dutch TTF (-3.20%), Crude Oil WTI (-3.08%), Natural Gas UK GBP (-3.01%) and Brent Crude Oil (-2.90%). Gains are led by Natural gas (2.53%).

Top currency losers are Australian Dollar (-0.66%), Turkish Lira (-0.51%), Brazilian Real (-0.49%), Euro (-0.45%) and British Pound (-0.30%). Gains are led by Dollar Index (0.26%) and Japanese Yen (0.26%).

The Ibovespa fell 0.5% to close at 127,128 on Friday, extending its weekly decline to 0.9% as renewed U.S. tariff threats from President Trump and persistent geopolitical tensions—particularly global trade uncertainties and the Ukraine conflict—dampened risk appetite in the Brazilian market. Disappointing corporate results also pressured sentiment, with BB Seguridade plunging 7% despite strong earnings that beat forecasts, as investors focused on a projected 0.4% revenue decline for 2025, a sharp contrast to its historical 15% growth and the industry’s 4.4% average, raising concerns about its long-term outlook. Lojas Renner was the worst performer, tumbling 13% after weak fourth-quarter results. The broader consumer discretionary sector also struggled, with Rumo Logística, Localiza Rent, Hapvida, and Atacadão shedding between 1.1% and 3.3%.

The S&P/TSX Composite Index dropped 1.4% to close at 25,147 on Friday, bringing its weekly loss to 1.3% as investors assessed mixed economic data that cast uncertainty over the Bank of Canada’s policy trajectory. A 0.4% decline in January retail sales, the first drop in seven months, signaled softening consumer spending after December’s strong surge, raising concerns about economic momentum. Meanwhile, inflationary pressures remained strong, with industrial producer prices rising 1.6% and the Raw Materials Price Index jumping 3.7% month-over-month, highlighting the BoC’s challenge in balancing growth and price stability while tempering expectations for further easing. Most equities traded flat to negative, but commodity producers saw sharp declines amid declining oil and gold prices. Energy giants Canadian Natural, Suncor, Imperial Oil, and Cenovus lost between 1.3% and 4.2%, while major miners Agnico Eagle, Barrick Gold, Wheaton Precious, and Franco-Nevada shed 1.6% to 2.3%.

US stocks plunged on Friday as economic data raised concerns about a slowing US economy and persistent inflation, prompting investors to seek safer assets. The S&P 500 lost 1.7%, and the Nasdaq 100 slipped 2.1%, while the Dow Jones plunged 748 points, marking its biggest loss of the year. UnitedHealth shares plunged 7.2% following reports that the Department of Justice is investigating its Medicare billing practices, making it the worst-performing Dow component. Consumer sentiment also took a hit, with the University of Michigan’s index falling to 64.7, reflecting growing concerns over inflation, which consumers now expect to rise to 4.3% in the coming year. The slide followed Walmart's (-2.5%) disappointing outlook and broader fears about the impact of President Trump's tariff policies. On the week, the S&P 500 dropped by 1.6%, while the Dow and Nasdaq slipped 2.5% and 2.4%, respectively.

Qualcomm decreased to a 4-week low of 165.42 USD. Over the past 4 weeks, Qualcomm lost 2.59%, and in the last 12 months, it increased 7.17%.

Intuit decreased to a 36-week low of 567.42 USD. Over the past 4 weeks, Intuit lost 6.67%, and in the last 12 months, it decreased 13.21%.

WTI crude oil futures lost nearly 2.9% to settle $70.4 per barrel, posting a 0.5% decline for the week, as concerns over Russian supply disruptions provided support while uncertainty loomed over a potential Ukraine peace deal. Supply concerns intensified after Russia reported a 30-40% reduction in Caspian Pipeline Consortium oil flows due to a Ukrainian drone attack, though Kazakhstan managed record-high output despite damage to its export route. Meanwhile, US crude inventories rose, while gasoline and distillate stocks fell as refinery maintenance impacted processing levels. Looking ahead, analysts expect cold US weather and increased industrial activity in China to boost oil demand in the coming weeks.

Peru's economy advanced 4.2% year-on-year in Q4 of 2024, accelerating from an upwardly revised 3.9% increase in the prior period and marking the fourth yearly expansion since Q4 of 2022, supported by strength in domestic demand (6.5%). Private consumption rose 4.0%, driven by higher employment and increased labor income. Government spending fell 0.5%, as reductions in goods and services expenditures were partially offset by higher spending on personnel and social obligations. Also, gross fixed investment gained 4.0%, led by construction (1.3%) and machinery and equipment purchases (8.5%). Meanwhile, net trade contributed positively to GDP, with exports rising 5.8% due to higher sales of non-traditional goods (12.6%), while imports surged 13.7%, reflecting greater purchases of capital goods for agriculture (43%). On the production side, most sectors expanded, including services (3.8%), manufacturing (5.0%), extractive industries (3.3%), and construction (1.3%).

Bitcoin and Ether are experiencing declines. Ether has slipped 2.07%.

Top commodity losers are Cocoa (-10.02%) and Rice (-2.29%). Gains are led by Cheese (2.70%), Sugar (1.04%) and Wheat (0.69%).

Top commodity losers are Copper (-1.35%), Platinum (-1.30%), Silver (-0.95%) and Gold (-0.06%).

Top commodity losers are Natural Gas EU Dutch TTF (-3.10%), Natural Gas UK GBP (-3.01%), Crude Oil WTI (-2.60%) and Brent Crude Oil (-2.35%). Gains are led by Natural gas (2.86%).

Aluminum futures fell to $2,670 per tonne from the nine-month high of $2,730 on February 20th, as bets that the US government may relax some sanctions on Russia eased growing concerns of low supply. The developments lifted Rusal HDRs, the world’s largest aluminum producer outside China, by 50% in the third week of February, reflecting expectations that the company may have access to new export partners. This is despite fresh threats from the European Commission that it may place fresh sanctions on Russian aluminum. Still, China produced 44 million tons of aluminum in 2024, the most on record, meaning that output will be forced to slow considerably this year as Beijing capped production at 25 million tons in 2017 to prevent excess supply and aid carbon emission targets. This is despite the likely increase in the budget deficit to support fiscal stimulus, set to pick up winds of improving credit growth.

Stocks in the US extend sell-off in the afternoon session as weak economic data and concerns over inflation weighed on investor sentiment. The S&P 500 lost 1.7%, while the Dow Jones plunged over 800 points, and the Nasdaq 100 slipped 2%. UnitedHealth shares plunged more than 7% following reports that the Department of Justice is investigating its Medicare billing practices, making it the worst-performing Dow component. Consumer sentiment also took a hit, with the University of Michigan’s index falling to 64.7, reflecting growing concerns over inflation, which consumers now expect to rise to 4.3% in the coming year. Walmart’s (-3%) warning about potential price hikes due to tariff uncertainty further dampened market confidence, contributing to Thursday’s broader market downturn. While the S&P 500 and Nasdaq are still on track for weekly gains, the Dow is facing a loss, signaling increased volatility amid economic uncertainty.

Canada’s 10-year government bond yield fell below 3.17%, retreating from a three-week high of 3.21% on February 20th, as investors weighed mixed domestic data while tracking lower US Treasury yields. An expected 0.4% drop in January retail sales, the first decline in seven months, signaled softening consumer spending after December’s strong gain, raising concerns about economic momentum. Conversely, persistent inflationary pressures underscored the BoC's challenge in balancing growth and price stability, as industrial producer prices surged 1.6% and the Raw Materials Price Index jumped 3.7% month-over-month, tempering rate cut expectations. Additionally, Canadian yields followed US Treasuries lower after weak services data reinforced Fed rate cut bets, while further support came from the Treasury’s decision to maintain the current share of long-term securities and the Fed’s signal that it may pause asset sales, boosting bond demand.

The FTSE MIB rose about 0.5% to close at 38,421 on Friday, halting two straight sessions of losses. Market participants assessed the latest PMI data and a new set of corporate earnings, while bracing for German elections on Sunday. On the macro front, there were mixed signals on the health of the European and US economies. Among single stocks, Campari (+6.3%) stood out as its management considers a cost-cutting plan. Poste (+2.6%) also saw gains, bolstered by its plan to play a central role in the telecom sector through its stake in Tim. Other notable gainers included Mps (+2.2%) and Moncler (+2.3%). On the downside, Recordati (-1.4%) and Buzzi (-1.1%) posted the biggest losses. For the week, the index advanced about 1.2%.

European stocks closed slightly higher on Friday, trimming the pulling back from record highs earlier in the week as markets assessed the latest PMI data and a batch of corporate returns, while positioning for German elections over the weekend. The STOXX 50 added 0.3% and the STOXX 600 gained 0.5% Private sector activity in the Eurozone remained in its slight expansion as a degree of strength for service providers offset another period of contraction for manufacturers. On the political front, the center-right CDU was leading the latest polls and incumbent center-left SPD fell into third place. Air Liquide jumped over 3% after posing strong fourth-quarter results and delivering an optimistic guidance for the year. Banks also closed higher , while L’Oreal advanced 2.5%. Outside the Eurozone, Novo Nordisk surged by 5.5% after the FDA stated that Wegovy and Ozempic drug shortages have been resolved, potentially removing the permission of other pharmacies to sell cheaper alternatives.