The Canadian dollar rose against most major rivals on Friday following retail sales data.

Earlier government data showed retail sales rose 0.8% in March, beating estimates of a 0.6% rise, while core sales fell 0.7%.

On trading, the CAD/USD pair rose 1% as of 20:20 GMT to 0.7290.

Aussie

The Australian dollar rose 1.3% as of 20:20 GMT to $0.6497.

US Dollar

The dollar index fell 0.9% as of 20:04 GMT to 99.07, with a session-high at 99.9, and a low at 99.05.

Trump complained that dealing with the EU is proving very difficult, and recommended imposing 50% tariffs on the EU starting June 1

The new moves come in a time when trade tensions diminished somewhat after a brutal cycle of fear and concerns in April that almost pushed S&P 500 into bearish territory, before Trump paused most reciprocal tariffs.

Investors were returning to the “Buy America” mindset after the US made trade deals with China and the UK with hopes of even more deals to come, but recent measures by Trump damaged such expectations.

Before Friday’s losses, the main indices were already starting to fall due to concerns about higher US treasury yields, with the S&P 500 falling 2% this week, and Dow Jones losing 1.9%, while NASDAQ gave up 1.5% so far since Monday.

Earlier on Thursday, the House of Representatives passed Trump’s massive tax reform bill, and sent it to the Senate, with concerns growing about the massive cost of the plan to the debt burden. 

Gold prices rose on Friday as the dollar tumbled against most major rivals following new tariffs threats by US President Donald Trump.

Trump complained that dealing with the EU is proving very difficult, and recommended imposing 50% tariffs on the EU starting June 1

The new moves come in a time when trade tensions diminished somewhat after a brutal cycle of fear and concerns in April that almost pushed S&P 500 into bearish territory, before Trump paused most reciprocal tariffs.

Investors were returning to the “Buy America” mindset after the US made trade deals with China and the UK with hopes of even more deals to come, but recent measures by Trump damaged such expectations.

Before Friday’s losses, the main indices were already starting to fall due to concerns about higher US treasury yields, with the S&P 500 falling 2% this week, and Dow Jones losing 1.9%, while NASDAQ gave up 1.5% so far since Monday.

Earlier on Thursday, the House of Representatives passed Trump’s massive tax reform bill, and sent it to the Senate, with concerns growing about the massive cost of the plan to the debt burden. 

Otherwise, the dollar index fell 0.9% as of 20:04 GMT to 99.07, with a session-high at 99.9, and a low at 99.05.

On trading, gold spot prices rose 2.1% as of 20:05 GMT to $3365.2 an ounce, with the precious metal marking a 5.5% weekly profit.

US stock indices fell on Friday amid renewed concerns about a vicious global trade war.

Apple’s stock price tumbled over 2% after Trump threatened 25% tariffs on any iPhones not made in the US, representing the first such focused threat on a single company.

Trump also complained that dealing with the EU is proving very difficult, and recommended imposing 50% tariffs on the EU starting June 1

The new moves come in a time when trade tensions diminished somewhat after a brutal cycle of fear and concerns in April that almost pushed S&P 500 into bearish territory, before Trump paused most reciprocal tariffs.

Investors were returning to the “Buy America” mindset after the US made trade deals with China and the UK with hopes of even more deals to come, but recent measures by Trump damaged such expectations.

Before Friday’s losses, the main indices were already starting to fall due to concerns about higher US treasury yields, with the S&P 500 falling 2% this week, and Dow Jones losing 1.9%, while NASDAQ gave up 1.5% so far since Monday.

Earlier on Thursday, the House of Representatives passed Trump’s massive tax reform bill, and sent it to the Senate, with concerns growing about the massive cost of the plan to the debt burden. 

On trading, Dow Jones fell 0.9% as of 14:42 GMT to 41,474 points, while S&P 500 shed 1%, or 61 points to 5780 points, as NASDAQ added 1.3%, or 237 points to 18,670 points.

Palladium prices fell on Friday even as the dollar lost ground against most major rivals, with the metal falling under pressure due to demand concerns. 

In a partisan vote on Thursday, the House of Representatives voted in favor of Trump’s bill to cut taxes and increase military spending.

The bill, which has now moved to the Senate, is expected to increase government debt by trillions of dollars and spike the deficit, in a time of increasing concerns about tariff-related inflation.

The budget office at Congress estimates the cost of the tax bill at $4 trillion.

US 30-year treasury yields are up to 5.1%, the highest since 2023.

US 10-year note yields traded at just below 4.6%, with higher long-term yields usually pressuring the economy and impacting interest rates across economic sectors.

 Demand on minerals and commodities could suffer if the US economy falls into recession or faces risks due to higher debt levels.

Otherwise, the dollar index fell 0.6% as of 14:21 GMT to 99.4, with a session-high at 99.9, and a low at 99.1.

On trading, palladium futures due in June fell 2.7% as of 14:22 GMT to $999 an ounce.