Here's what you need to know on Friday, February 14th:
The US dollar has remained stable on Friday's European morning after suffering a major loss against its major rivals on Thursday. Eurostat will release preemption changes and gross domestic product (GDP) data in the fourth quarter. Later in the session, the US Economic Calendar will cover January retail sales and industrial production data.
This week's US Dollar Price
The table below shows the rate of change in the US dollar (USD) against listed currencies this week. The US dollar was the weakest against the British pound.
| USD | EUR | GBP | JPY | CAD | aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -1.29% | -1.29% | 0.82% | -0.78% | -0.76% | -0.44% | -0.61% | |
| EUR | 1.29% | 0.06% | 2.25% | 0.63% | 0.53% | 0.94% | 0.76% | |
| GBP | 1.29% | -0.06% | 2.03% | 0.54% | 0.47% | 0.88% | 0.71% | |
| JPY | -0.82% | -2.25% | -2.03% | -1.62% | -1.49% | -1.25% | -1.39% | |
| CAD | 0.78% | -0.63% | -0.54% | 1.62% | 0.04% | 0.31% | 0.13% | |
| aud | 0.76% | -0.53% | -0.47% | 1.49% | -0.04% | 0.41% | 0.23% | |
| NZD | 0.44% | -0.94% | -0.88% | 1.25% | -0.31% | -0.41% | -0.18% | |
| CHF | 0.61% | -0.76% | -0.71% | 1.39% | -0.13% | -0.23% | 0.18% |
The heatmap shows the rate of change of each other's major currencies. The base currency is selected from the left column, and the estimated currency is selected from the top row. For example, if you select US dollars from the left column and move along the horizon to Japanese Yen, the rate of change shown in the box represents USD (base)/JPY (QUOTE).
During an early US session on Thursday, US President Donald Trump suggested that mutual tariffs could be announced later that day. A quick response was that the US dollar gathered strength against its peers. However, later in the day, USD was subjected to new sales pressure as the market mood improved and investors sighed at ease. Trump declined to impose fresh tariffs and explained that he had signed a memo ordering his economics team to devise mutual tariff plans in all countries that charge US imports and imports. The US major stock indexes decisively outperformed the day, with the USD index losing more than 0.8% of the day.
EUR/USD We gained bullish momentum later on Thursday, climbing to a fresh two-week height of nearly 1.0470. The pair will stage technical fixes early on Friday, but will retain them above 1.0450.
GBP/USD Benefiting from improved risk mood, it rose to its highest level in over a month, exceeding 1.2570. The pair remained relatively quiet on Friday European mornings, trading in a tight range just above 1.2550.
Following the three-day meeting, USD/jpy They turned that direction on Thursday, losing more than 1% that day. The pair will continue to be in the lower position, launching European sessions and trading close to 152.50.
gold Following the latest headlines surrounding Trump's tariff policy, U.S. Treasury bond yields rose more than 0.8% on Thursday and more than 0.8% on Thursday as a sharp decline in 10-year twenty-year bond yields. On Friday European mornings, Xau/USD trades slightly higher in a day to over $2,930.
Customs FAQ
Duties are customs duties imposed on the import or product category of a particular product. Tariffs are designed to help local producers and manufacturers become more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as a tool for protectionism, along with trade barriers and import allocations.
Although both tariffs and taxes generate government revenue to fund public goods and services, there are several distinctions. Customs duties are paid upfront at the port of entry, but taxes are paid at the time of purchase. Taxes are levied on individual taxpayers and businesses, and customs duties are paid by the importer.
There are two ways of thinking among economists regarding the use of customs duties. Some argue that tariffs are necessary to protect domestic industries and address trade imbalances, but others could raise them high in the long term, and the Tat's tariffs Some view it as a harmful tool that could damage the trade war by encouraging it.
During preparations for the November 2024 presidential election, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of the total US imports. During this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. So when Trump imposes tariffs, he wants to focus on these three countries. He will also use the revenue generated through tariffs to reduce personal income tax.
