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Here is what you need to know on Friday, March 20:

The Indian Rupee (INR) extends its downfall against the US Dollar (USD) on Friday after a holiday the previous day.

The Canadian Dollar (CAD) outperforms its major currency peers, but trades flat against the US Dollar (USD) at around 1.3740 during the European trading session on Friday.

ING’s Francesco Pesole highlights that the ECB’s cautious tone masks a hawkish shift, with officials reportedly considering an April rate hike if inflation overshoots. Markets now price earlier tightening and higher odds of back-to-back moves.

The AUD/USD pair trades with mild gains around 0.7090 during the early European session on Friday. The Australian Dollar (AUD) edges higher against the Greenback, following the hawkish stance from the Reserve Bank of Australia (RBA).

The EUR/GBP cross loses traction to near 0.8620 during the early European session on Friday. The Pound Sterling (GBP) edges higher against the Euro (EUR) after monetary policy decisions from both the Bank of England (BoE) and the European Central Bank (ECB).

The Indian Rupee (INR) extends its downfall against the US Dollar (USD) on Friday after a holiday the previous day.

The USD/CHF pair edges higher to near 0.7890 during the early European trading session on Friday. The Swiss Franc pair gains as the US Dollar (USD) bounces back after a sharp sell-off the previous day.

Gold price (XAU/USD) rebounds to near $4670, snapping the seven-day losing streak during the early European session on Friday. The precious metal edges higher as the ongoing US-Iran conflict spikes demand for safe-haven assets. Traders will closely monitor the situation in the Middle East.

West Texas Intermediate (WTI), futures on NYMEX, trade over 1% lower to near $93.10 during the early European trading session on Friday.