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Nomura economists expect the Bank of England to keep rates on hold next week, highlighting that $100 Oil could add about 0.6 percentage points to UK CPI via fuel costs.

ING’s Chris Turner argues USD/JPY is now firmly in intervention territory, with markets watching whether any action involves only Japanese authorities or a fully joint move with the Federal Reserve.

TD Securities, led by Robert Both and colleagues, expects the Bank of Canada to leave the policy rate at 2.25% in March.

Royal Bank of Canada (RBC) economist Claire Fan notes that February’s Canadian labour market data were weak, with employment falling and the unemployment rate rising to 6.7% as participation declined. She highlights that volatile monthly data are being distorted by slower population growth.

AUD/USD trades lower on Friday at around 0.7040 at the time of writing, down 0.46% on the day, after hitting a multi-year high at 0.7187 earlier in the week. The pullback comes as the US Dollar (USD) strengthens and risk sentiment deteriorates across financial markets.

Nordea strategists Ole Håkon Eek-Nielsen and Jan von Gerich argue the Federal Reserve is unlikely to cut rates and could even face pressure to hike as a potential energy shock lifts inflation risks.

Statistics Canada will release its Labour Force Survey on Friday, and market participants expect a modest uptick in job creation in February, with the Employment Change foreseen at 10K following the -24.8K in the previous month.

MUFG’s Head of Research Derek Halpenny notes the US Dollar has broken above the 100 level on DXY and pushed USD/JPY to fresh year-to-date highs, with Oil stabilizing near USD 100.

NZD/USD extends its decline on Friday, trading around 0.5820 at the time of writing and down 0.58% on the day. The pair records a fourth consecutive daily loss as the US Dollar (USD) strengthens amid rising geopolitical tensions and renewed inflation concerns.

Brown Brothers Harriman’s (BBH) Elias Haddad reports that GBP/USD has dropped below 1.3300 and remains vulnerable after UK GDP unexpectedly stalled in January. Zero monthly growth leaves output below the Bank of England’s Q1 projection.