On Friday, as traders anticipated important US jobs data and uncertainty over US President Donald Trump’s trade intentions wrung markets, global stock markets fell and the currency fell. After Trump signed an executive order creating a “Strategic Bitcoin Reserve” without intending to buy any of the cryptocurrency outright, the price of bitcoin fell as much as 5.7%. The unit made a slight recovery and traded about 1% lower.
Even though Trump announced Thursday that he will postpone tariffs on Canadian and Mexican goods covered by a North American trade pact until April 2, European and Asian stocks were down. It’s confusing because Trump keeps changing his mind, and businesses don’t know what’s happening daily,” he continued.
The euro maintained its strong support. The European Central Bank is under pressure to halt interest rate decreases, and inflation worries are heightened by a planned increase in Germany’s defense and infrastructure spending.
For the sixth consecutive meeting, the ECB lowered borrowing prices on Thursday in the face of a faltering eurozone economy. According to official data released on Friday, the eurozone economy increased by 0.9% last year, which was more than anticipated.
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