Session Recap: The USD retraces and the Euro advances against major competitors

FXstreet.com (San Francisco) - The Greenback traded under pressure on Friday, ceding ground against its majors competitors except the Pound. The EUR/USD advanced to test the 1.3100 resistance with a weekly close around 1.3070. The GBP/USD extended Thursday gains and has closed the week above the 1.5100 level on Friday.

The AUD/USD has continued with its rally to consolidate levels around 1.0400. The USD/JPY lost the 96.00 position and after trading in range almost all the week, the pair collapsed to 95.10 and it has closed at 995.25.

Main Headlines in America (in chronological order):

American equity markets fall as inflation rises to 2%

US: Reuters/Michigan Cons. Sent. Index fell to 71.8 in March

Forex: EUR/USD pulls back from above 1.3100

Commodities Brief – Silver cannot breach 29.00 level, USDIX poised for weekly drop as precious metals pare losses

Fundamental Afternoon Wrap: EU Framework under question while EU leaders look for growth

Forex: USD/JPY falls to 1-week low

S&P rise to 1600 requisite on steadfast US growth, USD wanes across the board

Forex: GBP/USD retraces gains to 1.5120

Forex: AUD/USD jumps above 1.0400

Forex: USD/CAD stabilizes around 1.0200

Forex: EUR/JPY bounces after 150-pip drop

Forex: US Dollar Index bouncing off lows, around 82.20/25

Forex: EUR/USD stuck around 1.3055/60

Wall Street closes Friday lower, but advanced on the week