Market News

• Prior was 3.91m (worst reading since 2024 but revised to 4.02m)
• Home sales change +1.7% vs -8.4% prior
• Days on the market 47 vs 46 prior
• Inventory at months 3.8 vs 3.7 months prior
• Median prices $398,000 vs $396,800 prior

US existing home sales, published monthly by the National Association of Realtors (NAR), measure completed transactions of previously owned single-family homes, townhomes, condominiums, and co-ops based on closings reported through Multiple Listing Services. Because roughly 90% of home purchases involve existing rather than new properties, the series is widely regarded as one of the most important barometers of housing market health and, by extension, broader consumer spending.

The US housing market spent much of 2025 in a…

US Secretary of Defense Pete Hegseth held a briefing at the Pentagon today and said:

• Today will be the hardest day of strikes yet
• Iran yesterday fired its lowest amount of missiles
• Iran made a big mistake by targeting neighbours
• Objectives are to destroy Iran's navy and defense industrial base
• Iran stands alone and is badly losing

Separately, a top US general said the US is looking at options if it's tasked with escorting ships through the Strait of Hormuz.

Eyes are mostly on Trump after yesterday's re-framing of the 4-5 week timeline, saying they're far ahead of that. That was clearly a TACO due to the drop in stock markets and jump in oil. In response, we saw the mother of all reversals in the crude market. Today that's continued with WTI down…

• Nasdaq rebounds as oil prices ease and Trump suggests the war could end soon. What's next?
• US February NFIB small business optimism index 98.8 vs 99.6 expected
• ECB policymakers stress patience, assess if energy price shock is temporary or not
• French finance minister says "not there yet" with regards to release of oil reserves
• The risk mood continues to perk up as we get into European trading
• Gold remains stuck in a tight range as traders await new catalysts to trigger a breakout
• AUD/USD already looking to eye the highs for the year as the market mood picks up
• What are the main events for today?
• There is 180 million barrels of disruption so far, says Saudi Aramco CEO
• RBA policymaker Hauser says oil price and Middle East volatility is a "genuine…

• Prior 99.3
• Full report here

This is a minor setback but the index remains above its 52-year average of 98. This is not a market moving report and it certainly won't be now that the focus is solely on the US-Iran war.

NFIB Chief Economist Bill Dunkelberg said: "Although optimism declined slightly, small businesses report feeling more certain in February as they look toward the coming months. High sales and increased profits made February a more positive month for many owners, but competition from large businesses is putting stress on Main Street firms as they navigate the current economic climate. Labour quality and sales improved."

The NFIB Small Business Optimism Index is a monthly economic indicator that measures the "pulse" of small…

IC Markets Global – Europe Fundamental Forecast | 10 March 2026

What happened in the Asia session?

Asian markets traded mixed-to-higher as China’s blockbuster trade surplus ($213.62B, exports +21.8%) offset soft imports and supported risk sentiment, while Japan’s below-consensus GDP (0.1% QoQ) lifted Nikkei 225 +3.26% and yen; most impacted were JPY pairs, AUD (China trade sensitivity), Nikkei exporters, and Hang Seng tech amid global cues.

What does it mean for the Europe & US sessions?

Traders should monitor escalating Middle East tensions, particularly U.S.-Iran conflicts, driving oil prices toward triple digits (Brent nearing $100/barrel) and boosting safe-haven demand for gold near $5,100/oz, while pressuring equities and…

•  Asian Stock Markets : Nikkei up 1.60%, Shanghai Composite up 0.39%, Hang Seng up 1.48% ASX up 0.72%
• Commodities : Gold at $5,164.46 (1.20%) Silver at $88.230 (4.40%), Brent Oil at $94.94 (-4.04%), WTI Oil at $91.07 (-3.96%)
• Rates : US 10-year yield at 4.210, UK 10-year yield at 4.6540, Germany 10-year yield at 2.8649

• (JPY) Leading Indicators 112.4%  to 113.0%  expected

Asian stock markets traded mostly higher on Tuesday, supported by positive cues from Wall Street overnight and easing geopolitical concerns. Investor sentiment improved after U.S. President Donald Trump suggested that the U.S. conflict with Iran could end soon, stating that Iranian forces had lost…

•  Asian Stock Markets : Nikkei up 1.60%, Shanghai Composite up 0.39%, Hang Seng up 1.48% ASX up 0.72%
• Commodities : Gold at $5,164.46 (1.20%) Silver at $88.230 (4.40%), Brent Oil at $94.94 (-4.04%), WTI Oil at $91.07 (-3.96%)
• Rates : US 10-year yield at 4.210, UK 10-year yield at 4.6540, Germany 10-year yield at 2.8649

• (JPY) Leading Indicators 112.4%  to 113.0%  expected

Asian stock markets traded mostly higher on Tuesday, supported by positive cues from Wall Street overnight and easing geopolitical concerns. Investor sentiment improved after U.S. President Donald Trump suggested that the U.S. conflict with Iran could end soon, stating that Iranian forces had lost…

US Stocks Close Higher on Peace Hopes – Nasdaq up 1.4%
Financial markets experienced another highly volatile trading session overnight, with sharp swings across financial products as investors reacted to ongoing developments in the conflict in the Middle East. Despite significant intraday losses earlier in the session, US equity markets recovered strongly to close in positive territory after comments from President Trump raised hopes that the conflict could be approaching a resolution. The Dow Jones finished the day up 0.50% to close at 47,740, while the S&P 500 gained 0.83% to close at 6,795, while the tech-heavy Nasdaq rose 1.38% to close at 22,695. Currency markets also experienced choppy conditions throughout the session. The US dollar…

IC Markets Global – Asia Fundamental Forecast | 10 March 2026

What happened in the U.S. session?

markets digested a steady 3.1% U.S. consumer inflation expectations print alongside an aggressive continuation of the conflict‑driven oil spike, which kept stagflation fears front and center. WTI and Brent pushed further toward and above the mid‑90s/near‑100 area, hammering U.S. equity futures, particularly tech, while supporting U.S. yields and the dollar and sustaining elevated gold prices on safe‑haven demand.

What does it mean for the Asia Session?

Escalating Middle East tensions, particularly the US-Iran conflict, have driven oil prices above $100 per barrel and sparked volatility in equities and safe-haven assets like gold. Regional…