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IC Markets Global – Asia Fundamental Forecast | 17 March 2026

What happened in the U.S. session?

Persistent U.S.-Iran war tensions driving oil prices to ~$100/barrel (up sharply YTD), with NY Empire State Manufacturing contracting to -0.2 (vs. +3.9 exp.) highlighting regional weakness, though Industrial Production edged up 0.2%; this fueled USD strength, mixed equity futures favoring energy plays, and Fed hawkishness ahead of March 17-18 meeting most impacted were crude oil futures, DXY, and oil-sensitive equities.

What does it mean for the Asia Session?

Asian traders must monitor surging oil prices over $100 due to the protracted U.S.-Iran war and Strait of Hormuz issues, which are fueling inflation fears and weighing on equities…

IC Markets Global – Asia Fundamental Forecast | 17 March 2026

What happened in the U.S. session?

Persistent U.S.-Iran war tensions driving oil prices to ~$100/barrel (up sharply YTD), with NY Empire State Manufacturing contracting to -0.2 (vs. +3.9 exp.) highlighting regional weakness, though Industrial Production edged up 0.2%; this fueled USD strength, mixed equity futures favoring energy plays, and Fed hawkishness ahead of March 17-18 meeting most impacted were crude oil futures, DXY, and oil-sensitive equities.

What does it mean for the Asia Session?

Asian traders must monitor surging oil prices over $100 due to the protracted U.S.-Iran war and Strait of Hormuz issues, which are fueling inflation fears and weighing on equities…

• Prior -0.2%

The breakdown shows that producer prices in Switzerland fell by 0.5% on the month in February with import prices increasing slightly by 0.2%. At the balance, this still points to a 0.3% monthly drop. On an annual basis, producer and import prices are seen down 2.7% relative to the same month a year ago.

Looking at the breakdown, the main drag in producer prices last month were for pharmaceutical products and for chemical products. That is slightly offset by a bit of an increase in prices for petroleum products and electricity. Of note, the core inflation reading for this index is seen down 0.5% on the month and down 1.8% year-on-year.

As for import prices, the increase was a result of price jumps in petroleum products as well as…

•  Asian Stock Markets : Nikkei up 0.40%, Shanghai Composite down 0.04% Hang Seng up 0.91% ASX up 0.30%
• Commodities : Gold at $5,033.80 (0.63%) Silver at $81.470 (0.98%), Brent Oil at $103.11 (2.90%), WTI Oil at $95.31 (3.08%)
• Rates : US 10-year yield at 4.235, UK 10-year yield at 4.7700, Germany 10-year yield at 2.9488

• (CAD) CPI m/m 0.5%  to 0.7%  expected
• (CAD) Trimmed CPI y/y 2.3%  to 2.4%  expected
• (CAD) Median CPI y/y 2.3%  to 2.4%  expected

Asia-Pacific markets moved higher on Tuesday, driven by strong gains in technology and automotive stocks following optimistic signals from Nvidia. The chipmaker projected robust demand for its next-generation…

• Reserve Bank of Australia raise its cash rate by 25bps, as widely expected
• BOJ’s Ueda says inflation rising toward 2% ahead of policy meeting - recap
• Tanker struck near Strait of Hormuz as UK maritime agency warns ships
• Australian confidence hits pandemic low as inflation expectations surge before RBA hike
• Fed faces new inflation shock as Middle East war cuts rate-cut odds this year to 47%
• Japan officials signal vigilance on yields, fiscal policy and FX as yen weakness persists
• PBOC sets USD/ CNY central rate at 6.8961 (vs. estimate at 6.8874)
• Morgan Stanley sees Fed cuts starting June, warns oil at $125–$150 raises recession risk
• BOJ’s Ueda says inflation rising toward 2% target ahead of March 18 &19 meeting
• Singapore February exports rise 4.0%…

Singapore’s February exports rose 4.0% y/y, missing expectations as electronics gains were partly offset by weaker non-electronics shipments.

Summary:

• Singapore’s non-oil domestic exports (NODX) rose 4.0% year-on-year in February, below expectations for a 5.5% increase in a Reuters poll.

• Export growth was driven by electronics shipments, particularly integrated circuits and disk media products.

• Non-electronics exports declined, limiting the overall expansion in shipments.

• Exports to South Korea, Taiwan and Hong Kong increased, while shipments to Indonesia and the United States fell.

• The data comes as U.S. authorities launch trade investigations into several partners, including Singapore, citing persistent trade surpluses.

• Singapore’s Trade…

New Zealand food prices -0.1 percent in February

• prior +2.5%

For the y/y, +4.5%

Data from Statistics New Zealand.

Food prices make up nearly 19 percent of the consumer price index.

New Zealand food prices -0.1 percent in February

• prior +2.5%

For the y/y, +4.5%

Data from Statistics New Zealand.

Food prices make up nearly 19 percent of the consumer price index.

Trump on his visit to China to see Xi:

"I'd love to go, but I have to be here because of the war."

"We asked to delay it a month."

Trump on his visit to China to see Xi:

"I'd love to go, but I have to be here because of the war."

"We asked to delay it a month."

• US and Iran have been in direct contact in recent days - report
• NVDA stock chops: Huang sees "at least $1 trillion" in revenue visibility through 2027
• Oil settles near the lows of the day, falling $5
• One of the greatest oil traders of all-time thinks the Treasury got involved in the market
• Trump: Not happy with the UK.
• European indices off to a positive start for the week
• Trump: Continued in full force over the past few days
• What are the TACO trades?
• US March NAHB housing market index 38 vs 37 expected
• US February industrial production vs +0.2% expected
• March Empire Fed manufacturing survey index -0.20 versus 3.90 estimate
• Canada February CPI +1.8% vs +1.9% expected
• investingLive European markets wrap: Oil off early highs, risk mood picks up for now
• <a…