Market News

US Stocks Rally on Conflict Resolution Hopes – S&P up 1%
US equity markets rallied strongly overnight as improving sentiment surrounding the conflict in the Middle East helped lift investor confidence and encouraged a return to risk assets. All three major indices finished the session firmly higher. The Dow Jones rose 0.83% to close at 49,946, while the S&P 500 gained 1.01% to finish at 6,699. Technology stocks led the advance, with the Nasdaq climbing 1.22% to end the day at 22,374. Currency markets saw the DXY pull back from recent annual highs, falling 0.68% to 99.81. In fixed income markets, US Treasuries moved higher, with yields declining across the curve. The 2-year yield dropped 4.5 basis points to 3.671%, while the benchmark…

IC Markets Global – Europe Fundamental Forecast | 17 March 2026

What happened in the Asia session?

Today’s Asia session revolved around a “rates‑plus‑oil” narrative: markets priced in a likely RBA hike against a backdrop of elevated crude prices and recently stronger Chinese data, leaving AUD and Aussie rates as the prime movers, while Asian equities traded cautiously weaker and energy‑linked assets continued to outperform.

What does it mean for the Europe & US sessions?

Geopolitical tensions in the Strait of Hormuz, where closure has driven oil prices up around 40% since late February, alongside upcoming central bank decisions like the Fed’s March 18 meeting, expected to hold rates at 3.50–3.75% while updating its dot plot on 2026…

IC Markets Global – Europe Fundamental Forecast | 17 March 2026

What happened in the Asia session?

Today’s Asia session revolved around a “rates‑plus‑oil” narrative: markets priced in a likely RBA hike against a backdrop of elevated crude prices and recently stronger Chinese data, leaving AUD and Aussie rates as the prime movers, while Asian equities traded cautiously weaker and energy‑linked assets continued to outperform.

What does it mean for the Europe & US sessions?

Geopolitical tensions in the Strait of Hormuz, where closure has driven oil prices up around 40% since late February, alongside upcoming central bank decisions like the Fed’s March 18 meeting, expected to hold rates at 3.50–3.75% while updating its dot plot on 2026…

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.