Powell Kept an Agnostic View on the (Persistence, Duration of) Current Developments..Yesterday saw a new escalation in attacks on oil infrastructure in the Middle East with a sharp rise in energy prices that dominated global markets. Iran attacked Qatar's Ras Laffan gas infrastructure after Israël attacked Iran's main South Pars gas field.

ECB: Higher energy complicates inflation outlook – Deutsche Bank.ECB: Higher energy complicates inflation outlook – Deutsche Bank

UK wage growth cools as labor market softens despite stable unemployment.UK labor market data showed further signs of cooling in February, with wage growth easing and employment momentum weakening. Payrolled employees rose modestly by 20k on the month to 30.3 million, but were still down -49k compared to a year earlier, highlighting a gradual loss of underlying strength.

USD/JPY Price Forecast: Retreats below mid-159.00s; bullish potential seems intact.USD/JPY Price Forecast: Retreats below mid-159.00s; bullish potential seems intact

USD: Conflict-driven support and rate advantage – TD Securities.USD: Conflict-driven support and rate advantage – TD Securities

No One Knows.The relief in Oil markets on news that Iraq would resume exports via Turkey didn't last long. News that another important Iranian official has been killed and Iranian energy facilities attacked turned the market upside down, as Iran threatened the Gulf countries with fierce retaliation, highlighting that their energy facilities have now become ‘a legitimate target'.

NOK: Energy support faces flow headwinds – BNY.NOK: Energy support faces flow headwinds – BNY

How Will ECB Respond to Sharp Rise in Energy Prices?.Today, we expect the ECB to leave the deposit rate unchanged at 2.00% in line with consensus and market pricing. We expect Lagarde to communicate a full commitment to price stability and readiness to act to upward price pressures but at the same time acknowledge heightened uncertainty and that it is too early to draw firm conclusions.

UK wage growth slows to 3.8% in 3 months to January.British annual wage growth, excluding bonuses, stood at 3.8% in the ​three months to January, the ‌Office for National Statistics said on Thursday.

Natural Gas and Oil Forecast: WTI Near $98 – Middle East Tensions Eye $150 Oil Spike?.Middle East tensions push oil toward $150 as supply risks flare. WTI holds near $98 while Brent targets $119.

Risk Aversion Deepens as Fed Highlights Inflation Risks, Downplays Growth Impact.Risk aversion deepened across global markets as the combination of escalating energy conflict and a more inflation-focused Federal Reserve weighed on sentiment. While the initial selloff in US equities overnight was triggered by a sharp spike in oil prices, the late-session decline pointed to a second driver—markets reacting to the Fed's message that inflation risks heightened due to geopolitical uncertainty.

EU pitched for Turkey to join its payments system, envoy says .The European Union pitched ​to Turkey last month the idea that the candidate for bloc membership could join ‌a cost-cutting payments system to boost integration efforts and benefit those sending money abroad, the EU envoy to Ankara told Reuters.

USD: Supported as Fed weighs energy shock – MUFG.USD: Supported as Fed weighs energy shock – MUFG

Australian Dollar Forecast: Will the 4.3% Unemployment Surge Break the Aussie's 0.7000 Floor?.AUD/USD faces a critical breakout at 0.7037 on March 19, 2026, as a “jobs paradox” and a resurgent US Dollar test the 0.7000 floor. Discover if the 4.3% unemployment spike will force a liquidation toward 0.6945.

JPY: BoJ holds but keeps hike option – Commerzbank.JPY: BoJ holds but keeps hike option – Commerzbank

WTI slides to near $96 as US Dollar strengthens, eyes on Middle East tensions.WTI slides to near $96 as US Dollar strengthens, eyes on Middle East tensions

SNB, BoE, ECB Set to Hold as BoE Votes and ECB Guidance Drive Volatility.Three major central bank decisions are due, with Swiss National Bank, Bank of England, and European Central Bank all widely expected to leave policy unchanged. Markets are therefore less focused on the decisions themselves and more on the signals embedded in communication, particularly around inflation risks and policy direction amid the ongoing energy shock.

Morning Bid: Central bankers sound inflation alarm.A look at the day ahead in European and global markets from Ankur Banerjee

Netherlands, The Unemployment Rate s.a (3M) increased to 4.1% in February from previous 4%.Netherlands, The Unemployment Rate s.a (3M) increased to 4.1% in February from previous 4%

US explores use of govt insurance in escorting ships through Strait of Hormuz - report.The FT reports on the matter, noting that US president Trump has given his word that the US would insure commercial vessels seeking passage through the Strait of Hormuz. And the US administration has looked into how to go about that by exploring plans to tie it with government insurance.

GBP/JPY surrenders modest gains, trades below 212.00 ahead of BoJ presser/BoE decision.GBP/JPY surrenders modest gains, trades below 212.00 ahead of BoJ presser/BoE decision

Oil Prices Surge After Middle East Strikes: Is Crude Heading Toward $150 Next?.Oil prices surge as Middle East tensions and attacks on key energy infrastructure raise supply concerns, while strong technical breakouts and geopolitical risks keep the market biased toward further upside.

US Dollar Index remains subdued near 100.00 despite hawkish Fed outlook.US Dollar Index remains subdued near 100.00 despite hawkish Fed outlook

Investors face cloudier Fed rate view as Iran war grips markets.Investors are facing a cloudier view of U.S. monetary policy in the coming months, with a war in the Middle East muddying the outlook for a Federal Reserve that already was grappling ​with above-target inflation and an uneven labor market.

Japan Capacity Utilization: 2.9% (January) vs 1.3%.Japan Capacity Utilization: 2.9% (January) vs 1.3%

BoJ holds rates, signals further hikes despite temporary inflation dip.Bank of Japan left its policy rate unchanged at around 0.75% as widely expected, and maintained a clear tightening bias, signaling that further rate hikes remain on the table. The decision was passed by an 8–1 vote, with Hajime Takata dissenting in favor of an immediate hike to 1%.

Mixed Australia employment data: Hiring strong, but job quality slips.Australia's labor market delivered a strong headline in February, with employment rising by 48.9k, well above expectations of 20k. However, the details painted a softer picture, as the unemployment rate jumped from 4.1% to 4.3%, exceeding forecasts.

Pound Sterling inches higher ahead of BoE rate decision.Pound Sterling inches higher ahead of BoE rate decision

NZ GDP disappoints at 0.2% as momentum fades into year-end.New Zealand's economy expanded by just 0.2% qoq in Q4, missing expectations of 0.4% qoq and slowing sharply from Q3's 0.9% qoq pace. On an annual basis, GDP rose 0.2% yoy, marking the first year-on-year expansion since the year ended September 2024, but the weak quarterly print highlights fading momentum into the end of the year.

EUR/JPY holds above 183.00 as BoJ keeps rates steady.EUR/JPY holds above 183.00 as BoJ keeps rates steady