March 18 FOMC: Fed Holds, But with a Hawkish Message.This is an analysis of the reaction of gold, USD pairs and US indices to the FOMC decision of 18 March 2026.

Iran war escalation wakes markets up to risks of deeper economic pain.Investors reassessing the potential economic fallout from the war in Iran ​are selling assets across the globe, from government bonds to stocks and gold, reigniting fears that markets ‌may become vulnerable to a bigger dislocation.

The Major Line in the Sand for WTI Crude Oil.For the past day there's been something else for traders to focus on away from the still-brewing conflict in the Middle East, and that's a slew of rate decisions with all of the Fed, BoJ, BoE and ECB announcing their most recent rates decisions. And while no actual adjustments were made, it was all about the innuendo and hints towards what might be down-the-road – and already we've seen fast adjustment in several markets.

GBP: BoE hawkish turn tempers Pound – TD Securities.GBP: BoE hawkish turn tempers Pound – TD Securities

A look around Markets in a scary post-FOMC morning – Market Outlook.The March FOMC created a vacuum in Markets, pulling down Equity Indexes, Cryptos, Metals and general sentiment. Explore reactions from this morning's Post-FOMC Market bloodshed.

Big central banks keep options open as traders suspect war will bring rate hikes.Nearly all major developed market central banks kept rates unchanged this week, but emphasised their readiness to act to curb inflation should the energy shock caused by the U.S.-Israeli war on Iran drive a broader surge in ​prices.

United States EIA Natural Gas Storage Change below forecasts (39B) in March 13: Actual (35B).United States EIA Natural Gas Storage Change below forecasts (39B) in March 13: Actual (35B)

Fed: Prolonged hold with inflation uncertainty – HSBC Private Bank.Fed: Prolonged hold with inflation uncertainty – HSBC Private Bank

Bank of England Review – On Hold in Rare Consensus Decision.The Bank of England (BoE) kept the Bank Rate unchanged at 3.75% as expected. The decision was unanimous, something we have not seen since 2022.

US wholesale inventories for January -0.5% versus 0.2% estimate..Prior month 0.2% wholesale inventories -0.5% versus 0.2% expected. Wholesale sales 0.5% versus 0.3% expected.

US new-home sales for January 0.587million versus 0.720 million estimate.U.S. new-home sales are a monthly economic report that measures the number of newly constructed single-family homes sold during the month, based on when a buyer signs a contract or makes a deposit—not when the sale closes. Released by the U.S. Census Bureau, the data is reported as a seasonally adjusted annual rate (SAAR), which estimates how many homes would be sold over a full year at the current pace.

Yen Rallies on BoJ Hawkish Signal as USD/JPY Rejected at 160 Intervention Red Line.Central bank marathon ends with rate decisions from SNB, BoE, and ECB now behind market. Yen emerged as the strongest performer, supported by a hawkish interpretation of BoJ Governor Ueda's post-meeting remarks.

GBP/JPY declines as BoE hawkish hold fails to offset Yen strength.GBP/JPY declines as BoE hawkish hold fails to offset Yen strength

BoE's Bailey says markets are getting ahead of themselves on rate rises.Financial markets are ‌getting ahead of themselves in expecting interest ​rate rises from ​the Bank of England, ⁠Governor Andrew Bailey said ​on Thursday, after ​rate hike expectations rose sharply following the central bank's ​decision to hold ​rates.

Natural Gas Price Analysis – Natural Gas Rises After Qatari Damage.There have been reports that there is even more damage to the Qatari natural gas infrastructure overnight, booting natural gas pricing in the US. With this, it is likely that there will be European demand for US gas.

VIEW ECB holds rates steady as Middle East war re-ignites inflation fears.The European Central Bank kept its key interest rate at 2% on Thursday and warned that the war in Iran was clouding the outlook for growth and inflation ​in the euro zone.

ECB raises inflation forecast, cuts growth as energy shock bites.ECB holds rates, revises inflation higher and growth lower, highlighting stagflation risks while resisting commitment to a tightening path. The Governing Council kept the deposit rate unchanged at 2.00%, as widely expected, but updated projections revealed a more challenging macro backdrop driven by rising energy prices.

USD: Energy shock and hawkish Fed support – BBH.USD: Energy shock and hawkish Fed support – BBH

Crude Oil Price Analysis – Oil Diverging on Thursday.While both grades of oil in this analysis are getting a bid, geography has a big part to play on price levels.

Bank of England leaves interest rates unchanged as war and rising energy prices complicate inflation fight.The Bank of England kept rates unchanged at 3.75% as war in the Middle East and rising energy prices cloud the inflation outlook and complicate the path for UK monetary policy.

BoE: Inflation fight focus raises hike risks – Deutsche Bank.BoE: Inflation fight focus raises hike risks – Deutsche Bank

US initial jobless claims fall to 205k vs exp 215k.US initial jobless claims fell -8k to 205k in the week ending March 14, below expectation of 215k. Four-week moving average of initial claims fell -750 to 211k.

USD/JPY: BoJ patience keeps June hike in focus – ING.USD/JPY: BoJ patience keeps June hike in focus – ING

US initial jobless claims 205K versus 215K estimate.Prior week 213K Initial jobs claims xxxK vs 215K estimate 4 week moving average of initial jobless claims. Continuing claims x.xxM vs 1.850M estimate.

Bank of England policymakers unanimously keep rates on hold in face of war risks.The Bank of England's nine interest rate-setters voted unanimously to keep borrowing costs on hold in the face of inflation risks from the war in the Middle East, and some raised the prospect of raising rates.

USD: Energy shock and Fed repricing support greenback – MUFG.USD: Energy shock and Fed repricing support greenback – MUFG

BoE unanimous rate hold surprises as doves abandon cut calls amid energy shock.Bank of England left Bank Rate unchanged at 3.75%, but the unanimous vote came as a clear surprise. Markets had expected a 6–3 or 7–2 split, with several known doves continuing to push for rate cuts.

United Kingdom BoE MPC Vote Rate Unchanged came in at 9, above expectations (7).United Kingdom BoE MPC Vote Rate Unchanged came in at 9, above expectations (7)

investingLive European markets wrap: Brent crude, European gas prices surge; SNB holds.Oil prices continue to move up, with Brent crude oil especially surging higher to rival the 9 March spike as the high hit above $119 today. This comes as European gas prices also shoot up further after Iran continues to hit back at key facilities across the region in retaliation to the attack on its South Pars gas field.

Oil News: Crude Oil Analysis Signals Breakout as Middle East War Escalates.Crude oil futures rise as Middle East attacks fuel supply fears. Bullish oil outlook builds with Brent near $120 and WTI approaching $100.