Dollar Restores Confidence by Force.The US dollar is proving to remain king among safe-haven assets. At the same time, growing demand for financing in the American currency is pushing the USD index higher.

Kraken's banking unit gains access to Fed's payments system.Cryptocurrency exchange Kraken's banking unit has ​gained access to the U.S. ‌Federal Reserve's payments system through a limited-purpose account, the Kansas ​City Fed said in ​a statement on Wednesday.

United States MBA Mortgage Applications increased to 11% in February 27 from previous 0.4%.United States MBA Mortgage Applications increased to 11% in February 27 from previous 0.4%

Sterling gets brief respite; energy prices in focus.The pound rose for the first time this week ​on Wednesday, as traders took advantage of a retreat in the dollar, although nerves remained on ‌edge amid uncertainty over the longer-term economic impact of the unfolding conflict in the Middle East.

USD: Haven demand supports near term gains – BBH.USD: Haven demand supports near term gains – BBH

EUR/JPY pressured by safe-haven flows into Yen amid Middle East war.EUR/JPY pressured by safe-haven flows into Yen amid Middle East war

US dollar surge since start of war on Iran unlikely to last, say FX strategists: Reuters poll.The U.S. dollar's bounceback since the start of the U.S.-Israel war with Iran may be short-lived due to lingering doubts about the safe-haven appeal of U.S. assets, according to FX strategists polled by Reuters who broadly still expect two Federal Reserve rate cuts later this year.

Oil surge drags Indian rupee to record low; importers scramble to hedge.The Indian rupee fell to ​its all-time low on Wednesday, as ​mounting concerns of a prolonged conflict along a major oil-and-gas ​corridor in the Middle East heightened the risk of a deeper energy shock and unsettled markets.

Crude Oil –04.03.2026.  Oil opened with a gap after U.S. and Israel's treacherous attack on Iran while the Iranian Revolutionary Guard announced the closing of Hormuz. Such disruptions could cause more spikes on Oil prices which could lead for a further advance.

USD/JPY –04.03.2026.  USDJPY hit the second target at 157.60. As we see over the chart, the market facing a grey zone at 158.00-159.45 which is considered as a resistance zone, which could maintain the risk for another drop wave towards 155.30-50 and 152.00-50.

USD/JPY to Quickly Return to Growth: Momentum Favours the US Dollar.USD/JPY paused briefly midweek after a series of solid gains, currently trading at 157.59. The Japanese currency remains under pressure from a strengthening US dollar amid concerns that a prolonged conflict in the Middle East could keep energy prices elevated and heighten inflation risks.

Eurozone PPI surges 0.7% mom in January as energy costs climb.Eurozone industrial producer prices rose sharply in January, signaling renewed upstream inflation pressures. According to data from Eurostat, PPI increased 0.7% mom, significantly above expectations of a 0.2% rise.

UK PMI composite finalized at 17-month high, cost pressures persist.The UK service sector continued to expand steadily in February, with final PMI Services reading coming in at 53.9, only slightly below January's 54.0. PMI Composite index was unchanged at 53.7, maintaining the 17-month high reached at the start of the year.

First Light News: Conflict, Oil and Sticky Prices.Frankly, price action has been bruising this week, and understandably so.

UK February final services PMI 53.9 vs 53.9 prelim."Business activity continued to pick up across the UK service economy in February, with growth holding close to the five-month high seen at the start of 2026. Survey respondents commented on rising new business intakes and improving sales pipelines.

Eurozone services PMI finalized at 51.9 as Germany leads growth.Eurozone business activity strengthened modestly in February, with services providing continued support to the region's fragile recovery. The final PMI Services reading came in at 51.9, up from January's 51.6.

Germany February final services PMI 53.5 vs 53.4 prelim.“This is pretty robust growth from the service sector in February. The prospects for continued expansion are good, as new business grew more strongly than in the previous month, supported by large orders and a noticeable increase in new work from abroad.

Germany HCOB Services PMI above forecasts (53.4) in February: Actual (53.5).Germany HCOB Services PMI above forecasts (53.4) in February: Actual (53.5)

Germany HCOB Composite PMI above expectations (53.1) in February: Actual (53.2).Germany HCOB Composite PMI above expectations (53.1) in February: Actual (53.2)

Italy February services PMI 52.3 vs 52.0 expected.“Overall, the latest PMI figures paint an encouraging picture. The manufacturing sector recorded a solid improvement, while the service sector continues to expand at a comfortable pace.

Natural Gas and Oil Forecast: Strait of Hormuz Risk – Is a $100 Oil Spike Imminent?.Strait of Hormuz tensions put 20% of global oil at risk as tanker traffic slows. Discover why WTI and Brent risk premiums are reshaping the 2026 energy forecast.

US Dollar (DXY) Tests Key Resistance on Middle East Energy Risks.Key Events • DXY retests 99.50 resistance, a defining barrier for a longer-term bullish bias • Supply disruption risks across the Middle East, including Qatar, Saudi Arabia, Iraq, and Iran, lift global energy prices, inflation concerns, and dollar pairs • EURUSD is trying to hold above 1.16, GBPUSD above 1.33. Is another drop on the way?

South Korean retail investors panic as world-beating stock gains vanish.As South Korea's benchmark ​KOSPI stock index dived more than 12% to its worst-ever sell-off on Wednesday, a district known as the ‌Korean Silicon Valley was eerily quiet when it would normally be bustling for the lunchtime rush.

Swiss CPI rises 0.6% mom in February, annual inflation holds at 0.1%.Switzerland's consumer prices rose more than expected in February, offering a modest sign of price pressure despite still subdued annual inflation. Data from the Federal Statistical Office showed CPI increased 0.6% mom, slightly above the expected 0.5% gain.

Asian Markets Suffering with Major Net Oil Importers Feeling the Heat.European stock markets bit the dust yesterday, underperforming strongly vs US peers. The EuroStoxx50 tumbled 3.6% with some national indices doing even worse.

Oil: Prices surge on Middle East shock – Deutsche Bank.Oil: Prices surge on Middle East shock – Deutsche Bank

Catalysts Ahead: Oil Inventories, Treasury Auctions, Options Expiry Could Stir Volatility.The global market landscape remains fraught with volatility as Wall Street braces for more trouble up ahead, driven by deteriorating technicals and a failed recent bounce that left the S&P 500 struggling below key moving averages. This nervous sentiment in the US is mirrored by a brutal wave of heavy selling in Asia, where Korean stocks melted down after the Kospi plummeted by as much as 11% intraday and triggered a circuit breaker.

DXY: Caution near 100 as rally looks stretched – DBS.DXY: Caution near 100 as rally looks stretched – DBS

Mideast war oil shock drives up currency hedging cost for Indian importers.The surge in oil prices from the intensifying Middle East war is making it costlier for Indian importers to hedge currency exposure, with ​higher rupee volatility and rising forward premiums pointing to heightened caution ‌over the currency's near-term outlook.

Russia S&P Global Services PMI fell from previous 53.1 to 51.3 in February.Russia S&P Global Services PMI fell from previous 53.1 to 51.3 in February