• MON: Italian Judicial Referendum, Japanese CPI (Feb)
• TUE: BoJ Minutes (Jan), EZ/UK/US Flash PMIs (Mar)
• WED: Riksbank Minutes, ECB Wage Tracker, UK Inflation (Feb), German Ifo Survey (Mar), US Durable Goods (Feb)
• THU: Norges Bank Policy Announcement, German GfK Consumer Confidence (Apr)
• FRI: UK Retail Sales (Feb), Moody's on Italy

JAPANESE CPI (MON): National CPI for February is...

• The Trump Administration is reportedly considering plans to occupy or blockade Iran's Kharg Island to pressure Iran to reopen the Strait of Hormuz, Axios reported, citing sources.
• Crude edges higher amid the US plans to pressure Iran to reopen the Strait of Hormuz. 
• European equities give back earlier gains following the Axios report; SMCI nose-dives pre-market amid a probe.
• DXY trims some of Thursday's losses as crude futures...

• The US Pentagon is considering sending more troops to the Middle East, according to Politico sources who stated the size and scope of additional deployments are still evolving.
• Saudi officials see the base case for oil to rise to USD 180/bbl if the disruptions persist until late April, according to WSJ.
• APAC stocks were mostly subdued but with downside limited as the region reacted to the recent oil swings, deluge of central bank meetings and mixed geopolitical...

• Iran's armed forces said Iran's retaliation against attacks on its energy infrastructure is not yet complete, SNN reported; any repeat of such attacks will lead to a far stronger retaliation against the enemy, enemy infrastructure and that of their allies.
• US President Trump said Israel violently lashed out at Iran's major facility and that the US did not know about the attack, while he said there will be no more attacks by Israel on South Pars; added that the US will retaliate by...

• US President Trump said Israel violently lashed out at Iran's major facility and that the US did not know about the attack, while he said there will be no more attacks by Israel on South Pars.
• US President Trump said the US will retaliate by massively blowing up the entirety of the South Pars Gas Field if Qatar's LNG is attacked again.
• The Fed left rates on hold as expected in an 11-1 vote split, while dot plots were largely unchanged, with little reaction...

• Israel attempted to assassinate Iran's Intelligence Minister Khatib overnight, Jerusalem Post reported, citing an Israeli official, but is still awaiting the results of the target.  
• Iran's Foreign Minister said Iran will target US forces wherever they assemble, including near urban areas. Iran fired retaliatory missiles towards Tel Aviv for the killing of Larijani.
• European equities gain, Banks benefiting from a delay in capital requirements; US equity...

• US President Trump said they had a big day on Tuesday, knocking out targets, and said it will be a couple of weeks regarding Iran, not much longer, and that they are way ahead of schedule.
• Iran confirmed that its security chief Larijani was killed, according to Iranian media.
• Iran's Foreign Minister said Iran will target US forces wherever they assemble, including near urban areas, he understands neighbours' concerns and holds the US responsible for the...

• A senior Iranian official said the new Supreme Leader rejected proposals that were sent to Iran's Foreign Ministry by two intermediary countries, with the Leader stating it is not the right time for peace and that the US and Israel must be defeated.
• Israeli Defence Minister Katz said Iran's Top Security Chief Larijani was killed in the airstrike; Iran has not confirmed the status of Larijani.
• Crude gains in choppy trade as the Iranian war continues; metals move...

• US President Trump said Iran wants to make a deal and is talking with their people, but he does not know if Iran is ready yet.
• US Envoy Witkoff and Iranian Foreign Minister Araghchi have reportedly been in contact over text messages in recent days; Iran denied these reports.
• US President Trump said regarding the potential Strait of Hormuz coalition that Secretary of State Rubio will announce the countries, while he added it takes a while to get to the Hormuz and...

• US President Trump said he ordered a strike that wiped out every military target on Kharg Island, where Iran exports nearly all of its oil, but left the oil infrastructure intact; Crude holds around USD 100/bbl.
• US President Trump’s administration plans as soon as this week to announce a coalition to escort ships through the Strait of Hormuz, although they are still discussing if such operations would begin before or after hostilities have ended, WSJ reported.
• Trump...

• US President Trump said he ordered a strike that wiped out every military target on Kharg Island, which is where Iran exports nearly all of its oil from, but left the oil infrastructure intact. 
• US President Trump warned that NATO faces a very bad future if US allies fail to assist in opening up the Strait of Hormuz.
• Trump also said he was expecting China to help unblock the Strait of Hormuz before he travels to Beijing, while he stated that he may delay the...

• WEEKEND: US/China Meeting
• MON: Chinese Retail Sales (Jan-Feb), Canadian Inflation (Feb)
• TUE: RBA Policy Announcement, German ZEW Survey (Mar), Japanese Trade Balance (Feb)
• WED: BoC Policy Announcement, FOMC Policy Announcement and Press Conference, CBRT Minutes (Mar), US PPI (Feb), Japan Shunto Response
• THU: BoE Policy Announcement, BoJ Policy Announcement, ECB Policy Announcement, Riksbank Policy...

• US has issued a new Russia-related general license permitting the sale of Russian crude oil and petroleum products loaded on vessels as of March 12.
• ByteDance reportedly plans to tap NVIDIA (NVDA) Blackwell processors that are barred for export to China, with the Co. working with Aolani Cloud on plans to use some 500 Blackwell computing systems in Malaysia, according to WSJ.
• European equities soften, BESI NA surges on takeover rumours; US equity futures muted ahead...

• APAC stocks were mostly subdued, with the region cautious amid headwinds from the recent double-digit surge in oil prices.
• US officials noted they said from the start the war would last 4-5 weeks and may end in 2 weeks, with the decision up to Trump.
• US Treasury Secretary Bessent told Sky News an international coalition could protect ships in the Strait of Hormuz.
• USTR announced to initiate 60 Section 301 investigations related to failures...

• IEA OMR cut its 2026 global oil supply growth forecast by nearly half, stating the Middle East conflict as the largest oil supply disruption ever. 
• USTR Greer said the US is initiating a Section 301 investigation into 16 trading partners, including China, the EU, Mexico, Vietnam, India and Japan, which could lead to responsive actions, including tariffs.
• European equities hit as Iran conflict continues, while Defence names benefit; Oil prices continue to weigh...

• APAC stocks declined as rising oil prices dampened sentiment and stoked inflationary concerns, while the announcement of a record joint emergency reserves release failed to drag energy prices lower, due to likely slow deliveries and with further disruptions in the Middle East from the ongoing hostilities.
• US President Trump said they knocked out Iran's navy and mine layers, and stated that they won't leave Iran early.
• The FBI warned police departments in California...

• The IEA has proposed the largest ever release of oil from its strategic reserves, with Bloomberg reporting around 300-400mln barrels to be released. 
• Separate reporting stated that the volume in the first month of the release of oil reserves would exceed 100mln barrels. 
• Crude rises as geopolitics show no real signs of abating; copper falls as sentiment deteriorates.
• European equities entirely in the red, Rheinmetall...

• APAC stocks traded higher as the recent easing of oil prices helped the region shrug off the lacklustre lead from Wall Street and reports of Iran beginning to lay mines in the Strait of Hormuz.
• US intelligence began to see indications that Iran is taking steps to deploy mines in the Strait of Hormuz shipping lane, according to CBS.
• US Energy Secretary Wright posted that the US Navy had escorted an oil tanker through the Strait of Hormuz, although this post was later...

• US President Trump said it's going to be ended soon, and if it starts up again, Iran will be hit harder, while he responded 'no, but soon', when asked if the war will be done this week.
• On the passage of oil, US President Trump said they will hit Iran harder if it attempts to stop world oil supply, while adding the Strait of Hormuz will be safe and getting close to finishing it regarding 'excursion'.
• Oil steadies after Monday's selloff after Trump signalled the...

• US trade saw a late boost to sentiment after US President Trump said the war could be over soon and that he thinks the war is very complete, pretty much as Iran has no navy, no communications, and have no air force, while he added that the US is “very far” ahead of his initial 4-5 week estimated time frame."
• Iran's Revolutionary Guards said they will not allow a single litre of oil to be exported from the region if the US and Israeli attacks continue, while it added that they will determine...

• Energy surges (Brent +12%) as key oil producers cut output.
• European bourses entirely in the red as higher energy prices weigh on broader sentiment; US equity futures follow suit. 
• DXY bid on haven flows, EUR eyes the G7 ministers meeting on energy for reprieve.
• Global bond yields climb as energy benchmarks soar, sparking a hawkish move in central bank pricing.
• Precious metals weighed on by dollar...

• APAC stocks sold off heavily with global markets rattled after the Iran war entered a second week with no signs of abating; US equity futures extended on their post-NFP declines.
• Oil prices surged some 30% at one point to just shy of USD 120/bbl as the continued Iran conflict forces producers to begin cutting output.
• Crude futures pulled back following FT reports that the G7 is to discuss a joint release of emergency oil reserves in an emergency meeting on...

• MON: Eurogroup Meeting, Chinese Inflation (Feb), Japanese GDP Final (Q4),Japanese Average Cash Earnings (Jan)
• TUE: EIA STEO, Chinese Trade Balance (Jan-Feb), German Trade Balance (Jan)
• WED: OPEC MOMR, US CPI (Feb)
• THU: CBRT Policy Announcement, IEA OMR,US PPI (Feb)
• FRI: UK GDP (Jan), US PCE (Jan), US GDP 2nd Est (Q4), US JOLTS (Jan), Fitch on Italy & Spain, Moody's on Germany &...

• The Trump administration has reportedly ruled out deploying the Treasury Department to trade oil futures for now, believing it will have a limited meaningful effect, Bloomberg reported citing sources. 
• US-sanctioned gas tanker reportedly transited the Strait of Hormuz this morning, according to Bloomberg; The Danuta I, sailed under the flag of Palau.
• European equities are under modest pressure, Roche hit as weight loss drug disappoints; US equity futures...

• APAC stocks traded somewhat mixed following the risk-averse mood in the US as geopolitics continued to dominate headlines, and with participants also cautious heading into key US jobs data.
• US and Israel have increased airstrikes on Iran’s border with Iraq as US President Trump calls on the Kurdish minority there to rise up against Iran's government, according to the Washington Post.
• US Secretary of War Hegseth said the US has just begun to fight in Iran and that...