Commerzbank analysts Carsten Fritsch and Barbara Lambrecht highlight that the Iran war and Strait of Hormuz closure have sharply lifted Brent and refined product prices, especially diesel and jet fuel.
The number of job openings in the United States (US) declined to 6.882 million in February from 7.24 million in January, the US Bureau of Labor Statistics (BLS) reported in its Job Openings and Labor Turnover (JOLTS) report on Tuesday.
ING’s commodities team highlights that Aluminium prices rallied toward $3,500/t on the LME as Middle East supply risks escalated. Damage at Emirates Global Aluminium and potential disruption at Aluminium Bahrain threaten around 3.2Mt of annual capacity.
United States JOLTS Job Openings below forecasts (6.92M) in February: Actual (6.882M)
TD Securities analysts highlight growing official frustration with Japanese Yen weakness as USD/JPY breached the 160 level in the past week.
United States Chicago PMI registered at 52.8, below expectations (55) in March
Societe Generale’s Dev Ashish projects Mexico’s 2026 growth to remain below potential, constrained by weak manufacturing, investment and USMCA‑related uncertainty. Higher Oil prices are expected to pass through, lifting inflation risks and expectations.
EUR/GBP trades in a choppy range on Tuesday, as traders digest the latest economic data from both the United Kingdom and the Eurozone. At the time of writing, the cross is trading around 0.8691, rebounding after marking an intraday low of 0.8676.
Commerzbank analyst Carsten Fritsch notes Gold has dropped over 13% this month, its steepest fall since 2008, as surging Oil prices forced markets to price out Fed rate cuts. Recently, both Gold and Oil have risen together.
Tensions between the United States (US) and Iran remain in focus after a series of comments from US Defense Secretary Pete Hegseth reported by Reuters, who said the coming days could be decisive in the conflict.
ING’s Bert Colijn notes that Eurozone inflation has jumped from 1.9% to 2.5%, driven entirely by higher energy prices, while core and food inflation continue to ease.
United States S&P/Case-Shiller Home Price Indices (YoY) came in at 1.2%, below expectations (1.3%) in January
