U.S.-Iran Tensions Escalate as Strait of Hormuz Crisis Disrupts Global Oil Markets 
Bank of America Maintains Forecast for Two Fed Rate Cuts in 2026 Despite Inflation Risks 
RBI Clamps Down on Rupee NDF Activity, Banks Face Steeper Losses 
Asian Markets Mixed as Oil Prices Rise Amid Middle East Tensions and Ceasefire Uncertainty 
U.S.-Iran Conflict Stalls as Diplomatic Efforts Collapse and Global Oil Tensions Rise 
ECB Warns of Rising Inflation Risks Amid Iran War Energy Shock 
European Car Sales Surge in March as EV and Hybrid Demand Accelerates 
Oil Prices Surge Amid Escalating U.S.-Iran Conflict and Strait of Hormuz Tensions 
Bank of Japan Eyes Further Rate Hikes Amid Middle East Tensions and Inflation Pressures 
Lots of economic dockets and events scheduled for today and some with high volatility risks associated.
Data released so far:
- United Kingdom: BRC shop prices in November declined by 1.7 percent y/y.
- Australia: Third quarter GDP is down 0.5 percent, up 1.8 percent from a year ago.
Upcoming:
- China: Forex reserve data might get released today.
- Japan: Leading economic index and coincident index will be published at 5:00 GMT.
- Germany: Industrial production figure for October will be published at 7:00 GMT.
- France: trade balance figures for October will be released at 7:45 GMT.
- United Kingdom: Halifax house prices report for November will be published at 8:30 GMT, followed by manufacturing and industrial production numbers for October at 9:30 GMT. NIESR will release GDP estimate at 15:00 GMT.
- Switzerland: Forex reserve details will be published at 8:00 GMT.
- United States: MBA mortgage applications data will be published at 12:00 GMT, followed by JOLTS job reports at 15:00 GMT, and Consumer credit at 20:00 GMT.
- Canada: BoC will announce interest rate decision at 15:00 GMT.
- Japan: Third quarter GDP data will be announced at 23:50 GMT.
- Auctions: UK and Germany will auction 30-year bonds today. Spain will auction 56-month and 12-month bonds.
