Asian Currencies Stabilize as Dollar Holds Near Two-Month High After Fed Hawkish Signal 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
Gold Prices Rebound on U.S.-Iran Peace Deal Optimism Despite Fed Rate Hike Signals 
Dollar Surges After Fed Holds Rates Steady, Signals Potential Tightening Ahead 
Europe EV Demand Surges as Fuel Prices Rise Amid Iran Conflict 
ASX Proposes New Share Dilution Limits for Public Takeovers 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Australia Eases Capital Gains Tax Reforms to Support Small Businesses and Startups 
Asian Stocks Rally as Japan and South Korea Reach Record Highs on US-Iran Peace Deal 
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks 
US Stock Futures Jump on Reports of Preliminary US-Iran Peace Deal Despite Fed’s Hawkish Outlook 
Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
Japan Signals Readiness to Intervene as USD/JPY Nears 161 Amid Yen Weakness 
Trump and Iran Sign Framework Peace Deal in France Amid Ongoing Middle East Tensions 
Oil prices were mostly steady during Asian trading on Friday, yet both benchmark crude contracts remained on track for weekly losses after a sharp selloff in the previous session. Brent crude futures for April delivery edged up 0.1% to $67.56 per barrel, while West Texas Intermediate (WTI) crude rose 0.1% to $62.87 per barrel. Despite the modest rebound, both benchmarks fell nearly 3% in the prior session, positioning them for around a 1% decline for the week.
Market sentiment has been pressured by growing concerns about a potential global oil supply glut. The International Energy Agency (IEA), in its latest monthly oil market report, projected a surplus of more than 3.7 million barrels per day in 2026. The agency also noted that global oil inventories increased significantly last year, marking one of the fastest stockpile builds since the pandemic. Rising inventories and resilient non-OPEC production have intensified fears of prolonged oversupply in the global energy market.
Adding to bearish sentiment, the U.S. Energy Information Administration (EIA) reported an 8.53 million barrel jump in crude inventories this week, far exceeding market expectations and representing the largest build since January 2025. The sharp increase signals softer refinery demand and abundant supply in the United States, the world’s largest oil consumer.
Meanwhile, geopolitical developments remain in focus. Comments from former U.S. President Donald Trump suggesting that negotiations over a potential U.S.-Iran nuclear deal could extend for up to a month reduced immediate concerns about supply disruptions from the Middle East. This tempered the geopolitical risk premium that had previously supported crude oil prices.
Investors are also awaiting key U.S. consumer price index (CPI) data, which could influence Federal Reserve interest rate decisions. Strong January jobs data has already dampened expectations for near-term rate cuts, adding another layer of uncertainty to the oil market outlook.
