DBS Group Research’s Philip Wee argues that stagflation will dominate the agenda at the International Monetary Fund (IMF) and World Bank Spring Meetings following President Trump’s Strait of Hormuz blockade.

Turkey Current Account Balance registered at $7.501B above expectations ($-7.5B) in February

Turkey Current Account Balance came in at $-7.501B, below expectations ($-7.5B) in February

Bank of Japan (BoJ) Governor Kazuo Ueda said in his prepared remarks in a speech during the European trading session on Monday that the economic recovery is modest in the wake of the war in the Middle East.

MUFG’s Senior Currency Analyst Michael Wan notes that Trump’s announcement of a blockade of the Strait of Hormuz, following failed US–Iran talks, pushed Brent Oil up 9% to US$103 per barrel.

Danske Research Team expects equity markets to open more than 1% lower, tracking Asian losses after US‑Iran talks failed and Brent crude gapped higher.

Most Asian equity indexes are trading lower on Monday, as this weekend’s peace talks between the US and Iran ended without agreement, and US President Donald Trump affirmed that the US military will enforce a blockade in the Strait of Hormuz.

EUR/CAD holds position after paring its intraday losses, trading around 1.6200 during the Asian hours on Monday. However, the currency cross still remains in the negative territory as the Euro (EUR) struggles amid increased risk aversion after the failure of the United States (US)-Iran peace talks.

United States (US) President Donald Trump confirms, through a post on Truth.Social, the blockade on ships entering to and exiting from Iranian ports will officially begin today, April 13, at 10:00 AM ET (14:00 GMT).

In a parliamentary election in Hungary on Sunday, Péter Magyar, leader of the nation’s center-right opposition Tisza party, defeated veteran incumbent Prime Minister Viktor Orbán in a landslide victory.

Japan Money Supply M2+CD (YoY) increased to 2% in March from previous 1.7%

Citing officials and people familiar with the situation, the Wall Street Journal (WSJ) reported on Monday that White House advisers are considering resuming limited military strikes in Iran along with the US blockade of the Strait of Hormuz as a way to break a deadlock in peace talks.

Iran's Foreign Minister Seyed Abbas Araghchi said early Monday that “Iran engaged with the US in good faith to end the war.”

New Zealand Business NZ PSI declined to 46 in March from previous 48

Here’s all you need to know about the developments in the Middle East war that took place over the weekend, which are expected to have a significant impact on the markets in the upcoming week.

TradingKey - Recent reports indicate that the White House's confidence in Kevin Warsh taking over as Federal Reserve Chair in May has significantly strengthened.White House economic advisor Kevin Hass

ING’s Chief Economist for Greater China, Lynn Song, notes that China’s CPI inflation eased to 1.0% year-on-year after Lunar New Year, while PPI turned positive for the first time since 2022.

DBS Group Research expects Malaysia’s 1Q26 advance Gross Domestic Product (GDP) to grow 5.5% year-on-year, slightly below 6.3% in 4Q25 but still robust. Growth is seen supported by export-oriented electrical and electronics manufacturing, global AI tailwinds, construction and domestic demand.

TD Securities expects China’s March exports to normalize after a strong Jan–Feb report, while imports could surprise on the upside as authorities stockpile key goods and commodities during the US–Iran conflict. Rising input costs may slow production and weigh on exports.

ING’s Min Joo Kang notes that KRW is trading below 1,500, with near-term moves heavily dependent on Middle East developments. The team keeps its 1,450–1,550 trading range, expecting KRW to strengthen rapidly if the war ends.

DBS Group Research expects Singapore’s non-oil domestic exports to rise for a seventh consecutive month in March 2026, accelerating to 10.3% year-on-year from 4.0% in February.

Mary Daly, President of the Federal Reserve (Fed) Bank of San Francisco, told Reuters in an interview on Friday that if Iran conflict is resolved quickly and Oil prices come back down, a rate cut may not be out of the question.

Commerzbank’s Dr. Henry Hao sees upside risks to China’s Q1 2026 GDP versus the bank’s 4.6% forecast, supported by resilient exports and front‑loaded public investment. Industrial production is projected to grow 5.5% year‑on‑year, while retail sales slow to 2.5%.

United Kingdom CFTC GBP NC Net Positions: £-56.4K vs previous £-52.7K

United States CFTC Oil NC Net Positions down to 202.2K from previous 213.5K

United States CFTC Gold NC Net Positions: $156.3K vs previous $163.2K

Australia CFTC AUD NC Net Positions dipped from previous $81.5K to $70.8K

Eurozone CFTC EUR NC Net Positions: €-7.5K vs previous €0.5K

United States CFTC S&P 500 NC Net Positions declined to $-45.7K from previous $-42.5K

Japan CFTC JPY NC Net Positions dipped from previous ¥-72.9K to ¥-93.7K