Italy Producer Price Index (MoM) rose from previous -0.7% to 1.5% in January

Italy Producer Price Index (YoY) dipped from previous -1.4% to -1.6% in January

Commerzbank analysts describe a dramatic surge in Brent oil toward USD120 before prices eased after President Trump signalled the Iran war could be resolved soon.

ING’s Carsten Brzeski notes that German exports and imports fell sharply in January, undermining earlier optimism about Germany’s 2026 growth outlook.

Commerzbank’s Christoph Rieger notes that markets have sharply repriced ECB expectations after the recent oil-driven sell-off, now discounting a more aggressive, zero-tolerance stance on inflation and higher year-end rates.

Austria Industrial Production (YoY) climbed from previous -3.3% to 0.3% in January

France Exports, EUR: €53.4B (January) vs €53.1B

France Current Account increased to €2.1B in January from previous €-0.6B

France Imports, EUR fell from previous €57.9B to €55.3B in January

France Trade Balance EUR above forecasts (€-4.6B) in January: Actual (€-1.8B)

Deutsche Bank’s Jim Reid and his team describe an extreme reversal in Brent Oil, with prices falling from an intraday high near $120 to around $90.

ING's Senior Economist Min Joo Kang argues that stronger Japan GDP data and resilient private spending support continued Bank of Japan (BoJ) policy normalisation, with a rate hike more likely in June than April.

DBS Group Research’s Radhika Rao explains that the US and India have agreed a trade deal cutting reciprocal tariffs to 18%, with the final rate contingent on India continuing to reduce Oil imports from Russia.

Sweden Industrial Production Value (MoM) dipped from previous 5.1% to -5.7% in January

Sweden Industrial Production Value (YoY) fell from previous 4.2% to 1.9% in January

Bank of Japan (BoJ) Executive Director Koji Nakamura said on Tuesday that it’s appropriate to conduct a bond taper in a predictable manner. Nakamura further stated that he will listen to views of various market players in compiling a new bond taper plan at the June policy meeting.

Germany Trade Balance s.a. came in at €21.2B, above expectations (€15.2B) in January

Germany Exports (MoM) came in at -2.3%, below expectations (-2%) in January

Sweden New Orders Manufacturing (YoY) declined to -3.9% in January from previous 6.8%

Germany Imports (MoM): -5.9% (January) vs previous 1.4%

MUFG’s Senior Currency Analyst Michael Wan highlights extreme volatility in Brent as prices spiked from US$90/bbl to US$120/bbl before retracing, driven by comments from President Trump that the Iran war could be ending soon.

The President and CEO of Saudi Aramco, Amin H. Nasser, said on Tuesday that he is concerned about the elevated risks that people are facing in the region. He added that the company are doing its best to meet the majority of our customers' requirements under the current circumstances.

BNY’s Americas Macro Strategist John Velis argues that the Middle East conflict hits the U.S. economy via higher Oil prices, weaker portfolios and greater uncertainty, creating a negative supply shock.

Volkmar Baur highlights exceptionally strong Chinese export data, with February exports up nearly 40% year-on-year and the combined January–February surplus reaching about 6.2% of GDP.

Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser said on Tuesday that volatility in oil prices and the Middle East is a genuine challenge for central banks.  Hauser further stated that the response depends on the size and persistence of the price shock, which is very uncertain.

Standard Chartered economists argue that Europe faces a renewed energy price shock from the Middle East conflict, with Oil and natural gas prices sharply higher.

Netherlands, The Consumer Price Index n.s.a (YoY) in line with forecasts (2.4%) in February

Netherlands, The Manufacturing Output (MoM) declined to 0.4% in January from previous 0.5%

Netherlands, The Consumer Spending Volume fell from previous 0.8% to 0% in January

China Trade Balance CNY came in at 1.5B, below expectations (950B) in February