United States (US) President Donald Trump said that the war with Iran will end soon because there is practically nothing left to target in a brief phone call with Axion on Wednesday.

MUFG’s Head of Research Derek Halpenny highlighted the US Dollar has strengthened less than regression models implied given the initial 50% surge in crude, with EUR/USD down only 1.7% after Oil retraced.

Commerzbank’s Senior Economist Dr. Christoph Balz notes that US CPI data for February show moderate inflation, but stresses that the Federal Reserve is more focused on the PCE deflator and the impact of higher energy prices following the war with Iran.

BNY’s Head of Markets Macro Strategy Bob Savage reports a synchronized selloff in EM sovereign debt as risk aversion rises with the Iran conflict. EM fixed income is seeing widespread net selling, while U.S. Treasuries, Bunds and other high-quality G10 assets benefit.

ING economists Bert Colijn and Marcel Klok note that recent data show the Dutch economy entering 2026 with solid momentum, supported by stronger-than-expected GDP figures and resilient labour markets.

United States Consumer Price Index Core s.a up to 333.51 in February from previous 332.79

United States Consumer Price Index ex Food & Energy (MoM) meets expectations (0.2%) in February

United States Consumer Price Index ex Food & Energy (YoY) in line with forecasts (2.5%) in February

United States Consumer Price Index n.s.a (MoM) in line with forecasts (326.79) in February

United States Consumer Price Index (MoM) in line with forecasts (0.3%) in February

United States Consumer Price Index (YoY) meets forecasts (2.4%) in February

ABN AMRO economists assess how Iran-driven energy shocks could alter Federal Reserve policy and thus the US Dollar.

Nomura’s Global Markets Research team revises its Euro area HICP projections higher on updated Oil and gas assumptions. The bank now sees HICP at 2.7% in 2026 and 2.2% in 2027, with inflation above target in early 2026.

India M3 Money Supply climbed from previous 10.9% to 11.5% in February 16

TD Securities’ Global Strategy Team highlights that recent geopolitical tensions and a weaker 3-year auction pushed US rates higher, with attention now turning to February CPI.

ING’s Francesco Pesole notes the Dollar remains closely tied to Oil volatility, with recent Brent swings driven by conflicting headlines on Middle East tensions and a potential record IEA reserve release.

Brown Brothers Harriman’s (BBH) Elias Haddad notes that US February CPI is due, with headline and core expected to remain at 2.4% and 2.5% year-on-year, while super core services stays stuck at 2.7%.

United States MBA Mortgage Applications: 3.2% (March 6) vs previous 11%

MUFG’s Head of Research Derek Halpenny highlights that the Pound is currently the third best performing G10 currency since the conflict began, supported by a sharp 35 bps jump in UK 2-year yields and reduced BoE rate-cut pricing.

Nomura’s Senior European Economist Andrzej Szczepaniak notes that traders have increased pricing for European Central Bank rate hikes after hawkish comments from ECB members Kazimir, Kazaks.

TradingKey - At 8:30 a.m. ET on Wednesday, the U.S. Bureau of Labor Statistics will release the February Consumer Price Index (CPI) report, which traders view as the tone-setter for investment directi

UBS Chief Economist Paul Donovan notes that US February CPI data predates recent market volatility but remains important for Federal Reserve policy. He expects underlying inflation pressures to be benign and argues central banks should only react to broad price increases.

MUFG’s Head of Research Derek Halpenny notes that the proposed IEA-coordinated Oil reserve release could temporarily offset supply disruption in the Strait of Hormuz, but markets are shifting focus to US inflation.

Antje Praefcke at Commerzbank notes that Norwegian inflation fell in February but remains too strong for an imminent policy shift.

Spain Retail Sales (YoY) climbed from previous 2.9% to 4% in January

Danske Research Team observes that EUR/USD is little changed below 1.1650, with 2‑year Bund and US Treasury yields slightly lower.

European Central Bank (ECB) Governing Council member and Germany's Bundesbank chief Joachim Nagel told Reuters on Wednesday that the central bank will be ready to act if surging energy costs due to the Iran war feed into durably higher Eurozone inflation.

Commerzbank’s Antje Praefcke argues that US inflation data are unlikely to move the Dollar near term, as markets focus on Oil and the Iran war.

European Central Bank (ECB) policymaker Peter Kazimir comments on the central bank’s path forward on interest rates in light of the conflict in the Middle East.

DBS Group Research economist Eugene Leow highlights that consensus expects US CPI at 2.4% year-on-year and 0.3% month-on-month for February, with investors highly sensitive to upside surprises.