Danske Research Team reports a sharp rebound in global equities after US President Trump signalled negotiations and a five-day halt to strikes on Iranian energy assets. European indices reversed steep losses, while US benchmarks closed higher.

BNY strategist John Velis says the March FOMC broadly matched expectations, with no rate change and minimal forward guidance, while markets swiftly repriced toward a more hawkish path.

Bank of Japan (BoJ) Governor Kazuo Ueda said on Tuesday that he expects underlying inflation to accelerate moderately. Ueda added that he will guide monetary policy appropriately to stably achieve our inflation target accompanied by wage gains. 

The Indian Rupee (INR) opens lower against the US Dollar (USD) on Tuesday after a strong recovery move the previous day.

India HSBC Composite PMI fell from previous 58.9 to 56.5 in March

India HSBC Services PMI: 57.2 (March) vs previous 58.1

India HSBC Manufacturing PMI down to 53.8 in March from previous 56.9

West Texas Intermediate (WTI) oil price rebounds after registering over 9% losses in the previous day, trading around $91.00 per barrel during the Asian hours on Tuesday.

AUD/JPY extends its losses for the second successive day, trading around 110.60 during the Asian hours on Tuesday. The currency cross weakens amid heightened risk aversion following a fresh wave of Israeli strikes on Tehran.

Japanese Prime Minister Sanae Takaichi said on X post on Tuesday that the country will start releasing national oil reserves from Thursday.

The USD/JPY pair holds positive ground near 158.55 during the early Asian session on Tuesday. The Japanese Yen (JPY) softens against the US Dollar (USD) after the cooler-than-expected inflation report.

Japan’s Finance Minister Satsuki Katayama said on Tuesday that she plans to compile a temporary budget for 11 days. Katayama further stated that the government will use 800 billion yen reserve funds to finance gasoline subsidies. 

Bloomberg reported on Tuesday that the European Union (EU) and Australia agreed to a free-trade deal and broader partnership, wrapping up almost a decade of talks as the two sides push to tighten ties and reinvigorate a rules-based order that’s under assault from the US President Donald Trump admini

Japan Jibun Bank Manufacturing PMI registered at 51.4, below expectations (52.8) in March

Japan Jibun Bank Services PMI down to 52.8 in March from previous 53.8

San Francisco Federal Reserve Bank President Mary Daly said that unless the Iran conflict resolves quickly and the central bank can simply "look through" a temporary increase in oil prices, it is not clear what the next move on interest rates will need to be, Reuters reported on Monday.

Reserve Bank of New Zealand (RBNZ) Governor Anna Breman said on Tuesday that she sees near-term inflation lift, driven by energy shocks. Breman signaled readiness to act if medium-term inflation risks build.

Japan’s National Consumer Price Index (CPI) rose by 1.3% YoY in February, compared to the previous reading of 1.5%, according to the latest data released by the Japan Statistics Bureau on Tuesday.

Japan National CPI ex Food, Energy (YoY) fell from previous 2.6% to 2.5% in February

Japan National CPI ex Fresh Food (YoY) registered at 1.6%, below expectations (1.7%) in February

Japan National Consumer Price Index (YoY) fell from previous 1.5% to 1.3% in February

The preliminary reading of Australia's S&P Global Manufacturing Purchasing Managers Index (PMI) declined to 50.1 in March versus 51.0 prior, the latest data published by S&P Global showed on Tuesday.

Australia S&P Global Composite PMI: 47 (March) vs previous 52.4

Australia S&P Global Services PMI declined to 46.6 in March from previous 52.8

Australia S&P Global Manufacturing PMI down to 50.1 in March from previous 51

South Korea Producer Price Index Growth (MoM): 0.6% (February)

South Korea Producer Price Index Growth (YoY) climbed from previous 1.9% to 2.4% in February

Standard Chartered economists argue that higher Oil and commodity prices are driving a cost‑push reflation process in China, with CPI inflation in 2026 now projected at 1.2% instead of 0.6%.

Commerzbank’s Dr. Henry Hao and Moses Lim highlight how Chinese policymakers are defending China’s large trade surplus while aiming to keep the CNY broadly stable.

ING economist Min Joo Kang argues that Shin Hyun-song’s nomination as Bank of Korea (BoK) governor points to a more hawkish policy stance, with preemptive rate hikes likely.