Nordea Chief Economist Helge J. Pedersen discusses how Denmark’s strong public finances and rising employment provide a solid base to absorb sharply higher defense spending mandated by NATO’s new 5% of GDP target.

Russia Unemployment Rate came in at 2.2%, below expectations (2.3%) in February

Rabobank’s Senior Macro Strategist Stefan Koopman argues that the recent surge in Oil and natural gas prices has derailed expectations for near-term Bank of England rate cuts, with the policy rate now seen on hold through 2026.

Economic activity in the US service sector gathered momentum in February, with the ISM Services PMI advancing to 56.1 from 53.8 in the previous month, coming in above analysts' expectations of 53.5.

United States ISM Services PMI came in at 56.1, above expectations (53.5) in February

United States ISM Services New Orders Index: 58.6 (February) vs 53.1

United States ISM Services Employment Index rose from previous 50.3 to 51.8 in February

United States ISM Services Prices Paid dipped from previous 66.6 to 63 in February

United States S&P Global Composite PMI below expectations (52.3) in February: Actual (51.9)

United States S&P Global Services PMI registered at 51.7, below expectations (52.3) in February

DBS Group Research economists Radhika Rao and Daisy Sharma use their GDP Nowcast model to assess India’s real GDP trajectory. They note that India’s 4Q FY25 growth remained strong but is likely to ease in 1Q26.

Commerzbank’s Antje Praefcke notes that the Norwegian Krone has been one of the best performers, helped by a hawkish shift in Norges Bank expectations after stronger January inflation and higher Oil prices.

National Bank of Canada (NBC) economist Taylor Schleich highlights that since 2022, U.S. real GDP growth have outpaced Canada.

Stephen Miran, Federal Reserve (Fed) Governor, said that it’s too early to have firm views about the impact the conflict in Iran will have onto the economy in an interview with Bloomberg TV on Wednesday.

Deutsche Bank’s Sanjay Raja and Shreyas Gopal warn that renewed energy price shocks are clouding the UK inflation outlook. They note that Oil and gas prices have surged, and that around half of the UK CPI basket is now highly energy‑intensive, especially services.

Canada Labor Productivity (QoQ) in line with expectations (-0.1%) in 4Q

United States ADP Employment Change registered at 63K above expectations (50K) in February

MUFG’s Lee Hardman notes that the Dollar has rebounded sharply as Operation “Epic Fury” triggers a fresh energy price shock, pushing the Dollar index back toward the 96.000–100.00 range.

Comments from US Treasury Secretary Scott Bessent on Wednesday offered a broad snapshot of the US administration’s thinking on the labour market, trade policy and energy security, as markets continue to navigate heightened geopolitical tensions and renewed volatility in oil prices.

Iran may have quietly explored the possibility of opening communication channels with the United States (US) despite the ongoing conflict, according to a report from the New York Times cited by Reuters on Wednesday.

United States MBA Mortgage Applications increased to 11% in February 27 from previous 0.4%

TD Securities’ Global Strategy Team notes that UK Chancellor Reeves delivered a cautious Spring Statement with no major new policies. Updated OBR projections show slightly slower UK growth in 2026 but stronger growth thereafter, alongside lower inflation forecasts.

Italy Gross Domestic Product (YoY) meets forecasts (0.8%) in 4Q

Italy Gross Domestic Product (QoQ) in line with expectations (0.3%) in 4Q

Commerzbank’s Tatha Ghose expects Poland’s NBP to deliver a 25 bps rate cut today, with slower-than-anticipated inflation justifying easing.

United Kingdom S&P Global Services PMI meets forecasts (53.9) in February

United Kingdom S&P Global Composite PMI came in at 53.7, below expectations (53.9) in February

Rabobank's Senior Macro Strategist Bas van Geffen notes that markets are treating the Middle East conflict as an inflation risk for the Eurozone. He highlights that EUR money markets now partly price an ECB rate hike this year.

Italy Unemployment below forecasts (5.6%) in January: Actual (5.1%)

The Automatic Data Processing (ADP) Research Institute will release its monthly report on private-sector job creation for February on Wednesday.