US President Donald Trump said on Saturday that the US struck military targets at a strategic Iranian outpost in the Persian Gulf and warned it could hit oil infrastructure next if Tehran keeps disrupting energy flows in the Strait of Hormuz, intensifying the two-week conflict in the region.

An article of the Wall Street Journal mentioned that a Federal Judge threw out a pair of subpoenas that the Justice Department issued to the Federal Reserve Chair Jerome Powell.

United States CFTC Gold NC Net Positions climbed from previous $160.1K to $163.1K

United Kingdom CFTC GBP NC Net Positions down to £-84.2K from previous £-72.7K

United States CFTC Oil NC Net Positions up to 228K from previous 172.2K

Australia CFTC AUD NC Net Positions dipped from previous $67.8K to $54.2K

United States CFTC S&P 500 NC Net Positions climbed from previous $-168.2K to $-134.5K

Eurozone CFTC EUR NC Net Positions declined to €105.1K from previous €136.5K

Japan CFTC JPY NC Net Positions dipped from previous ¥-16.6K to ¥-41.4K

OCBC strategists Sim Moh Siong and Christopher Wong highlight that USD/KRW has pushed toward 1,495, reflecting KRW’s high-beta nature during geopolitical stress and energy price spikes.

The US Dollar (USD) is ending the week on a firmer stance as the US/Israeli war against Iran closes in on two weeks. Iran's closure of the Strait of Hormuz has spiked Oil prices, boosting inflation risks and prompting investors to hide in safe-haven currencies like the Greenback.

Commerzbank’s Senior Economist Dr. Henry Hao expects upcoming China data to confirm a structural divergence: Industrial Production around 5.5% year-on-year, supported by a 21.8% export surge in green tech, versus modest 3.0% retail sales and subdued Fixed-Asset Investment near 1.5%.

MUFG analysts Lin Li, Michael Wan, Lloyd Chan and Khang Sek Lee highlight that Asian currencies and rates are vulnerable as the Iran conflict threatens Oil supply via the Strait of Hormuz.

United Kingdom NIESR GDP Estimate (3M) unchanged at 0.3% in February

Nordea’s Torbjörn Isaksson reports that Swedish CPIF and CPIF ex energy were confirmed at low year-on-year levels, with seasonally adjusted core measures well below the 2% target. Despite a bounce in core services inflation, overall pressures remain subdued.

The number of job openings in the US was little changed at 6.94 million in January, while for December it was revised upward to 6.55 million from the 6.54 million previously reported, the US Bureau of Labor Statistics (BLS) reported in the Job Openings and Labor Turnover Survey (JOLTS) on Friday.

American consumer confidence deflated in early March, as households grew more pessimistic about current conditions and the broader economic outlook, according to preliminary data from the University of Michigan.

OCBC strategists Sim Moh Siong and Christopher Wong highlight that Brent’s move above USD100/bbl and rising Hormuz disruption risk raise the odds of a durable energy shock, with markets bracing for stagflation and a stronger Dollar.

TD Securities, led by Robert Both and colleagues, expects the Bank of Canada to leave the policy rate at 2.25% in March.

United States JOLTS Job Openings above forecasts (6.7M) in January: Actual (6.946M)

United States UoM 5-year Consumer Inflation Expectation fell from previous 3.3% to 3.2% in March

United States UoM 1-year Consumer Inflation Expectations remains at 3.4% in March

United States Michigan Consumer Expectations Index down to 54.1 in March from previous 56.6

United States Michigan Consumer Sentiment Index registered at 55.5 above expectations (55) in March

Royal Bank of Canada (RBC) economist Claire Fan notes that February’s Canadian labour market data were weak, with employment falling and the unemployment rate rising to 6.7% as participation declined. She highlights that volatile monthly data are being distorted by slower population growth.

Nordea strategists Ole Håkon Eek-Nielsen and Jan von Gerich argue the Federal Reserve is unlikely to cut rates and could even face pressure to hike as a potential energy shock lifts inflation risks.

Nomura economists expect the Bank of England to keep rates on hold next week, highlighting that $100 Oil could add about 0.6 percentage points to UK CPI via fuel costs.

BNY’s Head of Markets Macro Strategy Bob Savage notes that several current-account-surplus economies, including the Euro area, face renewed pressure from higher energy costs.

"New orders for manufactured durable goods in January, down three of the last four months, decreased $0.1 billion or virtually unchanged to $321.2 billion," the US Census Bureau reported on Friday.

Russia Foreign Trade fell from previous $10.021B to $6.597B in January