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NZD/USD trades lower on Wednesday, hovering around 0.5910 at the time of writing and down 0.38% on the day. The Kiwi remains under pressure as investors stay cautious amid persistent risk aversion in global markets, driven by escalating geopolitical tensions in the Middle East.The conflict involving the United States (US) and Iran continues to generate uncertainty across financial markets. Military operations in the region are ongoing, while risks of disruptions in the Strait of Hormuz, a key global Oil shipping route, keep energy markets on edge. This situation maintains strong volatility in Oil prices and fuels concerns about rising global…

The Reserve Bank of India (RBI) on Wednesday said it will inject Rs 50,000 crore into the banking system through Open Market Operation (OMO) purchases of government securities on March 13.The auction will take place between 9:30 am and 10:30 am on March 13, the central bank said in a release.This auction is part of the Rs 1-lakh crore OMO purchase of G-Sec announced by the central bank on March 6.The RBI will purchase securities such as 6.45 per cent GS 2029, 7.95 per cent GS 2032, 6.79 per cent GS 2034, 6.64 per cent GS 2035, 7.41 per cent…

MUFG’s Head of Research Derek Halpenny reports that the IEA has proposed a record Oil reserve release of 300–400 million barrels, potentially covering 15–20 days of Strait of Hormuz flows and easing supply constraints for several weeks.Record reserve plan versus Hormuz disruption”The Wall Street Journal is reporting that the IEA has proposed the largest ever release of oil reserves which may be an indication that an agreement has been reached amongst G7 for the release of 300-400mn barrels that had been under discussion since the surge in crude oil prices on Monday.””Given that usually around 20mn barrels of oil are…

The rupee declined 16 paise to settle at 92.01 (provisional) against the US dollar on Wednesday, weighed down by a sharp rise in global crude oil prices and a stronger greenback as the war in West Asia raged on.FII outflows and weak sentiments in the domestic equity markets further pressured the local unit, according to forex traders.At the interbank foreign exchange, the rupee opened at 91.92 against the US dollar and traded in the range of 91.85-92.06 before settling at 92.01 (provisional), down 16 paise from its previous close.The rupee staged a strong recovery from its record low against the…

DBS Group Research strategist Philip Wee argues that the DXY Index’s failed breach of 99.7 signals a turning point for 2026 risk sentiment, as the fading “energy apocalypse” trade and G7/IEA actions reduce safe-haven demand for the Dollar. He highlights that a restrictive +0.75% real rate and 4.4% unemployment now limit USD upside compared with 2022.DXY failure at 99.7 shifts narrative”The DXY Index’s failed breach of 99.7 marks a critical transition in the 2026 risk narrative.””While the DXY’s failure at 99.7 was triggered by the oil price collapse, the underlying resistance is rooted in a Fed that is already in…

The rupee fell 4 paise to 91.89 against US dollar in early trade on Wednesday weighed down by FII outflows and the unrelenting conflict in the Middle East.The rupee fell 4 paise to 91.89 against US dollar in early trade on Wednesday weighed down by FII outflows and the unrelenting conflict in the Middle East. However, a weaker greenback and falling global crude oil prices prevented sharper loss in the local unit, according to forex traders.At the interbank foreign exchange, the rupee opened at 91.92 against the US dollar before rising to 91.89, down 4 paise from its previous close.…

The US Bureau of Labor Statistics (BLS) will publish the February Consumer Price Index (CPI) data on Wednesday. The report is expected to show a stabilization in inflation, still above the Federal Reserve’s (Fed) 2% target. The monthly CPI is forecast to rise 0.3%, following the 0.2% increase recorded in January, while the annualized reading is seen holding steady at 2.4%. Core CPI figures, which exclude volatile food and energy prices, are expected to come in at 0.2% and 2.5%, on a monthly and yearly basis respectively. Although inflation data is critical for Fed officials when deciding on the next…

The Israel Defense Forces said that it had unleashed a new wave of strikes on Iran, shortly after a round of explosions was heard in Tehran.Israel also launches more missiles at Lebanon, where the Israeli military says it’s targeting infrastructure that belongs to Iran-backed Hezbollah in the south of the Lebanese capital.The Financial Times reported late Tuesday that Israel rejected Lebanon’s request for cessation in fighting to allow for talks, demanding negotiations only take place “under fire.”  Market reactionAt the time of writing, the West Texas Intermediate (WTI) is down 1.06% on the day at $83.85, retreating from over three-year highs…

ING economists Peter Virovacz and Zoltán Homolya note that Hungarian inflation fell to 1.4% year-on-year in February 2026, below consensus and their own optimistic forecast. Core inflation dropped to 2.1%, but rising energy costs, fuel prices and a weaker Forint threaten this benign picture. They see inflation rebounding above 3% by mid-year and towards 4% by year-end, averaging around 3% in 2026.Low CPI challenges rate cut prospects”Inflation in Hungary came even lower than the most optimistic forecast. The base effect and the positive trend in monthly repricing pushed the headline number to a level not seen in 10 years. However,…

Gold (XAU/USD) trades on a firm note on Tuesday, building on the previous day’s rebound from levels near $5,000. The precious metal is drawing support from a softer US Dollar (USD) and subdued Treasury yields, while the ongoing US-Iran war keeps market sentiment cautious and continues to cushion the downside.At the time of writing, XAU/USD is trading around $5,167, up nearly 0.55% on the day, with sellers defending the $5,200 level.War headlines drive sharp moves in Oil and global risk sentimentMarkets digested conflicting headlines around the US-Iran war. CBS reported on Monday that US President Donald Trump said, “I think…