MSE increased to 4001.00 Index Points, the highest since July 2024. Over the past 4 weeks, Malta Stock Exchange gained 2.1%, and in the last 12 months, it increased 2.47%.

Stocks in Malta Hit 20-month High

The Ibovespa tumbled 2.3% to 176,219 on Friday marking its fourth consecutive weekly decline amid intensifying Middle East conflict. This retreat represents a fundamental transition toward the pricing of global geopolitical shocks as the real plummeted and future interest rates rose broadly. Despite the BCB previously delivering a smaller than expected 25 basis point cut the outlook for further easing has darkened as war driven energy costs push inflation projections away from the 3% target. Major banks were decimated with Santander and Itaú Unibanco falling around 2% while B3 Sa Brasil Bolsa Balcao fell over 4%. Even commodity giants Vale and Petrobras were unable to escape the risk aversion falling 2.1% and 2.6% respectively as traders weighed the potential for prolonged disruption to global trade flows.

Ibovespa Logs 4th Straight Weekly Decline

The Dow Jones Index dropped -444 points or 0.96 percent on Friday to close at 45577 points. Losses were led by Honeywell International (-3.28%), Nvidia (-3.17%) and Boeing (-3.00%). Offsetting the fall, top gainers were Verizon (1.29%), Visa (0.66%) and Goldman Sachs (0.63%).

The Dow Jones Index Closes 0.96% Lower

Brent crude oil futures climbed past $110 per barrel on Friday, the highest since mid 2022, as investors monitored the latest escalations in the Middle Eastern conflict. Markets are now pricing in actual supply destruction as Iraq declared force majeure on all oilfields and drone strikes hit Kuwaiti refineries. Meanwhile, President Donald Trump rejected a ceasefire in Iran and expressed confidence the Strait of Hormuz would open itself despite the Pentagon deploying thousands of additional Marines amid weighing plans to seize Kharg Island. Geopolitical risk premiums expanded following drone strikes on refineries in Kuwait and reports of heavy preparations for ground troops. Markets are now discounting a diplomatic resolution and instead preparing for a prolonged disruption to global energy flows. Geopolitical risk premiums expanded despite the IEA releasing 400 million barrels from reserves as plunging tanker traffic outweighed emergency inventory measures.

Brent Crude Rises Past $110

WTI crude oil futures rose toward $98 per barrel as investors monitored the latest escalations in the Middle Eastern conflict. Markets are now pricing in actual supply destruction as Iraq declared force majeure on all oilfields and drone strikes hit Kuwaiti refineries. Meanwhile, President Donald Trump rejected a ceasefire in Iran and expressed confidence the Strait of Hormuz would open itself despite the Pentagon deploying thousands of additional Marines amid weighing plans to seize Kharg Island. Geopolitical risk premiums expanded following drone strikes on refineries in Kuwait and reports of heavy preparations for ground troops. Markets are now discounting a diplomatic resolution and instead preparing for a prolonged disruption to global energy flows. Geopolitical risk premiums expanded despite the IEA releasing 400 million barrels from reserves as plunging tanker traffic outweighed emergency inventory measures. Also US crude stocks at Cushing rose to 27.52 million barrels.

Crude Oil Extends Upward Momentum

The S&P/TSX Composite Index fell 1.7% to 31,317 on Friday as the Canadian benchmark tracked its fourth straight weekly loss amid escalating Middle East conflict and surging energy costs. Materials stocks were primary laggards following a drop in gold prices with Agnico Eagle, Barrick Gold, Wheaton Precious Metals and Franco-Nevada plunging between 2% and 5.6%. Financial heavyweights faced broad selling as TD Bank and Bank of Montreal dropped around 2% despite the Bank of Canada holding interest rates steady at 2.25% on March 18th. Energy producers provided a minor cushion with Suncor Energy and Cenovus Energy posting modest gains as global crude prices spiked. These developments followed a busy week where traders monitored reports of force majeure in Iraqi oilfields and potential US military deployments to the region. The index has now retreated over 7% in March as geopolitical volatility continues to pressure global equity markets.

TSX Drops For 4th Consecutive Week

The S&P 500 dropped 1.5%, the Nasdaq 100 plunged 1.8% to six-month lows while the Dow Jones lost 0.8% to four-month lows on Friday amid escalating Middle East conflict and surging energy prices. This downturn drove the major averages into correction territory as West Texas Intermediate futures climbed further following reports that Iraq declared force majeure on all oilfields. Sentiment soured further as the Pentagon prepared to deploy additional Marines to the region while the Federal Reserve maintained interest rates between 3.50% and 3.75% earlier this week. Micron Technology fell 4.8% while Supermicro tumbled 33.3% as it faced ongoing pressure following chip smuggling charges against its CEO. Conversely, FedEx added 1% on strong guidance and energy majors like Exxon Mobil was 1% higher amid the crude spike.

S&P 500 and Nasdaq Tumble to 6-Month Lows

Argentina’s retail sales rose 20.7% year-on-year in January 2026 to ARS 512,721.5 million, accelerating from a 16.1% increase in December and marking the sharpest increase since August. At current prices, the strongest gains were recorded in amoblamientos, decoración y textiles para el hogar 44.0%, patio de comidas, alimentos y kioscos 35.4%, perfumería y farmacia 34.3% and librería y papelería 29.3%. Sales in the City of Buenos Aires grew 23.8% to ARS 139,315.2 million, while Greater Buenos Aires posted a 21.8% rise to ARS 308,450.9 million. At constant prices, however, retail sales fell 0.1% year-on-year to ARS 5,676.8 million.

Argentina Retail Sales Growth Rises the Most in 5 Months

The Central Bank of Paraguay maintained its policy interest rate at 5.50% at its March meeting. The committee cited global developments including IMF estimates showing global growth at 3.3% in 2025 and 2026, while in the US GDP grew 0.7% annualised in Q4 2025, February job gains undershot expectations as unemployment rose to 4.4%, and annual inflation held at 2.4%, with markets now pricing no further Federal Reserve cuts in 2026. Internationally oil prices rose past $100 per barrel amid geopolitical uncertainty despite oversupply expectations, while agricultural prices were mixed with moderate increases in soybeans, corn, and wheat. Domestically the IMAEP grew 0.9% year on year in January supported by services, electricity and water, and agriculture, while the business figures estimator rose 0.2%. Inflation continued to ease with the CPI at 0% in February, annual inflation reaching 2.3%, and inflation expectations anchored at 3.5%. The CPM reaffirmed its commitment to price stability.

Paraguay Holds Interest Rate at 5.5%

Argentina’s economy grew by 2.1% year-on-year in the December quarter of 2025, falling short of expectations for a 2.2% expansion and slowing from a 3.3% increase in the previous quarter. The slowdown was driven by renewed weakness across several key sectors with manufacturing production still in contraction (-2.2% vs. -2.4% in Q3) and wholesale and retail trade shrinking markedly (-5.0% vs. 0.6%). In contrast some areas still drove expansion with growth in agriculture surging significantly (16.1% vs. 0.8%) as the post drought rebound intensified while utilities remained in contraction (-0.7% vs. -0.8%). Transportation and communications also accelerated slightly (2.2% vs. 1.8%) and financial intermediation posted strong gains (17.2% vs. 28.4%). On a quarterly basis Argentina’s GDP rose 0.6% continuing a 0.3% increase in the previous period.

Argentina GDP Expands Less Than Expected in Q4

United States Stock Market Index (US500) decreased below 6500 points.

United States Stock Market Index (US500) below 6500

The war in the Persian Gulf will remain the driver of market movements as energy exports from the region are all but halted ahead of the fourth week of conflict. Economic data in the US will be headlined by leading indicators in the S&P PMI, Michigan consumer confidence index, and results from surveys by multiple regional Fed banks. Flash PMIs will also be featured in the Euro Area and its largest economies, the UK, Japan, Australia, and India. Local confidence indicators will be posted in Germany and the Euro Area for more hints on the war's impact on sentiment. Consumer inflation reports are due in Japan, the UK, and Australia, while Spain will be the first major economy with March results. In turn, central bank policy decisions will take place in Norway and Mexico.

Week Ahead - Mar 23rd

Nuclear Energy Index decreased to 46.27 USD, the lowest since January 2026. Over the past 4 weeks, Nuclear Energy Index lost 14.13%, and in the last 12 months, it increased 85.48%.

Nuclear Energy Index Hits 11-week Low

Orange Juice decreased to 162.60 USd/Lbs, the lowest since February 2026. Over the past 4 weeks, Orange Juice lost 1.28%, and in the last 12 months, it decreased 40.84%.

Orange Juice Hits 5-week Low

European stocks closed sharply lower on Friday as risks to energy supply triggered a surge in their prices and risks of stagflation in European economies. The Eurozone's STOXX 50 fell 1.9% to the lowest since September, and the pan-European STOXX 600 dropped 1.72% to 574. ASML and SAP dropped more than 3.5% each to track the sharp losses for the global tech sector. Banks were also sharply lower as sovereign bonds extended their selloff, pressuring major lender balance sheets with UniCredit sinking nearly 4% and BNP Paribas, Intesa Sanpaolo, and Nordea dropping more than 2%. Hawkish signals from ECB policymakers yesterday drove rate traders to position for two hikes this year, with the first potentially being delivered as early as next week.

European Stocks Close Sharply Lower

Frankfurt's DAX 40 closed about 2% lower at 22,397 on Friday, the lowest since April 2025, marking the third consecutive session of declines. Traders weighed the risk of further escalation in Middle East tensions, reviving concerns over a prolonged energy crisis and price pressures. According to the Wall Street Journal, the US is sending three warships and thousands of additional marines (up to 2,500) to the Middle East, the second deployment to the region in the past week. At the same time, Israel claimed to have killed two senior Iranian security officials, which could prompt retaliation attacks. In equities, E.ON (-5.7%) and SAP (-4.2%) led the losses, followed by Siemens Energy (-3.5%), MTU Aero Engines (-3.3%), Rheinmetall (-3.3%), GEA Group (-3.3%), Zalando (-3.2%) and Siemens (-3.1%):

DAX Slips to 11-Month Lows

The FTSE MIB Index fell -773 points or 1.77 percent on Friday to close at 42928 points. Leading the losses are Infrastrutture Wire (-8.55%), STMicroelectronics (-3.51%) and UniCredit (-3.48%).

The FTSE MIB Index Closes 1.77% Lower

The FTSE MIB fell 2% to close at 42,840 on Friday, as surging energy prices prompted major central banks to warn of fresh inflation risks. On Thursday, the ECB held rates steady as expected but raised its inflation forecasts, spurring markets to price in two rate hikes this year. Financials old off as BTP yields surged to their highest since June 2025, with UniCredit falling 3.8%, BPM dropping 2.9%, and Intesa Sanpaolo down 2.2%. However, Inwit led losses, tumbling 7.5% after cutting its 2026 guidance amid escalating disputes with anchor tenants. Also, Leonardo dropped 4.1% amid hopes of de-escalating geopolitical tensions as US signals it is unlikely to deploy ground forces against Iran, and Treasury Secretary Scott Bessent’s suggestion of potential easing on Iranian oil sanctions.

FTSE MIB Plunges as Inflation Fears Mount

The DAX Index dropped -446 points or 1.95 percent on Friday to close at 22394 points. Losses were led by SAP (-4.26%), E.ON (-3.78%) and Zalando (-3.61%).

The DAX Index Closes 1.95% Lower

The CAC 40 Index decreased -143 points or 1.83 percent on Friday to close at 7665 points. The decline was led by Hermes International (-4.66%), Societe Generale (-4.37%) and Safran (-4.20%).

The CAC 40 Index Closes 1.83% Lower

The FTSE 100 Index fell -146 points or 1.45 percent on Friday to close at 9917 points. Leading the losses are Smiths (-10.85%), Babcock International (-4.12%) and Antofagasta (-3.96%).

The FTSE 100 Index Closes 1.45% Lower

The FTSE 100 dropped more than 1% on Friday to its lowest level this year as rising oil prices and growing expectations of rate hikes weighed on sentiment, with investors concerned that higher energy costs could trigger an inflation spiral. The Bank of England’s more hawkish tone has reinforced the likelihood of tighter policy. Banking stocks declined, with HSBC down 1.8%, Lloyds 1.6% and Barclays 2%, while oil majors Shell and BP fell 1% and 3.3%. Healthcare names AstraZeneca and GSK also slipped, alongside heavyweights Rolls Royce, BAT, Rio Tinto and Glencore, while BAE Systems lost 3%. Travel stocks offered some support, with EasyJet up nearly 2% and IAG 1.4%. The index is down about 2.7% this week, marking a third consecutive weekly loss.

FTSE 100 Hits 2026 Low on Oil Surge, Rate Hike Fears

The CAC 40 plunged 1.8% to close at 7,666 on Friday, recording its third consecutive weekly decline and hitting a fresh monthly low, as the rally inspired by diplomatic signals in the Middle East gave way to a broader selloff in European equities. Despite earlier suggestions of de-escalation from US and Israeli leadership, investors rotated out of luxury and technology heavyweights while bracing for a hawkish interest rate path from the ECB. Hermes International led the retreat with a 4.9% drop while Safran and Thales fell 4% and 2.7%, respectively as geopolitical uncertainty persisted. The banking sector faced significant pressure with BNP Paribas sliding 2.8% and Societe Generale losing 4.2%. Meanwhile energy major TotalEnergies fell 2.1% amid volatile crude prices.

CAC 40 Records 3rd Straight Weekly Loss

Cotton futures have been gradually easing to near 67 cents per pound, pulling away from nine-month highs of nearly 69 cents per pound hit on March 17. A firmer dollar, technical adjustments and signs of mild demand weighed on prices. Buyer sentiment remained cautious, with importers adopting a wait-and-watch approach amid uncertain price direction. Reflecting this, the latest USDA's weekly exports sales report showed US cotton export sales softened in the week ended March 12, after the previous week’s rebound, while shipments eased from peak levels but remained higher than average. In the meantime, ICE certified stocks declined to 115,640 bales as of March 18, offering some support from underlying supply tightness. Meanwhile, geopolitical tensions are shaping market conditions across agricultural commodities, with effects felt across cotton and key crops.

Cotton Futures Lower

Lithium carbonate prices in China fell to CNY 150,000 per tonne in March, their lowest in a month, amid signs of a momentary pullback in battery demand. Electric vehicle sales by top Chinese manufacturer BYD tanked 40% annually in February, a reversal from the growing trend in the previous months to raise concerns that the Chinese EV market may be slowing. The data magnifies worries that higher energy costs due to war in the Middle East could hamper large manufacturers from building input goods inventories, driving industrial metals to pull back. Still, Chinese supply was also expected to remain muted due to Beijing's anti-involution campaign. Authorities have already canceled 27 mining permits in the lithium hub of Jiangxi, aligned with the earlier suspension of activity in CATL's Jianxiawo lithium mine. Also, Zimbabwe suspended exports of lithium concentrates to put pressure on consumers to set up their refining operations in the country.

Lithium Falls to 1-Month Low

Uranium futures in the US fell to $85 per pound in March, its lowest in two months, despite the upswing in coal prices to reflect concerns that the year-start rally may have been overdone. Still, yellowcake prices remained slightly higher since the December on the bullish view of demand. Recent developments in nuclear power investment have been headlined by operators of power-hungry data centers, driving multiple tech giants in the US to sign contracts for small modular reactors. The US cut regulations on the construction and permits for uranium converters and enrichers and announced deals for the construction of new power plants. These include a partnership with Cameco, which approved the development of Westinghouse reactors, and a fresh $2.7 billion in contracts to Centrus and two other reactors and enrichers to offset the shun of supply from Russia following sanctions on their nuclear fuel.

Uranium Erases Year-Start Rally

The Baltic Exchange’s dry bulk index, which tracks rates for vessels transporting dry commodities, fell slightly for a second session on Friday, down about 0.1% to 2,056 points. The panamax index, which usually carry 60,000 to 70,000 tons of coal or grain, decreased about 0.3% to 1,904 points; and the supramax index fell by 0.4% to 1,224 points. On the other hand, the capesize index, which typically transport 150,000-ton cargoes including iron ore and coal, rose by 0.2% to 2,971 points. The benchmark index logged a 1.4% weekly gain.

Baltic Dry Index Eases, Still Posts Weekly Gain

HK50 decreased to 24873.00 Index Points, the lowest since August 2025. Over the past 4 weeks, Hong Kong Stock Market Index (HK50) lost 6.66%, and in the last 12 months, it increased 6.7%.

Stocks in Hong Kong Hit 29-week Low

Copper is down by 2%

Arabica coffee futures rose to around $3.1 per pound, the highest level since early February, due to signs of tightening short-term supply in top grower Brazil and ongoing external risks. A report by Cooxupé, Brazil’s largest coffee cooperative, estimated that exports would fall 10% in 2026 to around 4.4 million bags, down from 4.9 million in 2025. This short-term reduction in supply is a direct consequence of the smaller 2025 harvest, putting pressure on export volumes in the first half of 2026, although the outlook for the new harvest remains optimistic. At the same time, dealers noted that farmers continue to hold back sales in anticipation of higher prices, limiting availability. Geopolitical tensions and uncertainty over global trade flows, including risks to logistics routes and rising transportation costs, are providing additional support and helping sustain elevated prices.

Arabica Coffee Futures at Over 1-Month High

The Brazilian 10-year government bond yield fell below 14.1% as record liquidity interventions by the National Treasury countered a violent selloff triggered by Middle Eastern energy shocks. While yields surged past 14.3% following a 25 basis point reduction in the Selic rate to 14.75% on March 18th, the domestic curve stabilized after authorities executed R$49.1 billion in buybacks to provide an exit window for traders. This tactical cooling coincided with easing energy costs as investors weighed diplomatic signals regarding the potential reopening of the Strait of Hormuz. Despite these efforts, the market remains wary of a shrinking liquidity cushion and the removal of forward guidance by the Copom due to persistent inflation uncertainty. Financial participants are now balancing the relief provided by the Treasury against the long-term fiscal pressure of R$61 billion in mandatory parliamentary amendments.

Brazil 10-Year Bond Yield Eases After Record Intervention

Silver plunged 5% to $69.5 per ounce on Friday, marking a 14% weekly collapse, as the Middle East conflict drove energy prices higher and crushed hopes for monetary easing. The sell-off accelerated after reports of expanded US military deployment to the region, pushing traders to assign a 50% probability to a Federal Reserve rate hike by October and to price in at least three hikes each from the European Central Bank and Bank of England in 2026. The metal has now declined for three straight weeks since the US-Israel strikes on Iran, weighed down by rising Treasury yields, a resurgent dollar, and investor liquidations to cover losses. Earlier this week, major central banks, including the Fed, ECB, BoE, and Bank of Japan held rates steady but signaled readiness to tighten policy further if inflationary pressures persist.

Silver Crashes 5% as Iran War Sparks Rate Hike Bets

Gold tumbled 2% to $4,570 per ounce on Friday, on track for its largest weekly decline since 1983, as escalating Middle East tensions sent energy prices soaring and dashed hopes for near-term interest rate cuts. Prices extended their decline after reports that the Pentagon is deploying three warships and thousands of Marines to the region, prompting traders to price in a 50% chance of a rate hike by October amid fears of sustained inflation. The safe-haven metal has fallen every week since the US-Israel strikes on Iran last month, pressured by rising Treasury yields, a stronger dollar, and profit-taking as investors liquidated positions to offset losses elsewhere. Earlier this week, the Federal Reserve, European Central Bank, Bank of England, and Bank of Japan held rates steady but signaled readiness to tighten policy further if inflationary pressures persist.

Gold Set for Biggest Weekly Drop Since 1983

Copper futures in the US fell to below $5.4 per pound in March, the lowest in three months and tracking the decline for key industrial metals amid a strong dollar and concerns that high energy prices will dent manufacturing demand. Key oil and LNG prices held most of their surge this month after the conflict in the Persian Gulf resulted in the destruction of energy infrastructure and halted energy exports from tankers. The developments limited the outlook on manufacturing by biting factory's margins and limiting consumers' purchasing power. Additionally, the upside inflation risks drove Federal Reserve policymakers to strike a hawkish tilt in their economic projections, lifting the dollar and pressuring greenback-priced commodities. The drop was aligned with six-year high copper inventories in the LME and record high stocks in the SHFE, consolidating the lower bidding levels.

Copper Drops to 3-Month Low

Germany 10 Year Government Bond Yield increased to 3.03%, the highest since July 2011. Over the past 4 weeks, Germany 10Y Bond Yield gained 31.11 basis points, and in the last 12 months, it increased 26.14 basis points.

Germany 10Y Bond Yield Hits 14-year High

The Brazilian real weakened toward 5.3 per US dollar as investors reacted to escalating Middle East tensions and record interventions by the National Treasury. The Brazilian currency faced renewed pressure as the Treasury conducted buybacks totaling 49.1 billion reais to stabilize local rates amid a shrinking liquidity cushion. This domestic volatility is compounded by a hawkish Federal Reserve and a surge in Brent crude to mid-2022 highs following reports that the US is considering a takeover of Kharg Island to reopen the Strait of Hormuz. Despite the Central Bank of Brazil starting a cautious easing cycle by reducing the Selic rate to a less-than-expected 14.75% in March meeting, the real's momentum is limited by a rebound in the US dollar. Traders remain focused on the Treasury's ability to manage debt maturities through 2027 as the cash buffer dropped to 6.77 months of coverage in January.

Brazilian Real Tumbles Amid Record Intervention

EU50 decreased to 5543.00 Index Points, the lowest since November 2025. Over the past 4 weeks, Euro Area Stock Market Index (EU50) lost 9.28%, and in the last 12 months, it increased 2.26%.

Stocks in Euro Area Hit 16-week Low

Gold is down by 2.02%

GB100 decreased to 9997.00 Index Points, the lowest since January 2026. Over the past 4 weeks, United Kingdom Stock Market Index (GB100) lost 6.39%, and in the last 12 months, it increased 15.67%.

Stocks in United Kingdom Hit 10-week Low

FR40 decreased to 7768.00 Index Points, the lowest since September 2025. Over the past 4 weeks, France Stock Market Index (FR40) lost 8.53%, and in the last 12 months, it decreased 3.36%.

Stocks in France Hit 25-week Low

The Dow Jones Index is losing -106 points. Losses were led by Salesforce (-1.94%), Microsoft (-1.64%) and Amazon (-1.49%). Offsetting the fall, top gainers were Verizon (1.39%), Chevron (0.83%) and Goldman Sachs (0.68%).

The Dow Jones Index Opens 0.23% Lower

UK 10 Year Government Bond Yield increased to 4.94%, the highest since July 2008. Over the past 4 weeks, United Kingdom 10Y Bond Yield gained 62.11 basis points, and in the last 12 months, it increased 21.04 basis points.

UK 10Y Bond Yield Hits 17-1/2-year High

The Ibovespa lost nearly 1% to trade below 179,000 on Friday, as investors digest a more hawkish tone from central banks amid Middle East tensions, with warnings that the conflict could reignite inflation. On Thursday, the BCB delivered a 25 basis point cut, half of the 50 basis point cut previously expected, and warned that war-driven surges in energy and commodity prices are pushing inflation projections away from the 3% target, leaving the rate outlook uncertain. Banks extended losses, with Itaú down over 1% and Bradesco falling more than 0.5%. Utilities also declined, with Sabesp down nearly 1.4%. Other laggards included Ambev, WEG, and Rede D'Or, all down around 1%. In contrast, Petrobras advanced, still benefiting from higher oil prices amid the Strait of Hormuz blockade.

Ibovespa Set to End Week Lower After Hawkish BCB Tone

The S&P/TSX Composite Index fell around 0.3% to below the 31,800 mark on Friday, setting the index on track for a third straight weekly loss of nearly 2.5%, as investors monitored escalating Middle East tensions. Materials stocks were the primary laggards following a sharp drop in gold prices with Agnico Eagle Mines, Barrick Gold, and Wheaton Precious Metals plunging around 6%. Financial heavyweights remained under pressure as Royal Bank of Canada and the Bank of Nova Scotia fell over 1% despite earlier stability from the Bank of Canada holding rates steady at 2.25% on March 18th. Energy producers provided a partial cushion as Cenovus Energy surged nearly 4% and Canadian Natural Resources rose over 1% amid ongoing geopolitical tensions in the Middle East. These developments followed recent data showing retail sales rose 1.5% in January and a 5.4% advance in the PPI while traders monitored diplomatic signals from US and Israeli leadership regarding the vital Strait of Hormuz.

Canada Stock Market Index (TSX) at 31854.98points

US stocks fell to their lowest in four months on Friday as high energy prices amid war in the Middle East maintained fears of stagflation. The Nasdaq 100 dropped 0.7%, while the S&P 500 fell 0.4% and the Dow was only slightly lower. Oil and LNG prices remained higher as attacks on energy infrastructure, recently headlined by Qatar's largest gas field and key refineries in Kuwait, was met with reports that the US is considering occupying Iran oil export infrastructure in Kharg Island. The developments added to the pro-inflationary backdrop and extended the surge in yields after a hot PPI and hawkish projections by selected FOMC members earlier this week. Supermicro sunk 25% as its CEO was charged with smuggling Nvidia chips to China. On the other hand, Fedex gained 10% on a strong guidance. Also, banks inched higher amid the likely introduction of regulation that will decrease capital mandates, especially for lower-sized lenders.

US Stock Indices Drop to 4-Month Lows

The South Africa rand traded to around 16.9 per USD, hovering near the lowest since early December, reflecting the impact of lingering geopolitical tensions in the Middle East. Emerging market currencies like the rand are typically more sensitive to global uncertainty, and during times of heightened risk, investors tend to shift away from these assets toward safer havens. The rand’s exposure is compounded by South Africa’s reliance on imported oil, meaning that rising global energy prices directly increase domestic costs. The country also lacks a significant strategic oil reserve and does not have the fiscal resources to provide subsidies or reverse tax increases, leaving the currency highly vulnerable if energy prices remain elevated.

South African Rand at Over 3-Month Low

Futures tracking the S&P/TSX Composite Index declined Friday, putting the index on track for a third straight weekly loss, as investors monitored escalating Middle East tensions. Oil prices, which have surged to historic highs in recent weeks, lifted he Canadian energy sector up more than 38% this year, but generated concerns of inflation that presssured financial stocks. Yesterday, the Bank of Canada held interest rates steady but warned it stands ready to raise them if inflation pressures return, keeping banking stocks under pressure. In data released today, retail sales rose 1.5% year-on-year in January, while the PPI advanced 5.4%.

TSX Futures Point to Third Weekly Loss

The yield on Canada’s 10-year government bond climbed past 3.48% amid persistent global inflationary pressures and a hawkish shift in North American interest rate expectations. While headline inflation in Canada decelerated more than anticipated to 1.8% in February and the unemployment rate rose to 6.7% following a loss of 83,900 jobs, the Bank of Canada maintained its overnight rate at 2.25% on March 18th and warned of heightened uncertainty. At the same time, the US February PPI and a more aggressive stance from the Federal Reserve, drove 10-year Treasury notes to August 2025 highs amid escalating conflict in the Middle East. Although markets previously prioritized a widening output gap and cooling food costs, the ongoing risk of energy supply disruptions across the Strait of Hormuz has maintained volatility in benchmark rates. The 10-year benchmark is now following a broader rise in global yields as investors brace for one rate cut at most this year from major central banks.

Canada 10-Year Bond Yield Climbs Past 3.48%

South Africa’s 10-year bond yield was around 9%, the highest since mid-October 2025, reflecting heightened risk aversion amid ongoing global economic uncertainty. Tensions in the Middle East, particularly the escalating Iran conflict targeting key energy infrastructure, continued to drive volatility in energy prices, fueling inflation concerns and dampening expectations for interest rate cuts. South Africa’s headline inflation fell for the second consecutive month to 3% in February, hitting the central bank’s new target. Analysts caution the decline may be temporary, as rising oil prices from the Middle East conflict are expected to push up domestic fuel costs, which could ripple through the broader economy and lift overall inflation in the coming months. The South African Reserve Bank is expected to hold rates at the next meeting on March 26, while signaling a more hawkish tone for the future.

Breaking News

Follow what's happening with real-time updates from around the world.

Stocks in Malta Hit 20-month High

Ibovespa Logs 4th Straight Weekly Decline

The Dow Jones Index Closes 0.96% Lower

Brent Crude Rises Past $110

Crude Oil Extends Upward Momentum

TSX Drops For 4th Consecutive Week

S&P 500 and Nasdaq Tumble to 6-Month Lows

Argentina Retail Sales Growth Rises the Most in 5 Months

Paraguay Holds Interest Rate at 5.5%

Argentina GDP Expands Less Than Expected in Q4

United States Stock Market Index (US500) below 6500

Week Ahead - Mar 23rd

Nuclear Energy Index Hits 11-week Low

Orange Juice Hits 5-week Low

European Stocks Close Sharply Lower

DAX Slips to 11-Month Lows

The FTSE MIB Index Closes 1.77% Lower

FTSE MIB Plunges as Inflation Fears Mount

The DAX Index Closes 1.95% Lower

The CAC 40 Index Closes 1.83% Lower

The FTSE 100 Index Closes 1.45% Lower

FTSE 100 Hits 2026 Low on Oil Surge, Rate Hike Fears

CAC 40 Records 3rd Straight Weekly Loss

Cotton Futures Lower

Lithium Falls to 1-Month Low

Uranium Erases Year-Start Rally

Baltic Dry Index Eases, Still Posts Weekly Gain

Stocks in Hong Kong Hit 29-week Low

Copper is down by 2%

Arabica Coffee Futures at Over 1-Month High

Brazil 10-Year Bond Yield Eases After Record Intervention

Silver Crashes 5% as Iran War Sparks Rate Hike Bets

Gold Set for Biggest Weekly Drop Since 1983

Copper Drops to 3-Month Low

Germany 10Y Bond Yield Hits 14-year High

Brazilian Real Tumbles Amid Record Intervention

Stocks in Euro Area Hit 16-week Low

Copper is down by 2%

Gold is down by 2.02%

Stocks in United Kingdom Hit 10-week Low

Stocks in France Hit 25-week Low

The Dow Jones Index Opens 0.23% Lower

UK 10Y Bond Yield Hits 17-1/2-year High

Ibovespa Set to End Week Lower After Hawkish BCB Tone

Canada Stock Market Index (TSX) at 31854.98points

US Stock Indices Drop to 4-Month Lows

South African Rand at Over 3-Month Low

TSX Futures Point to Third Weekly Loss

Canada 10-Year Bond Yield Climbs Past 3.48%

South Africa 10-Year Bond Yield Hovers Around 5-Month High