PANews, March 21: According to Jin10, over the past week, as the situation between the U.S., Israel, and Iran rapidly escalated, affecting energy production facilities in the Gulf region, energy prices surged, inflation concerns intensified, and the global interest rate market’s “hawkish repricing” gained momentum. Amid sharply rising expectations of Fed rate hikes combined with tightening liquidity, the traditional safe-haven appeal of precious metals has been overshadowed by the dollar’s magnet effect. Below are the key market focus points for the coming week (all times in Beijing Time): Tuesday, 7:30: Japan’s February core CPI year-over-year; Tuesday, 16:15, 16:30, 17:00, 17:30: Preliminary March manufacturing/PMI for France, Germany, the Eurozone, and the UK; Tuesday, 21:45: Preliminary March S&P Global manufacturing/PMI for the U.S.; Wednesday, 15:00: UK’s February CPI monthly rate, UK’s February retail price index monthly rate; Wednesday, 17:00: Germany’s March IFO Business Climate Index; Wednesday, 20:30: U.S. fourth-quarter current account, U.S. February import price index monthly rate; Wednesday, 22:30: U.S. EIA crude oil inventories for the week ending March 20; Thursday, 20:30: U.S. initial jobless claims for the week ending March 21; Thursday, TBA: G7 Finance Ministers meeting, concluding March 27; Friday, 7:00: Fed Vice Chair Jefferson delivers a speech; Friday, 22:00: Final U.S. March University of Michigan Consumer Sentiment Index and final one-year inflation expectations; Friday, 23:30: 2027 FOMC voter and San Francisco Fed President Daly delivers opening remarks at a conference on macroeconomic and monetary policy. The March manufacturing and services PMIs from Europe and the U.S. to be released on Tuesday will provide an initial indication of business activity performance amid the Iran conflict and the impact of soaring energy prices. As the U.S. is a net energy exporter, its economy is considered more resilient than many European nations. Under the shadow of surging oil prices, the Fed’s policy balance appears to be shifting back toward inflation concerns. The UK’s February CPI data to be released on Wednesday will be a highlight of UK economic data for the coming week. Japan’s next test may come with Tuesday’s release of February national CPI figures. Additionally, rapidly rising U.S. Treasury yields—fueled by soaring energy prices and global central banks adopting a more cautious monetary stance—are increasingly becoming a risk factor for equity markets.
Global Macro Outlook: U.S. and Eurozone PMI Data to Be Monitored Amid Rising Energy Prices
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Summary
The Fear and Greed Index remains near extreme levels as traders prepare for key inflation data from the U.S. and Eurozone this week. Rising energy prices and geopolitical tensions are expected to influence central bank decisions. Market participants are closely monitoring PMI readings for signs of economic stress. Inflation data could shift expectations around monetary policy.
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