XTI/USD Chart Analysis: Oil Prices Remain Volatile.Against the backdrop of military developments in the Middle East, the situation in the oil market is evolving rapidly. Only two days have passed since 9 March, when we published a morning analytical note in which we:

G7 energy ministers reaffirm support of using oil reserves.The statement said that G7 energy ministers supported, in principle, the implementation of proactive measures in order to address the current market situation. And among those measures, it includes the use of strategic oil reserves.

DXY: Real rate ceiling caps Dollar upside – DBS.DXY: Real rate ceiling caps Dollar upside – DBS

G7 Statement: Energy ministers support principle of using oil reserves.G7 Statement: Energy ministers support principle of using oil reserves

ECB's Nagel: Central bank will react if Iran war pushes up inflation.ECB's Nagel: Central bank will react if Iran war pushes up inflation

Today's Eco Calendar Contains February US CPI.The oil price (Brent) hovered around the $90/mark yesterday following Monday's wild swings. Talk that the US navy escorted an oil tanker through the Strait of Hormuz was later denied by the White House.

Markets on Hold as Oil Retreats, Eyes on US CPI.Oil prices reversed their Asian session gains again yesterday, pulling US crude all the way down to the $76pb mark as the International Energy Agency (IEA) announced that it could release a record amount of strategic reserves. The exact amount has not been disclosed yet, but it will reportedly be more than the 182 million barrels released after Russia's invasion of Ukraine in 2022.

Germany Consumer Price Index (YoY) remains unchanged at 1.9% in February.Germany Consumer Price Index (YoY) remains unchanged at 1.9% in February

Germany Harmonized Index of Consumer Prices (YoY) meets forecasts (2%) in February.Germany Harmonized Index of Consumer Prices (YoY) meets forecasts (2%) in February

Oil Price Moves Back Below USD 90/bbl.Geopolitical tensions in Iran continue to dominate market sentiment, with uncertainty over how long the conflict and energy supply disruptions will persist. Investors will be watching closely for updates on the global release of strategic reserves, oil supply disruptions, geopolitical developments, and any further comments from the Trump administration.

BoC: Rates seen on hold through 2026 – RBC.BoC: Rates seen on hold through 2026 – RBC

Exclusive: ECB will react if Iran war pushes up inflation, Nagel says.The European ​Central Bank will move quickly and decisively if more expensive fuel ‌due to the Iran war feeds into durably higher euro zone inflation, ECB policymaker Joachim Nagel told Reuters.

Oil: Volatility spikes on Hormuz disruption – Commerzbank.Oil: Volatility spikes on Hormuz disruption – Commerzbank

Dollar Weakens Ahead of February CPI, Last Clean Inflation Read Before Iran War.The “safe haven” trade continues to unwind today, as seen in the weakness in Dollar. This softening is mirrored across the traditional safe-haven trio, with Yen and Swiss Franc also underperforming.

EUR/JPY strengthens to near 184.00 on BoJ rate hike uncertainty.EUR/JPY strengthens to near 184.00 on BoJ rate hike uncertainty

AUD/JPY rallies to fresh record high, above mid-113.00s on RBA rate hike bets and weak JPY.AUD/JPY rallies to fresh record high, above mid-113.00s on RBA rate hike bets and weak JPY

Elliott Wave Perspective: Assessing Oil's (CL) Upside Amid War-Driven Volatility.The short-term Elliott Wave outlook in Crude Oil (CL) indicates that the cycle from the December 16, 2025 low has advanced as a five-wave impulse. From that low, wave (1) concluded at $66.48, followed by a corrective pullback in wave (2) which ended at $61.12.

BoJ to raise rates by end-June with expectations unchanged by Middle East war — Reuters poll.BoJ to raise rates by end-June with expectations unchanged by Middle East war — Reuters poll

WTI Price Forecast: Struggles near $82.00, 200-hour holds the key for bulls amid Iran war.WTI Price Forecast: Struggles near $82.00, 200-hour holds the key for bulls amid Iran war

Rupee falls 4 paise to 91.89 against US dollar in early trade.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.

US Dollar Index declines below 99.00 on Trump's war comments, US CPI data in focus.US Dollar Index declines below 99.00 on Trump's war comments, US CPI data in focus

BOJ to raise interest rates next quarter with expectations unchanged by Middle East war.The Bank of Japan will keep its key interest rate at 0.75% next week but likely raise it to 1.00% by end-June, a Reuters poll found, expectations that are broadly unchanged from before ​the start of the U.S.-Israeli war against Iran.

US CPI data seen steady in February as markets assess Fed policy outlook.US CPI data seen steady in February as markets assess Fed policy outlook

investingLive Asia-Pacific FX news wrap: IEA propose largest-ever release of oil reserves.Oil markets remained a key focus during the Asia session as developments around the Strait of Hormuz and emergency energy policy discussions helped drive sentiment.

Rupee's recovery faces oil, equity outflow test; mixed Iran signals cloud outlook.The Indian rupee's recovery will face a test on Wednesday from choppy oil prices and foreign outflows from the country's equity market, ​with conflicting signals on a possible Iran de-escalation keeping traders cautious ‌on the currency's ability to hold past the 92-per-dollar mark.

RBA to Hike 0.25% in March, Follow-Up in May AlsoExpected.The RBA is now expected to hike rates 25bp in both March and May; this is a change from our previous view of a single hike in May with further hikes as a risk only. The expected peak cash rate is now 4.35%.

More economists expect RBA to raise rates next week.A growing number of economists, including from Westpac, National Australia Bank and Deutsche Bank, ​on Wednesday tipped Australia's central bank to raise interest rates ‌next week, following an inflation warning from a senior official a day earlier.

Japan import costs surge on weak Yen, fastest since July 2024.Japan's producer inflation moderated in February, offering some relief on the domestic cost front even as import prices surged. Producer Price Index rose 2.0% yoy, slowing from January's 2.3% pace and coming in slightly below market expectations of 2.1%.

Shares steady, oil turbulence deepens as Middle East war roils markets.Shares steadied on Wednesday following a brief retreat in oil prices, but ​markets remained anxious as contradictory signals from the U.S.-Israeli war on Iran left investors struggling to gauge its impact on global inflation and growth.

ECB's Lagarde says too much uncertainty to predict March rate decision.ECB President Christine Lagarde signaled that policymakers will remain vigilant against inflation risks stemming from the Iran war while avoiding hasty decisions in the face of heightened uncertainty. In an interview with France2, Lagarde said the ECB will ensure the conflict does not trigger the kind of inflation shock the Eurozone experienced after Russia's invasion of Ukraine.