Crude Oil –05.03.2026.  Oil opened with a gap after U.S. and Israel's treacherous attack on Iran while the Iranian Revolutionary Guard announced the closing of Hormuz. Such disruptions could cause more spikes on Oil prices which could lead for a further advance.

Chart alert: DAX's dead cat bounce may have ended, watch 24,000 downside trigger.European equities remain under pressure after a sharp selloff, with the DAX attempting a brief rebound that may prove to be a “dead cat bounce.” Rising geopolitical risks from the US–Iran conflict and energy supply concerns continue to weigh on sentiment.

UK firms' wage growth expectations stick near four-year low in February, BoE Survey shows.British employers' expectations for ​wage growth held at ‌their joint-lowest in nearly four years in ​February, according ​to a survey published by ⁠the Bank ​of England, which is ​looking out for further signs of a slowdown ​in pay pressure ​before it next cuts interest ‌rates.

US futures bounce back up again, dollar pares gains on the day too.The volatile trading continues on the week and it's tough to hold any intraday convictions. S&P 500 futures were down by as much as 0.5% earlier on but have now climbed back up to pare losses to be up 0.1% on the day.

Iran is ready to abandon its nuclear program if the US makes a satisfactory offer.Sky News Arabia reported that Iran's Deputy Foreign Minister said "Iran is ready to abandon its nuclear program on condition that the United States presents a satisfactory alternative offer".

Italy Retail Sales s.a. (MoM) came in at 0.6%, above expectations (0.2%) in January.Italy Retail Sales s.a. (MoM) came in at 0.6%, above expectations (0.2%) in January

Italy Retail Sales n.s.a (YoY) up to 2.3% in January from previous 0.9%.Italy Retail Sales n.s.a (YoY) up to 2.3% in January from previous 0.9%

Italy Retail Sales s.a. (MoM) below expectations (0.2%) in January: Actual (-0.8%).Italy Retail Sales s.a. (MoM) below expectations (0.2%) in January: Actual (-0.8%)

Switzerland Unemployment Rate s.a (MoM) increased to 3% in February from previous 2.9%.Switzerland Unemployment Rate s.a (MoM) increased to 3% in February from previous 2.9%

Spain Industrial Output Cal Adjusted (YoY) registered at 0.3%, below expectations (1.7%) in January.Spain Industrial Output Cal Adjusted (YoY) registered at 0.3%, below expectations (1.7%) in January

France Industrial Output (MoM) in line with expectations (0.5%) in January.France Industrial Output (MoM) in line with expectations (0.5%) in January

Senate Rejects Limits on Trump's Iran Actions.February flash inflation. Our forecast shows CPIF excluding energy at 1.41%, CPIF at 1.75%, and CPI at 0.52% y/y.

European gas: Upside risks build on Russian supply threat – ING.European gas: Upside risks build on Russian supply threat – ING

IMF's Kenya mission ends, talks to continue at Spring Meetings.The International ‌Monetary Fund completed a staff mission to Kenya and said that discussions with ​the East African country's authorities would ​continue at the upcoming IMF-World Bank ⁠Spring Meetings.

Chart alert: WTI crude oil bullish breakout above $78.10/barrel in play.WTI crude oil has rallied nearly 19% since late February, breaking a long-term downtrend and reaching a 14-month high near $78. Escalating geopolitical tensions involving the United States, Israel, and Iran, alongside fears of disruption at the Strait of Hormuz, have amplified supply risks.

US Dollar Index gathers strength to near 99.00 on Middle East tensions, robust US services data.US Dollar Index gathers strength to near 99.00 on Middle East tensions, robust US services data

Exclusive: Euro zone banks face multiple threats from Iran war, ECB supervisor says.Euro zone banks face only a limited direct impact from ​the war in Iran, but the larger danger lies in how a weakened economy might ‌feed back into lenders' balance sheets, a senior European Central Bank supervisor told Reuters.

EUR/JPY Price Forecast: Softens below 182.50, retains bullish bias above 100-day EMA.EUR/JPY Price Forecast: Softens below 182.50, retains bullish bias above 100-day EMA

Singapore Retail Sales (YoY): -0.4% (January) vs previous 2.7%.Singapore Retail Sales (YoY): -0.4% (January) vs previous 2.7%

Singapore Retail Sales (MoM) climbed from previous -5.4% to 6.1% in January.Singapore Retail Sales (MoM) climbed from previous -5.4% to 6.1% in January

Is this a hint that the US-Iran conflict might stretch on for much longer?.The main issue that market players are struggling to grasp right now is the relative uncertainty with regards to the duration of the US-Iran conflict. That mainly affects the energy security in the region, especially with regards to the Strait of Hormuz and threats to other oil and gas facilities in Gulf nations.

Rupee rebounds from all-time low, gains 48 paise to 91.57 against US dollar in early trade.The Indian Rupee has recovered from its record low, gaining 48 paise to trade at 91.57 against the US dollar. This recovery follows positive momentum in domestic equity markets.

China further outlines five-year plan, says to implement more proactive macro policies.All of this builds on the earlier announcement here. There is a lot more to it but these are arguably the more relevant points for markets to take note of.

RBI sold dollars heavily before local spot market open, traders say.The Reserve Bank of India likely intervened in the foreign exchange market on Thursday, selling dollars to support the rupee after it hit a record low. Traders observed a sharp rally in the rupee just before the local market opened, with state-run banks reportedly acting on behalf of the RBI to shore up the currency against the dollar.

No inflation shock to come from US-Iran conflict - Danske.It's only been a little over three trading days but markets are evidently fearful of inflation pressures returning to major economies. Even if not fully reflected in central bank pricing, in which the needle has definitely moved, then at least take caution from the bond market.

Pound Sterling underperforms as UK faces stagflation risks amid Middle East war.Pound Sterling underperforms as UK faces stagflation risks amid Middle East war

Japanese Yen edges higher above 156.50 as Middle East conflict fuels safe-haven demand.Japanese Yen edges higher above 156.50 as Middle East conflict fuels safe-haven demand

WTI Crude Oil Rally Gains Steam, Traders Eye Fresh Highs.Looking at the 4-hour chart of XTI/USD, the price cleared the $75.00 resistance, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). The price even spiked above $77.50.

China's new growth target reflects strategic economic transition.Chinese Premier Li Qiang unveiled Beijing's economic priorities for the year during the annual government work report at the National People's Congress, setting the country's GDP growth target at 4.5% to 5%. The range represents a slight step down from the “around 5%” goal used in the past three years.

IMF's Georgieva: Global economic resilience being tested yet again by new Middle East conflict.IMF's Georgieva: Global economic resilience being tested yet again by new Middle East conflict