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LYB stock: Sharp bounce off multi-year lows, this level is the one to watch
LyondellBasell Industries (NYSE: LYB), one of the world's largest plastics, chemicals, and refining companies, has had a brutal couple of years.
GBP: Hawkish BoE repricing underpins Pound – MUFG
MUFG highlights that United Kingdom (UK) rate expectations have flipped from cuts to a possible hike as the energy shock lifts inflation risks, supporting recent Pound Sterling (GBP) outperformance versus European peers.
Colombia Retail Sales (YoY) below forecasts (10.1%) in January: Actual (7.8%)
Colombia Retail Sales (YoY) below forecasts (10.1%) in January: Actual (7.8%)
Riksbank: War risk keeps policy on hold – Nordea
Nordea economists Kjetil Olsen and Sara Midtgaard expect the Sweden's central bank, Riksbank to leave its policy rate at 1.75% on 19 March and through 2026, as inflation forecasts are only modestly revised and uncertainty over energy prices is high.
Oil: Red Sea chokepoints reshape Saudi export risks – TD Securities
TD Securities’ Senior Commodity Strategist Ryan McKay analyzes how disruptions around the Strait of Hormuz and Bab El-Mandeb are reshaping Saudi crude export risks and bypass capacity, with implications for Oil supply tightness.
CAD: BoC seen looking through Oil spike – NBC
National Bank of Canada (NBC) economists Matthieu Arseneau and Alexandra Ducharme say Canada’s latest CPI print shows inflation under control before the recent rise in Oil prices. Headline and core measures are both below 2.0%, with shelter inflation moderating.
Energy: Base case shifts to higher prices – ING
ING’s Warren Patterson revises the base case for global Energy markets, abandoning an earlier assumption of a quick two-week disruption in the Strait of Hormuz.
Canada: Core inflation easing but supply risks persist – RBC
Royal Bank of Canada (RBC) Senior Economist Claire Fan notes that Canadian headline inflation slowed to 1.8% in February, but base effects from last year’s GST/HST holiday and the removal of the consumer carbon tax distort comparisons.
CHF: Intervention risk and safe-haven role – Rabobank
Rabobank’s Senior FX Strategist Jane Foley argues that while the Swiss Franc meets many safe-haven criteria, its strength remains problematic for the SNB given very low inflation and a zero policy rate.
United States NAHB Housing Market Index came in at 38, above forecasts (37) in March
United States NAHB Housing Market Index came in at 38, above forecasts (37) in March
USD/CAD slips as Canada CPI eases ahead of the BoC interest rate decision
USD/CAD trades on the back foot on Monday as the Canadian Dollar (CAD) draws support from a softer US Dollar (USD), while traders show a muted reaction to the latest Canadian inflation data as attention remains firmly focused on heightened geopolitical tensions surrounding the ongoing US-Iran war.
USD: Correlations shift with Oil and equities – BNY
BNY’s Head of Markets Macro Strategy Bob Savage underlines a notable break in traditional correlations between the Dollar, Oil and equities as investors navigate the Iran conflict and central bank meetings.
EUR/USD: Energy shock keeps pair under pressure – MUFG
MUFG analysts maintain a short EUR/USD stance, arguing that the Euro faces a larger negative terms-of-trade shock from higher Oil and natural gas prices.
US Industrial Production increased 0.2% in February
The United States (US) Industrial Production rose 0.2% MoM in February versus the 0.7% advance from January. At the same time, Capacity Utilization stood at 76.3%, matching the revised figure from January, according to a Federal Reserve (Fed) report.
Copper: Visible stocks signal looming crunch – TD Securities
TD Securities’ Daniel Ghali warns Copper will increasingly need to draw from exchange warehouses as global deficits bite.
Euro area: Industrial recovery delayed by sector shocks – Societe Generale
Societe Generale economists note Euro area industrial production fell sharply in January despite improving PMIs and German orders.
United States Industrial Production (MoM) registered at 0.2% above expectations (0.1%) in February
United States Industrial Production (MoM) registered at 0.2% above expectations (0.1%) in February
United States Capacity Utilization above expectations (76.2%) in February: Actual (76.3%)
United States Capacity Utilization above expectations (76.2%) in February: Actual (76.3%)
USD: Tactical haven support but structural headwinds – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad notes the Dollar is tactically supported by haven demand linked to shipping risks in the Strait of Hormuz, even as the bank stays cyclically neutral on USD.
ECB: Hawkish hold as oil shock assessed – Societe Generale
Societe Generale economists expect the ECB to keep policy unchanged this week while sounding hawkish as it evaluates the recent Oil price surge.
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