US strikes on targets at Iran’s Kharg Island have raised fears of a wider escalationChina says economy off to solid start but demand remains weakTrump is weighing a seizure of Iran's critical oil depot on Kharg IslandChina industrial output beats forecasts as property slump deepensStrait of Hormuz ship traffic collapses to zero amid conflict, energy corridor shutsChinese house price slump continues: -3.2% y/y in February (-3.1% prior)PBOC sets USD/ CNY reference rate for today at 6.9057 (vs. estimate at 6.9061)Global equity funds see largest outflows since DecemberJapan warns ready to take decisive action on FX - ramps up verbal intervention on yenOil lower to fill gap as Trump presses allies for Hormuz helpReserve Bank of New Zealand (RBNZ) says U.S. tariffs may ease inflation short termTrump on his knees. Begging for help from China, EU, UK, NATO on Hormuz.EU weighs naval response as Trump's Strait of Hormuz disruption surges oil pricesFrench President Emmanuel Macron spoke direct with Iranian President Masoud PezeshkianU.S. and China hold talks ahead of Trump–Xi talks. Talk, talk, talk .... rinse, repeat.U.S. oil executives warn Trump energy crisis could worsen. Oil futures higher at the open.New Zealand electronic card retail spending rose in February from the previous monthNew Zealand services sector falls back into contraction in FebruaryTaiwan reports surge in Chinese military aircraft after unusual lull. China needling TrumpThere is a BIG BUT on this: US preparing multinational naval escorts for Strait of HormuzIndia is kicking Trump's ass on Iran war, getting tankers through Strait of HormuzWeekend co-ordinated FX intervention warning - Japan, South Korea firm on FX volatilityMonday open indicative forex prices, 16 March 2026Trump ask China and others for help in opening Strait of HormuzAt a glance:Oil prices slipped Monday, paring early gap higher gains as markets assessed efforts to secure the Strait of Hormuz.Trump pressed allies including NATO members and China to help reopen the key energy corridor.The U.S. struck Iranian military targets on Kharg Island over the weekend, prompting threats of retaliation from Tehran.Japan and Australia signalled they will not send naval vessels to the region despite U.S. requests.Energy infrastructure incidents were reported in the UAE, including a drone strike near Fujairah and a fuel depot fire near Dubai airport.The dollar softened slightly at the start of the week, while FX markets remained volatile.USD/JPY traded choppily after Japan warned it is prepared to take decisive steps on currency volatility.Oil prices eased on Monday, trimming early gap up gains as markets assessed geopolitical developments and diplomatic efforts aimed at restoring shipping through the Strait of Hormuz, a critical conduit for global oil and gas flows.U.S. President Donald Trump said Washington is pressing other countries to help safeguard the strait and is currently in discussions with several nations about policing the waterway. The remarks came after Trump urged NATO allies and major energy importers, including China, to participate in U.S.-led efforts to reopen the corridor.Trump said the United States remains in contact with Iran but expressed scepticism that Tehran is ready for meaningful negotiations. Iranian officials have pushed back strongly on that claim. Iran’s foreign minister told CBS there was little reason to engage in talks with Washington after the United States attacked Iranian targets while negotiations were still ongoing.The conflict intensified over the weekend after the United States struck Iranian military infrastructure on Kharg Island. Trump later warned that additional strikes could target the island’s oil export facilities if attacks on shipping in the Strait of Hormuz continue. Kharg Island handles roughly 90% of Iran’s crude exports, making it a highly sensitive energy asset.Tehran responded with threats of retaliation, warning it could target ports and other facilities in the region that it believes were used to support the strikes. The United Arab Emirates rejected those accusations, saying they reflected a “confused policy” and reaffirming its commitment to restraint.Several incidents affecting regional energy infrastructure were also reported. A fire briefly halted operations at a major oil storage facility in Fujairah after what authorities said was an intercepted drone strike. Operations have since resumed. Separately, a fuel depot near Dubai International Airport was struck overnight, prompting a temporary suspension of flights before the situation was brought under control with no injuries reported.Meanwhile, international support for U.S. efforts to secure the strait appeared mixed. Japan’s Prime Minister Sanae Takaichi said Tokyo currently has no plans to send naval vessels to the Middle East, though Japan will participate in coordinated releases of strategic oil reserves as part of an International Energy Agency initiative to stabilise markets. Australia also said it would not deploy naval ships to the area. Separately, U.S. President Donald Trump is reportedly seeking to assemble a multinational naval coalition to help reopen shipping through the Strait of Hormuz, according to people familiar with the discussions cited by Axios.In currencies, the U.S. dollar softened slightly at the start of the week. EUR/USD rebounded from around a seven-month low, while USD/JPY traded choppily after Japanese Finance Minister Satsuki Katayama warned authorities are prepared to take decisive steps if foreign-exchange volatility intensifies.The Australian and New Zealand dollars recovered modestly from earlier losses ahead of the Reserve Bank of Australia policy meeting on Tuesday, where markets widely expect another rate hike. In data releases, China’s latest activity showed industrial output, retail sales and fixed-asset investment all beating expectations, but the property sector remained firmly in contraction. The ongoing housing slump continues to weigh heavily on consumer confidence, with new home prices falling for a 33rd straight month and second-hand home prices declining for a 34th consecutive month. This article was written by Eamonn Sheridan at investinglive.com.

U.S. strikes on military targets at Iran’s Kharg Island have raised fears of a wider escalation that could threaten global oil supplies.Summary:The U.S. struck Iranian military facilities on Kharg Island.Trump said oil infrastructure was deliberately spared.Kharg Island handles about 90% of Iran’s crude exports.Analysts say a direct strike could halt most of Iran’s oil shipments.Tehran could retaliate by targeting energy assets elsewhere in the Gulf.Iran has limited alternative export routes via the Goreh-to-Jask pipeline.Oil prices rose above $100 per barrel amid supply concerns.Trump is weighing a seizure of Iran's critical oil depot on Kharg IslandU.S. strikes on Iranian military facilities on Kharg Island have pushed one of the country’s most strategically important oil hubs into the center of the escalating conflict between Washington and Tehran.According to reporting by CNBC, U.S. President Donald Trump ordered strikes on military assets located on the island late Friday, while deliberately avoiding oil infrastructure.Trump described the operation as a warning to Iran, signalling that Washington could expand its targets if attacks on commercial shipping in the Strait of Hormuz continue.Kharg Island is one of Iran’s most critical economic assets. The small coral island in the northern Persian Gulf, located roughly 15 miles off Iran’s mainland coast, handles about 90% of the country’s crude oil exports and has a loading capacity of around 7 million barrels per day.Because of its central role in Iran’s energy trade, analysts view the facility as both a strategic pressure point for the United States and a potential flashpoint for broader escalation.Energy analysts say a direct attack on Kharg’s export infrastructure could severely disrupt Iranian oil shipments. Data cited by JPMorgan suggests such a strike could immediately halt most of the country’s roughly 1.5 million barrels per day in crude exports.Experts warn the economic consequences for Iran could be severe.Vandana Hari, founder of Vanda Insights, said the strikes on military installations appeared designed to send a signal to Tehran that its oil infrastructure could be targeted next if maritime attacks persist.However, analysts also caution that a direct strike on Kharg’s export terminals could trigger retaliatory attacks across the region.Edward Fishman of the Council on Foreign Relations said Iran could respond by targeting major energy facilities elsewhere in the Gulf, including Saudi Arabia’s massive Abqaiq oil processing complex.Iran does possess limited alternative export routes. One option is the Goreh-to-Jask pipeline, which bypasses both Kharg Island and the Strait of Hormuz and can transport roughly 1.5 million barrels per day.Still, analysts say the pipeline would not fully offset the loss of Kharg’s export capacity.Markets are already responding to the rising geopolitical risks. Brent crude prices climbed above $100 per barrel, reflecting growing concern about potential disruptions to global oil supply.Some analysts argue the conflict is accelerating a broader shift in energy markets, with geopolitical risk increasingly embedded in commodity pricing. This article was written by Eamonn Sheridan at investinglive.com.

Summary:China’s statistics bureau said the economy has made a “sound start” to 2026.Industrial output and retail sales beat expectations earlier in the day.Officials cited technological innovation and AI as supporting growth.Authorities warned the economy still faces “strong supply, weak demand.”Consumption is expected to rise as policy support measures take effect.The government may need additional steps to strengthen demand.China said its energy supply capacity is sufficient despite global volatility.Chinese officials said the economy has started the year on a relatively solid footing but acknowledged that weak domestic demand remains a key challenge despite stronger industrial activity.Speaking after the release of China’s latest economic data, a spokesperson for the National Bureau of Statistics said the economy had made a “sound start” to 2026, supported by what officials described as the development of “new productive forces,” including technological innovation and advances in artificial intelligence.The remarks followed data showing industrial output rose 6.3% year-on-year in January–February, beating market expectations for a 5.0% increase. Retail sales also exceeded forecasts, rising 2.8% compared with expectations of 2.5%.Despite the better-than-expected headline figures, officials cautioned that China’s economic recovery remains uneven.The statistics bureau said the economy still faces the challenge of “strong supply but weak demand,” reflecting subdued household spending and lingering caution among businesses.Authorities expect consumer activity to gradually strengthen over the course of the year as policy support measures begin to take effect. Officials said government initiatives aimed at boosting household incomes and supporting consumption should help improve the overall price environment.However, the spokesperson acknowledged that further policy support may still be required to fully revive domestic demand.China’s leadership has increasingly emphasised consumption as a key driver of economic growth, particularly as the country’s property sector continues to struggle and global trade conditions remain uncertain.The statistics bureau also addressed concerns about energy markets amid global volatility linked to geopolitical tensions.Officials said China’s energy supply capacity remains sufficient to cope with fluctuations in global prices, suggesting policymakers are confident the country can manage potential disruptions in international energy markets.Overall, authorities said they expect the economy to maintain a broadly steady growth trend through the remainder of the year.The comments underline Beijing’s effort to balance a cautiously optimistic tone following stronger industrial data while acknowledging structural challenges tied to weak domestic demand and the ongoing property sector downturn. This article was written by Eamonn Sheridan at investinglive.com.

Trump is pushing to form an international naval coalition to reopen the Strait of Hormuz while weighing a potential seizure of Iran’s Kharg Island oil hub.Summary:Trump is working to assemble a multinational coalition to reopen the Strait of Hormuz.The White House hopes to announce the coalition later this week.Washington has been urging allies to send ships to secure the shipping route.The strait carries roughly 20% of global oil and LNG supply.U.S. officials say Trump is also considering seizing Iran’s Kharg Island oil hub.Such an operation would require U.S. ground forces.The option is being considered if tankers remain trapped in the Gulf.U.S. President Donald Trump is working to assemble a multinational naval coalition aimed at reopening shipping through the Strait of Hormuz, according to people familiar with the discussions.Sources cited by Axios said the White House hopes to announce the coalition later this week as Washington scrambles to restore maritime traffic through the key energy corridor, which has been heavily disrupted by the ongoing conflict with Iran.The Strait of Hormuz is one of the most strategically important waterways in global energy markets, carrying roughly one-fifth of the world’s oil and liquefied natural gas shipments. Shipping activity through the route has collapsed in recent days amid attacks on vessels and escalating military tensions in the region.Trump has been pressing allies and other major economies to contribute naval assets to help secure the passage and escort commercial vessels through the strait.The U.S. president has argued that countries benefiting from the corridor should participate in protecting it, and has publicly urged partners including European allies and Asian energy importers to join the effort.At the same time, U.S. officials say the administration is weighing a far more aggressive contingency plan if shipping disruptions persist.According to Axios, Trump is considering the possibility of seizing Iran’s Kharg Island oil export hub, a move that would require deploying U.S. ground forces.(Bolding mine ... boots on the ground would be a huge escalation). Kharg Island is the primary terminal for Iranian crude exports and plays a central role in the country’s oil infrastructure. A military operation targeting the facility would represent a major escalation in the conflict and could significantly alter global energy supply dynamics.Officials say the option is being considered in the event that tankers remain trapped in the Persian Gulf and international efforts fail to reopen the Strait of Hormuz.The discussions highlight the mounting urgency in Washington as policymakers attempt to stabilise global energy markets and prevent prolonged disruption to oil flows from the Gulf.However, any move to seize Iranian energy infrastructure would likely carry significant geopolitical risks and could further escalate tensions across the region. This article was written by Eamonn Sheridan at investinglive.com.

China’s industrial output, retail sales and investment beat expectations early in 2026, but the property sector remained deeply in contraction.Summary:China’s industrial output rose 6.3% y/y, beating forecasts of 5.0% and accelerating from December’s 5.2%.Retail sales increased 2.8% y/y, above the 2.5% forecast and up from December’s 0.9%.Fixed-asset investment rose 1.8% y/y versus expectations for a 2.1% decline.Infrastructure investment surged 11.4% y/y.Private-sector investment fell 2.6% y/y.Property investment dropped 11.1% y/y after a 17.2% decline in 2025.Property sales fell 13.5%, construction starts slid 23.1%, and developer funding dropped 16.5%.China’s economic activity showed mixed momentum at the start of 2026, with industrial production and retail sales beating expectations while the country’s troubled property sector remained under significant pressure.Data released by the National Bureau of Statistics showed industrial output grew 6.3% year-on-year in the January–February period. The result exceeded the 5.0% increase expected in a Reuters poll and accelerated from December’s 5.2% growth, suggesting manufacturing activity strengthened early in the year.Retail sales, a key gauge of consumer demand, rose 2.8% from a year earlier. That also topped forecasts of 2.5% and represented a notable improvement from December’s 0.9% increase, indicating some stabilisation in household spending.Investment data also surprised on the upside. Fixed-asset investment rose 1.8% year-on-year in the first two months of 2026, defying expectations for a 2.1% decline. The result marks a rebound after investment contracted 3.8% in 2025.Infrastructure spending remained a major driver of investment, rising 11.4% from a year earlier. However, private-sector investment continued to weaken, falling 2.6% year-on-year and underscoring lingering caution among businesses.Despite the stronger headline activity data, the property sector remains a major drag on China’s economy.Property investment fell 11.1% year-on-year in the January–February period, according to official figures, extending the sector’s prolonged downturn. The decline follows a sharp 17.2% contraction recorded in 2025.Housing demand also remained weak. Property sales measured by floor area dropped 13.5% compared with the same period a year earlier, a steeper fall than the 8.7% decline recorded in 2025.Construction activity continued to deteriorate as well. New housing starts plunged 23.1% year-on-year, worsening from a 20.4% drop last year.Funding conditions for developers remain tight. Funds raised by real estate firms fell 16.5% during the period after declining 13.4% in 2025.The latest data highlights the uneven nature of China’s economic recovery, with industrial production and infrastructure investment providing support while the property sector continues to weigh heavily on growth. This article was written by Eamonn Sheridan at investinglive.com.

Shipping through the Strait of Hormuz has halted for the first time since the conflict began, underscoring the scale of disruption to a key global energy corridor.Summary:Ship traffic through the Strait of Hormuz dropped to zero on Saturday.The shutdown marks the first halt in transits since the war began on February 28.AIS data from Windward showed no confirmed vessel crossings.Normally about 77 ships pass through the strait each day.Traffic had already fallen sharply during the conflict’s second week.The corridor carries about 20% of global oil and gas shipments.Energy markets are closely watching whether shipping resumes.Shipping traffic through the Strait of Hormuz has effectively come to a halt for the first time since the conflict involving Iran escalated late last month, highlighting the severe disruption to one of the world’s most important energy corridors.Data from maritime analytics firm Windward showed that no vessels were recorded transiting the strait on Saturday, marking the first day since the war began on February 28 that ship movements fell to zero.The figures are based on automatic identification system (AIS) signals transmitted by vessels, which normally allow shipping activity to be tracked in real time. According to Windward’s analysis, no AIS signals confirmed ships passing through the narrow waterway during the period.Under normal conditions, the Strait of Hormuz is among the busiest energy transit routes in the world. The corridor connects the Persian Gulf to global markets and carries roughly one-fifth of global oil and liquefied natural gas shipments.On average, around 77 vessels typically cross the strait each day.However, traffic began to decline sharply following the outbreak of hostilities between Iran and the United States and Israel. By the second week of the conflict, daily crossings had already fallen dramatically, averaging just 2.7 ships per day.The collapse in shipping activity underscores the extent to which escalating security risks have disrupted maritime trade in the region. Attacks on vessels and rising military tensions have led many shipping companies and insurers to avoid the route altogether.The near-total shutdown of traffic through the strait has intensified concerns in global energy markets, as prolonged disruption could restrict access to a critical supply channel for crude oil and liquefied natural gas.The Strait of Hormuz is a key export route for major Gulf energy producers including Saudi Arabia, the United Arab Emirates, Kuwait and Iraq.Any sustained interruption to flows through the waterway could tighten global energy supplies and amplify volatility in oil markets, which have already surged in response to the conflict.Traders and policymakers are now closely monitoring whether international efforts to secure the corridor can restore shipping activity in the coming days. Trump is scrambling:Trump on his knees. Begging for help from China, EU, UK, NATO on Hormuz.Oil lower to fill gap as Trump presses allies for Hormuz help This article was written by Eamonn Sheridan at investinglive.com.

China New Home Prices February 2026-0.28% m/m (prior -0.37%)-3.2% y/y (prior -3.1%Used Home Prices-0.43% m/m (prior –0.54%)Still to come: This article was written by Eamonn Sheridan at investinglive.com.

The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. PBOC injects 137.3bn yuan in 7-day reverse repos at 1.4% (unchanged) in open market operations This article was written by Eamonn Sheridan at investinglive.com.

Global equity funds recorded their biggest outflows in months as oil supply fears and geopolitical tensions drove investors toward safer assets. Reuters had the round up. Summary:Global equity funds saw $7.05 billion in outflows during the week to March 11.The withdrawals were the largest since mid-December 2025.Rising oil prices and supply disruptions in the Strait of Hormuz weighed on sentiment.U.S. and European equity funds recorded the biggest withdrawals.Asian equity funds attracted inflows despite global volatility.Investors shifted toward safer assets such as money market and short-term bond funds.Emerging markets also saw renewed selling pressure.Global equity funds recorded their largest weekly outflows in nearly three months as investors reacted to rising geopolitical risks and surging oil prices linked to the ongoing conflict involving the United States, Israel and Iran.Data from LSEG Lipper showed that investors withdrew approximately $7.05 billion from global equity funds during the week ending March 11. The outflows marked the largest weekly withdrawal since mid-December 2025, when funds saw a far larger $46.68 billion exit.The shift in investor sentiment comes as energy markets face severe disruption following attacks on shipping routes in the Persian Gulf and around the Strait of Hormuz. The strategic corridor handles roughly one-fifth of global oil supplies, and disruptions to traffic there have triggered fears of sustained supply shortages.Oil markets reacted sharply to the uncertainty, with Brent crude climbing well above $100 per barrel as traders grappled with what some market participants described as one of the most significant disruptions to global oil flows in recent history.Rising energy prices have intensified concerns about inflation and the potential impact on global economic growth, prompting investors to trim exposure to risk assets.The data showed particularly strong outflows from U.S. and European equity funds. U.S. equity funds saw net withdrawals of roughly $7.77 billion, while European funds experienced $7.71 billion in outflows. In contrast, Asian equity funds attracted inflows of about $6.15 billion, suggesting some investors are selectively reallocating toward the region.Sector-level flows also reflected a defensive shift. Financial and healthcare equity funds experienced the largest withdrawals, with net sales of $2.31 billion and $1.31 billion respectively. Industrial sector funds, however, saw inflows of around $1.31 billion.Meanwhile, global bond fund inflows slowed significantly. Net purchases totaled about $5.72 billion, the smallest weekly inflow in ten weeks. High-yield bond funds suffered outflows of $3.17 billion, the largest since April 2025, as investors reduced exposure to riskier credit.Short-term bond funds attracted strong demand, recording $5.75 billion in inflows as investors sought safer assets.Money market funds also saw continued inflows, drawing $6.93 billion during the week and extending a seven-week streak of net purchases.Despite the broader flight to safety, commodity flows were mixed. Investors withdrew $2.84 billion from gold and precious-metals funds, marking the third weekly outflow in four weeks. Emerging markets were also affected by the risk-off shift, with equity funds seeing $2.69 billion in withdrawals, ending an 11-week streak of net inflows. Train wreck. This article was written by Eamonn Sheridan at investinglive.com.

Japan warned it is ready to take decisive action on currency volatility as authorities intensify monitoring of foreign exchange markets.Summary:Japan’s finance minister warned that FX markets are “extremely volatile.”Tokyo declined to comment on specific currency levels.Authorities said they are prepared to take “decisive steps” if needed.The comments follow Japan–South Korea talks over the weekend expressing concern about currency weakness.Policymakers are closely monitoring foreign exchange markets.Intervention risk may increase if volatility accelerates.Japan’s finance minister has reiterated that authorities stand ready to act against excessive currency volatility, underscoring Tokyo’s growing concern about instability in foreign exchange markets.Speaking to reporters, Satsuki Katayama declined to comment on specific exchange-rate levels but acknowledged that financial markets, including foreign exchange, have become highly volatile.Katayama said the government remains prepared to respond if market moves become disorderly.“We are prepared to take decisive steps on foreign exchange if necessary,” she said.The comments come shortly after Japan and South Korea jointly expressed concern over sharp declines in their currencies during talks over the weekend. At that meeting, Katayama and South Korea’s finance minister warned that both governments were closely monitoring currency markets and were prepared to act against excessive volatility.The renewed remarks from Tokyo reinforce that message and highlight the authorities’ heightened sensitivity to recent moves in the yen.The Japanese currency has come under pressure in recent weeks amid strong demand for the U.S. dollar linked to global geopolitical tensions and rising energy prices. The yen’s weakness has pushed it toward levels that market participants often associate with potential intervention risk from Japanese authorities.Japanese policymakers have historically avoided commenting directly on specific currency levels, instead emphasising concerns about rapid or disorderly movements.Such language is widely interpreted by markets as a signal that officials are becoming increasingly uncomfortable with recent exchange-rate dynamics.While Katayama stopped short of signalling immediate action, the reference to “decisive steps” echoes language used by Japanese officials ahead of past interventions.Authorities in Tokyo have intervened in currency markets several times in recent decades when sharp yen depreciation threatened economic stability or triggered excessive volatility.For now, the government appears to be focusing on verbal warnings while monitoring developments in global financial markets.Investors will be watching closely for any signs that Japan could move beyond rhetoric and intervene directly if currency moves accelerate. This article was written by Eamonn Sheridan at investinglive.com.

The People’s Bank of China is due to set the daily USD/CNY reference rate at around 0115 GMT (2115 US Eastern time), a fixing that remains one of the most closely watched signals in Asian foreign exchange markets. China operates a managed floating exchange rate system, under which the renminbi (yuan) is allowed to trade within a prescribed band around a central reference rate, or midpoint, set each trading day by the PBOC. The current trading band permits the currency to move plus or minus 2% from the official midpoint during onshore trading hours. Each morning, the PBOC determines the midpoint based on a range of inputs. These include the previous day’s closing price, movements in major currencies, particularly the US dollar, broader international FX conditions, and domestic economic considerations such as capital flows, growth momentum and financial stability objectives. The midpoint is not a purely mechanical calculation, allowing policymakers discretion to guide market expectations. Once the midpoint is announced, onshore USD/CNY is free to trade within the allowable band. If market pressures push the yuan toward either edge of that range, the central bank may step in to smooth volatility. Intervention can take the form of direct buying or selling of yuan, adjustments to liquidity conditions, or guidance through state-owned banks. As a result, the daily fixing is often interpreted as a policy signal rather than just a technical reference point. A stronger-than-expected CNY midpoint is typically read as a sign the PBOC is leaning against depreciation pressure, while a weaker fixing for the CNY can indicate tolerance for a softer currency, often in response to dollar strength or domestic economic headwinds.In periods of heightened global volatility, such as shifts in US rate expectations, trade tensions or capital flow pressures, the fixing takes on added significance. For investors, it provides insight into Beijing’s currency priorities, balancing competitiveness, capital stability and financial market confidence. This article was written by Eamonn Sheridan at investinglive.com.

Trump says the U.S. is striking Iranian drone sites and seeking international help to secure the Strait of Hormuz, though details of any coalition remain uncertain.Summary:Trump said Iran wants negotiations but is not yet ready to engage.The U.S. claims it is striking Iranian drone manufacturing facilities.Washington is discussing Hormuz security arrangements with seven countries.Trump is urging other nations to help protect the strategic shipping route.Israel is working with the U.S. on efforts to secure the strait.Details of any multinational naval mission remain unclear.Oil futures edged lower after initially opening higher as traders assessed the situation.U.S. President Donald Trump said Washington is continuing military operations against Iranian drone production while seeking international support to secure the Strait of Hormuz, though concrete details about any multinational effort remain unclear.Speaking about the ongoing conflict with Iran, Trump said Tehran is seeking negotiations but suggested talks are unlikely to begin immediately.“They want to negotiate badly, but I don’t think they’re ready,” he said.Trump also said the United States has been targeting drone manufacturing facilities inside Iran as part of its military operations, though he did not provide details about the scale or timing of the strikes.At the same time, the U.S. administration is attempting to assemble an international effort to secure maritime traffic through the Strait of Hormuz, a strategic chokepoint through which roughly one-fifth of global oil and liquefied natural gas shipments normally pass.Trump said the United States is currently discussing security arrangements for the strait with seven countries and is pressing partners to contribute to protecting shipping lanes in the region.Trump on his knees. Begging for help from China, EU, UK, NATO on Hormuz.“We are talking to seven countries about policing the Strait of Hormuz,” Trump said, adding that Washington is demanding greater participation from other nations that rely on the route for energy supplies.He also said Israel is working alongside the United States on efforts aimed at securing the waterway.However, it remains unclear whether a coordinated multinational naval operation is imminent or whether discussions are still at an early stage. In recent days, several U.S. allies have been cautious about committing military assets while the conflict continues and its objectives remain uncertain.There is a BIG BUT on this: US preparing multinational naval escorts for Strait of HormuzEU weighs naval response as Trump's Strait of Hormuz disruption surges oil pricesEnergy markets are watching developments closely, given the central role of the Strait of Hormuz in global oil supply. Crude prices initially surged on geopolitical concerns at the start of the week, but U.S. oil futures eased slightly in early trading as markets moved to close the opening gap higher, suggesting some investors remain cautious about the immediate supply impact.For now, traders appear to be balancing escalating rhetoric and military activity against uncertainty over whether disruptions to shipping will persist or whether diplomatic efforts may eventually reduce tensions. This article was written by Eamonn Sheridan at investinglive.com.

The RBNZ says U.S. tariffs may lower inflation in New Zealand in the near term but could push prices higher later as global supply chains adjust.Summary:The RBNZ says U.S. tariffs could reduce inflation in New Zealand in the near term.Trade diversion and a stronger NZ dollar may lower import prices.Long-term supply chain fragmentation could push inflation higher by around 2030.Weaker global demand may weigh on New Zealand exports.Exporters could face stronger competition in global markets.The overall impact on New Zealand’s GDP is expected to be modest.Exports to the U.S. could initially fall 13% before stabilising over time.The Reserve Bank of New Zealand says U.S. tariff policies could have mixed effects on New Zealand’s economy, easing inflation in the near term while potentially increasing price pressures later in the decade as global supply chains adjust.In a research note published Monday, the central bank said trade disruptions stemming from U.S. tariff measures are likely to exert disinflationary pressure on New Zealand in the short run. The RBNZ said trade diversion and a stronger New Zealand dollar could reduce import costs, helping to dampen inflation and support domestic purchasing power.Tariffs imposed by the United States are expected to redirect some global trade flows away from the American market, which could lower prices for imported goods in other economies, including New Zealand. A firmer currency would amplify that effect by making overseas goods cheaper for domestic buyers.However, the central bank warned that the longer-term consequences of widespread tariffs could eventually prove inflationary. Over time, a shift toward more fragmented and less efficient global supply chains may raise production costs and reduce the efficiency of international trade networks. These structural changes could push inflation higher by around 2030.The research also highlights potential headwinds for New Zealand’s export sector. Weaker U.S. demand for global goods could weigh on economic growth among New Zealand’s key trading partners, reducing demand for its exports.At the same time, exporters may face tougher competition in international markets as other countries redirect goods originally intended for the U.S. toward alternative destinations.Despite these challenges, the RBNZ said the overall impact on New Zealand’s real economic growth is expected to remain relatively modest.Under the bank’s baseline scenario, exports from New Zealand to the United States fall by around 13% in the first year following tariff increases. As global trade patterns gradually adjust, the decline narrows to roughly 6% by 2040.The analysis incorporates tariff measures announced up to July 31, 2025. Last month, U.S. President Donald Trump reinstated a temporary 10% global import duty after earlier tariffs were struck down by the Supreme Court, while launching new investigations that could allow further tariffs to be imposed. ---Next RBNZ decision due April 8: This article was written by Eamonn Sheridan at investinglive.com.

Trump pressed NATO allies and China to help reopen the Strait of Hormuz, warning the alliance faces a bleak future if partners refuse to assist. Earlier, weak stuff this:There is a BIG BUT on this: US preparing multinational naval escorts for Strait of HormuzEU weighs naval response as Trump's Strait of Hormuz disruption surges oil pricesOil industry stating the obvious:U.S. oil executives warn Trump energy crisis could worsen. Oil futures higher at the open.India and France seem to be getting somewhere with direct negotiation rather than all this bluster:India is kicking Trump's ass on Iran war, getting tankers through Strait of HormuzFrench President Emmanuel Macron spoke direct with Iranian President Masoud PezeshkianSummary:Trump urged NATO allies to support U.S. efforts against Iran.He warned the alliance faces a “bad future” if partners refuse to assist.Washington wants allies to help reopen the Strait of Hormuz.Trump said countries benefiting from the shipping route should help secure it.He warned the U.S. could launch new strikes on Iran’s Kharg Island.Trump suggested a planned summit with China’s Xi Jinping could be delayed.He also called on China to help restore shipping through the strait.U.S. President Donald Trump has intensified pressure on European allies to support U.S. military efforts against Iran and help secure shipping through the Strait of Hormuz, warning that the future of NATO could be at risk if partners decline to assist.In comments reported by the Financial Times, Trump said countries that benefit from the strategic waterway should help ensure its security following escalating attacks on vessels and disruptions to global energy flows.The strait is one of the world’s most important energy corridors, handling roughly one-fifth of global oil and liquefied natural gas shipments. Ongoing conflict involving Iran has disrupted shipping and pushed oil prices sharply higher, increasing pressure on Western governments to restore freedom of navigation.Trump said it was “only appropriate” that countries reliant on the route contribute to efforts to protect it.He warned that the North Atlantic Treaty Organization could face a bleak future if allies fail to respond to Washington’s request for assistance.“If there’s no response or if it’s a negative response, I think it will be very bad for the future of NATO,” Trump said.The U.S. president also signalled that further military action against Iran remains a possibility. He warned that Washington could launch additional strikes against Kharg Island, the country’s primary oil export terminal in the Persian Gulf, if necessary.Targeting the facility would have significant implications for global oil markets, as the island plays a central role in Iran’s crude export infrastructure.Trump also suggested that the timeline for a planned summit with Xi Jinping could be delayed as tensions continue to escalate.At the same time, he called on China to play a role in reopening the Strait of Hormuz, arguing that Beijing, one of the world’s largest energy importers, has a direct interest in restoring the flow of shipments through the corridor.“I think China should help too because China gets 90 per cent of its oil from the straits,” Trump said.He also criticised the United Kingdom for declining to join U.S. operations, despite describing it as Washington’s closest and longest-standing ally.Trump claimed U.S. forces had severely degraded Iran’s military capabilities, saying Tehran had effectively lost its navy, air force and air defence systems during the conflict. Although is begging, at least he is trying, which is something I guess. This article was written by Eamonn Sheridan at investinglive.com.

EU foreign ministers will debate reinforcing the bloc’s naval mission as tensions around the Strait of Hormuz threaten global energy supplies.Summary:EU foreign ministers will discuss strengthening the bloc’s Aspides naval mission.Some officials have suggested extending the mission toward the Strait of Hormuz.The waterway carries about 20% of global oil and LNG supplies.Shipping disruptions intensified after U.S. and Israeli strikes on Iran.Ministers are unlikely to approve a Hormuz deployment immediately.Germany’s foreign minister expressed scepticism about expanding the mission.The U.S. is urging allies to send ships to help reopen shipping lanes.European Union foreign ministers are set to discuss strengthening the bloc’s naval presence in the Middle East as tensions around the Strait of Hormuz threaten global energy supplies and push oil prices higher.Officials said the meeting in Brussels on Monday will examine whether the European Union could expand or reinforce its existing maritime mission in the region, known as Operation Aspides. The operation was launched in 2024 to protect international shipping in the Red Sea from attacks by Yemen’s Houthi militants.Some policymakers have floated the possibility that the mission could eventually play a role in safeguarding shipping through the Strait of Hormuz, the critical waterway linking the Persian Gulf with global energy markets. Around one-fifth of the world’s oil and liquefied natural gas flows through the strait.Shipping through the corridor has been heavily disrupted since the United States and Israel began strikes against Iran on February 28, prompting Tehran to threaten closure of the passage and carry out attacks on vessels operating in the area.However, diplomats and officials say ministers are unlikely to make any immediate decision to extend the Aspides mission to the Gulf during Monday’s discussions. Instead, talks are expected to focus on increasing contributions from EU member states to strengthen the mission’s existing operations.Currently, the EU-led force includes an Italian and a Greek warship under direct command, with additional support available from French and Italian naval vessels.Federal Minister for Foreign Affairs of Germany Johann Wadephul confirmed that expanding the mission is under discussion but expressed doubts about its effectiveness.Speaking to German broadcaster ARD, Wadephul said he remained sceptical that extending the operation to the Strait of Hormuz would significantly improve maritime security, arguing that the mission has struggled to fully achieve its current objectives.The debate comes amid mounting pressure from Washington for allies to help secure the crucial energy corridor. Over the weekend, Donald Trump urged several major economies—including the United Kingdom, France, China and Japan—to deploy naval forces to help reopen shipping lanes.Meanwhile, US Energy Sec Chris Wright (Chris Wrong would be more accurate) said the conflict with Iran could end within weeks, although markets remain wary. Brent crude oil prices have surged above $103 per barrel amid fears that prolonged disruption in the Strait of Hormuz could tighten global supply and weigh on economic growth.European governments have also raised concerns about the lack of clarity around Washington’s longer-term strategy in the conflict, with some officials calling for greater transparency about its objectives and timeline. This article was written by Eamonn Sheridan at investinglive.com.

France’s Macron urged Iran to halt regional attacks and restore navigation in the Strait of Hormuz during talks with President Pezeshkian.Summary:French President Emmanuel Macron spoke with Iranian President Masoud Pezeshkian.Macron urged Iran to halt attacks against countries in the region.He called for freedom of navigation to be restored in the Strait of Hormuz.Macron requested the release of detained French nationals Cécile Kohler and Jacques Paris.France said its actions in the region are strictly defensive.Macron called for a new political and security framework for regional stability.He said the framework must prevent Iran from acquiring nuclear weapons and address missile threats.French President Emmanuel Macron said he had spoken directly with Iranian President Masoud Pezeshkian, urging Tehran to halt attacks across the Middle East and help restore stability to regional shipping routes.In a series of posts on X, Macron said he called on Iran to immediately end what he described as “unacceptable attacks” targeting countries across the region, including Lebanon and Iraq, as tensions linked to the ongoing conflict continue to disrupt energy markets and maritime trade.The French leader emphasised that restoring freedom of navigation through the Strait of Hormuz must be a priority. The narrow waterway is a critical artery for global energy supplies, carrying roughly one-fifth of the world’s oil and liquefied natural gas shipments.Recent attacks on shipping and rising geopolitical tensions have raised fears of prolonged disruption to the corridor, prompting international calls for diplomatic solutions to stabilise maritime traffic.In his remarks, Macron said France’s actions in the region remain strictly defensive and are aimed at protecting national interests while supporting broader international security.The French president also called for the establishment of a new political and security framework to address long-term tensions involving Iran and the wider region.According to Macron, any future arrangement must ensure that Iran does not acquire nuclear weapons and must also address concerns about Tehran’s ballistic missile programme and its regional activities.The call reflects growing diplomatic efforts by European powers to push for a broader security framework in the Middle East as global powers seek to prevent further escalation and stabilise energy markets affected by the conflict.Macron said only a comprehensive political approach could provide lasting peace and security for the region and the international community. This article was written by Eamonn Sheridan at investinglive.com.

U.S. and Chinese officials held what 'sources' described as constructive talks in Paris to stabilise trade ties ahead of a planned Trump–Xi summit in Beijing.Summary:U.S. and Chinese officials held “candid and constructive” trade talks in Paris.Discussions focused on stabilising the bilateral trade relationship.China may consider increasing purchases of U.S. agricultural products.U.S. officials pushed for more Chinese imports of Boeing aircraft and energy products.Rare earth supply challenges facing American firms were also discussed.Proposals for managed trade and investment frameworks were explored.Technical negotiations will continue ahead of a planned Trump–Xi summit in Beijing.U.S. and Chinese officials have held what sources described as “candid and constructive” discussions in Paris aimed at stabilising their trade relationship ahead of an expected summit between the leaders of the world’s two largest economies.According to people familiar with the talks, the meeting brought together senior economic officials from both sides to explore ways to reduce tensions and prepare proposals for consideration at a future meeting between Donald Trump and Xi Jinping in Beijing.Participants discussed measures designed to enhance stability in bilateral trade ties, including the possibility of increased Chinese purchases of U.S. agricultural goods. The proposals are being framed as potential confidence-building steps ahead of the leaders’ summit.Officials also examined broader “managed trade” arrangements and investment frameworks that could help structure economic engagement between the two countries and address persistent trade imbalances.During the discussions, U.S. officials raised the prospect of additional Chinese purchases across several sectors. Representatives from Washington reportedly encouraged Beijing to consider expanding imports of American products such as aircraft from Boeing, as well as coal, crude oil and natural gas.The talks also addressed supply chain concerns affecting American businesses operating in China. One issue raised involved difficulties some U.S. companies have faced in securing supplies of rare earth elements, including yttrium, which are critical inputs in a wide range of advanced technologies and industrial applications.The U.S. delegation included Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer, who pressed Chinese counterparts on market access and trade balance issues.Sources said both sides viewed the meeting as a constructive step in ongoing economic dialogue. However, officials acknowledged that many details still need to be worked out before any formal agreements are reached.Technical-level discussions are expected to continue, with negotiators scheduled to meet again on Monday to further develop proposals and address outstanding issues.The renewed engagement comes as Washington and Beijing attempt to stabilise their economic relationship amid broader geopolitical tensions and ongoing disputes over trade, technology and supply chains. This article was written by Eamonn Sheridan at investinglive.com.

U.S. oil executives warned the Trump administration that disruptions to the Strait of Hormuz could worsen the global energy crisis despite policy efforts to stabilise markets.--Earlier, this empty report:There is a BIG BUT on this: US preparing multinational naval escorts for Strait of HormuzSummary:U.S. oil executives warned the Trump administration the energy crisis may worsen. Wall Street Journal (gated) report. Disruptions around the Strait of Hormuz are threatening global energy flows.Oil company CEOs told officials supply volatility could intensify.U.S. crude prices have climbed to around $99 a barrel.Futures opened higher at the start of the new week in Globex trading.The White House is considering easing Russian sanctions and releasing strategic reserves.Industry leaders say reopening the Strait of Hormuz remains the key solution.U.S. oil industry leaders have warned the Trump administration that the global energy crisis triggered by the conflict with Iran is likely to worsen, as disruptions to shipping through the Strait of Hormuz continue to threaten oil supplies and keep markets on edge.According to people familiar with recent discussions in Washington, senior executives from major U.S. energy companies told administration officials that ongoing attacks and instability around the key maritime chokepoint could sustain volatility in global energy markets.Chief executives from Exxon Mobil, Chevron and ConocoPhillips raised their concerns during meetings at the White House and in conversations with Energy Secretary Chris Wright and Interior Secretary Doug Burgum.Executives warned that continued disruptions to shipping through the Strait of Hormuz — the narrow waterway that carries roughly one-fifth of global oil and liquefied natural gas flows — could intensify supply pressures and fuel further price spikes.Darren Woods reportedly cautioned that crude prices could climb even higher if speculative trading accelerates or if refined product shortages begin to emerge. Mike Wirth and Ryan Lance also highlighted the scale of the disruption facing global energy markets.U.S. crude prices have already surged in recent days, rising from around $87 a barrel earlier in the week to roughly $99 by Friday. Early trading in the new week suggested continued upward pressure, with U.S. oil futures opening higher in Globex trading on Sunday evening.In response to the crisis, the administration is weighing several policy options aimed at stabilising energy markets. Officials are considering further easing sanctions on Russian oil exports, potentially increasing oil flows between Venezuela and the United States, and releasing a massive 400 million barrels from emergency strategic reserves.Despite these measures, many energy executives remain sceptical that such steps will meaningfully reduce market pressure if the Strait of Hormuz remains disrupted.Administration officials acknowledge the challenge. One senior official said policymakers expect oil prices to continue rising in the near term, while the Pentagon has indicated that military options exist to reopen the strait. Industry figures warn that prolonged disruptions could push oil prices toward levels that risk damaging the global economy by driving up fuel costs and weakening demand. ---Oil markets are not in steady hands right now ... This article was written by Eamonn Sheridan at investinglive.com.

New Zealand electronic card retail spending rose in February from the previous month.The electronic card data covers around 68% of core retail sales and serves as the country’s primary monthly gauge of retail activity.Earlier:New Zealand services sector falls back into contraction in February This article was written by Eamonn Sheridan at investinglive.com.

New Zealand’s services sector slipped back into contraction in February, signalling a slower-than-expected economic recovery.Summary:New Zealand’s services sector returned to contraction in February.The BNZ–BusinessNZ Performance of Services Index fell to 48.0 from January’s 50.7 level.The reading sits well below the long-run survey average of 52.8.All major sub-indices were in contraction territory.Stocks/inventories and employment recorded the weakest readings.Businesses cited high living costs, interest rates and weak demand as key pressures.Economists say the data suggests the economic recovery is slower than expected.New Zealand’s services sector slipped back into contraction in February, signalling that the country’s economic recovery may be losing momentum after a brief improvement earlier in the year.The latest BNZ – BusinessNZ Performance of Services Index showed the index fell to 48.0 in February, down 2.7 points from January. A reading below 50 indicates contraction in activity, while values above that threshold signal expansion. February’s result was also well below the survey’s long-run average of 52.8.The data marks a reversal after the sector briefly returned to expansion for two months, with the February figure broadly consistent with the contractionary readings seen toward the end of 2025.According to BusinessNZ chief executive Katherine Rich, the latest results suggest that the recovery in services activity remains fragile. All of the survey’s main sub-indices fell into contraction territory during the month.The sharpest decline was recorded in the stocks and inventories component, which dropped to 46.7. Employment also weakened, falling to 47.2, indicating that hiring conditions within the services sector softened during the period.Survey responses also highlighted ongoing economic pressures weighing on activity. The proportion of negative comments from businesses stood at 56.4% in February. Although this was slightly lower than the 58.7% recorded in January, it remained higher than December’s 50.4%, underscoring persistent concerns about the outlook.Businesses cited weak economic conditions, elevated living costs and ongoing pressure from inflation and interest rates as key factors dampening consumer demand for services. Other issues raised included seasonal holiday disruptions, subdued business confidence, staffing challenges and rising operating costs.Doug Steel, senior economist at BNZ, said the latest reading was disappointing given that other indicators had pointed to stronger momentum.Steel noted that the survey contrasted with the relatively upbeat result from New Zealand’s manufacturing sector, where the Performance of Manufacturing Index released earlier had shown signs of improvement.The divergence between manufacturing and services highlights the uneven nature of New Zealand’s recovery, with domestic demand-sensitive sectors still struggling to regain traction as households remain cautious about spending. This article was written by Eamonn Sheridan at investinglive.com.