In case you wanted a reminder that foreign currency trading is rarely nearly one factor, final week delivered it emphatically. Six main central financial institution choices landed inside days of one another, February PPI scorched expectations at 0.7% month-over-month, and the Iran battle continued reshaping international vitality markets — with WTI briefly tagging $100 earlier than retreating on diplomatic alerts. The Fed held hawkishly at 3.5%–3.75%, the ECB flagged charge hikes as early as April or June, and the BoE shocked markets with a unanimous 9-0 maintain. But regardless of Wednesday’s sharp greenback surge following the Fed, DXY completed the week because the worst performer among the many majors — a reminder that when each main central financial institution turns hawkish concurrently, no single forex owns the speed differential.
The week of March 22–28 is significantly quieter on the central financial institution choice entrance, however do not mistake “quiet” for “calm.” Tuesday is the macro centerpiece, delivering simultaneous flash PMIs throughout France, Germany, the UK, and the US. Wednesday brings an information triple-header — Australian CPI, UK CPI, and ECB President Lagarde’s first main public speech since Thursday’s hawkish pivot. UK Retail Gross sales shut the week Friday. Sprinkle in ongoing geopolitical headline danger from Iran, and the calendar has greater than sufficient firepower to maintain markets transferring for merchants of every kind.
