Fed Holds Rates Steady as Middle East Conflict Clouds Inflation Outlook 
RBA Raises Cash Rate to 4.10% in Closest Vote Since Transparent Voting Began 
Goldman Sachs Raises ECB Rate Hike Forecast Amid Persistent Energy-Driven Inflation 
Time to buy local: war fuel price shocks reveal the folly of a long food supply chain 
U.S. Praises Kurdistan's Role in Oil Markets Amid Iran War Fallout 
ANZ and Westpac Forecast Two RBA Rate Hikes in March and May 2026 
Oil Prices Slip as Middle East Tensions Ease, Heading for Weekly Loss 
BOJ Holds Interest Rates Steady Amid Middle East Uncertainty 
RBA Set to Hike Rates Again Amid Inflation Surge and Global Uncertainty 
RBA Set for Back-to-Back Rate Hikes, Westpac Forecasts 
Bank of Japan Unveils New Inflation Gauge to Support Case for Future Rate Hikes 
Lots of economic data and events scheduled for today and some with high volatility risks associated.
Upcoming:
- OPEC and N-OPEC meetings scheduled today. Outcome expected at 15:00 GMT.
- Spain: First quarter GDP report will be released at 7:00 GMT.
- Italy: Industrial sales and orders report will be released at 8:00 GMT, followed by April trade balance report at 9:00 GMT.
- United Kingdom: first quarter flash GDP numbers will be published at 8:30 GMT. Business investment report for the first quarter will be published at 9:30 GMT.
- United States: Weekly jobless claims report will be published at 12:30 GMT, along with goods trade balance for April. Kansas Fed manufacturing report will be published at 15:00 GMT. EIA will release weekly inventory report at 14:30 GMT. FOMC member Brainard is scheduled to speak at 14:00 GMT.
- Japan: Tokyo and National CPI reports will be published at 23:30 GMT.
