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Market Minutes
Read snapshots of the latest market news
Central Banks brace for another inflation fight
How rapidly central banks are shifting back toward a more aggressive inflation stance after briefly hoping the energy shock might stay contained.
BoE and ECB hold rates steady; US PCE rises while GDP growth misses forecasts
The Bank of England (BoE) and the European Central Bank (ECB) maintained interest rates at their current levels while adopting a hawkish rhetorical shift in response to escalating Middle Eastern tensions and energy-driven inflationary pressures. Concurrently, the US Personal Consumption Expenditures (PCE) price index surged to 3.5%, while the first-quarter GDP growth reached 2.0%, failing to meet market expectations.
Fed and BoC hold rates steady, flag economic risks; Tech giants beat expectations
The Fed and Bank of Canada held rates steady at 3.75% and 2.25% respectively, citing geopolitical and economic risks. Central banks adopted neutral stances amid energy volatility. Simultaneously, Alphabet, Microsoft, Amazon, and Meta crushed Q1 2026 earnings estimates, propelling Nasdaq futures toward record highs.
UAE exit from OPEC sends oil prices higher; Visa, Coca-Cola, Starbucks beat earnings
The UAE’s exit from OPEC+ sparked by Middle East tensions has driven oil benchmarks toward $100. Meanwhile, Visa, Coca-Cola, and Starbucks delivered strong Q1 2026 earnings, exceeding market expectations. Attention now turns to the Federal Reserve’s policy decision amid rising global inflationary pressures.
A data-heavy week: Monetary policy and Mega-Cap Earnings in focus
Global financial markets are bracing for a period of heightened volatility as several major central banks prepare to announce interest rate decisions. Concurrently, the first-quarter earnings season enters a critical phase with reports due from five of the "Magnificent Seven" technology giants.
US and German confidence hit multi-year lows, while UK retail sales rise
Global sentiment is fracturing as the US-Israel-Iran conflict drives energy prices higher. Michigan consumer sentiment hit an all-time low, and German business confidence fell to levels not seen since 2020. Conversely, UK retail sales showed unexpected resilience, shifting market focus toward the Bank of England’s upcoming interest rate decision.
Global equities weaken amid oil rally and inflation risks; US labour market steady
Global equity markets retreated as surging oil prices, driven by escalating conflict in the Middle East, intensified concerns regarding inflationary persistence. Despite robust corporate earnings for the first quarter of 2026 and a resilient US labour market, major US indices closed lower.
US markets rise on geopolitical relief and strong Q1 performance; UK inflation accelerates
US equity markets reached record valuations following the indefinite extension of the US-Iran ceasefire and a series of robust Q1 earnings reports. In contrast, the United Kingdom’s inflation rate accelerated to 3.3%, driven by soaring energy costs and intensifying concerns regarding stagflation. Meanwhile, Japan’s trade surplus expanded to a multi-year high, underpinned by unprecedented demand for artificial intelligence (AI) infrastructure.
Stocks retreat as US–Iran tensions persist; US retail sales jump, UK jobless rate dips
Global equities retreated as escalating US–Iran tensions exacerbated geopolitical uncertainty and drove energy prices higher. Conversely, the US economy demonstrated notable resilience, with retail sales reaching a one-year high. Meanwhile, the UK unemployment rate declined to 4.9%, reflecting a recovery in the labour market despite a cooling in overall employment growth.
US–Iran tensions lift oil prices; Canadian inflation accelerates
Escalating tensions between the United States and Iran, coupled with near ceasefire deadline, have propelled oil prices upwards by more than 5%. Simultaneously, Canadian headline inflation rose to 2.4% in March, primarily driven by surging energy costs.