WHAT TO WATCH:

FRIDAY TRADING SESSIONS (as of ~4pm New York time):

• Traders turned bullish on the dollar for the first time since the start of 2026, per Commodity Futures Trading Commission data released on Friday
• AUD/USD fell 1.0% to 0.7017
• NZD/USD fell 0.8% to 0.5826

Treasury 10-year yields rose 13.8bps to 4.39%; while the 5s30s curve flattened 1.6bps to 94.2bps

TOP NEWS:

• Iran said it would completely close the strait if its power facilities come under attack and strike energy, information tech and desalination infrastructure that belong to the US and Israel in the region

KEY VIEWS:

Deutsche Bank Says Oil Shock Unlike 2022 and May Limit USD Gains

RBC Boosts Aussie Dollar Forecast Amid Commodities Pressure

Wells Fargo Closes Long EUR/CHF as Europe’s Growth Outlook Sours

DATA RELEASED FRIDAY:

• Feb. Industrial Product Price MoM, actual 0.4%, est. 1.1%, prior 2.7%
• Feb. Raw Material Price Index MoM, actual 0.6%, est. 2.4%, prior 7.7%

ECONOMIC DATA (All times HK):

• Feb. CPI Core YoY, est. 1.3%, prior 1.0%

CENTRAL BANKS (All times HK):

BOND SALES/PURCHASES (All times HK):

AS OF 4pm New York time:

• DJIA -1.0% to 45,577.38 (range 45,369.39–46,068.31)
• Gold -3.2% to $4,501/oz (range $4,478–$4,736)
• Copper -1.9% to $5.33/lb (range $5.33–$5.51) TECHNICAL OUTLOOK:

Reporting by Miles J. Herszenhorn