-
Asian markets are declining for a third consecutive session amid escalating tensions between the US, Israel, and Iran. Japan’s JP225 is down 1.50% to 54,400 points, Chinese indices are losing between 0.70–1.50%, and Australia’s AU200cash is down 0.75%.
-
The Korean Kospi index also stands out. Investors used the rise in tensions in the Middle East as an opportunity to take profits after parabolic gains in recent months. The index is down 12% today, yet it remains 18% higher year-to-date.
-
Oil prices are gaining around 2% today, with OIL.WTI trading at 76.25 USD per barrel and Brent at 83.50 USD. Prices rose following attacks near the Strait of Hormuz that disrupted tanker traffic. Late yesterday, Trump announced naval protection and insurance support for energy transport in hopes of stabilizing the situation.
-
The situation on the forex market is mixed today. Among the weakest currencies is the Australian dollar (AUD), while on the other side are the New Zealand dollar (NZD) and the Swiss franc (CHF).
-
Precious metals are rebounding after yesterday’s sell-off. Gold is up 1.20% to 5,120 USD per ounce, and silver is gaining 3.20% to 83.30 USD per ounce.
-
Official PMI indicators in China remained in contraction territory, with the composite index at 49.5, signaling continued weakness in the domestic economy. Meanwhile, the unofficial Caixin PMI rose to 52.1 — the highest level since the pandemic. The improvement was driven by strong growth in new orders and exports. The conflicting data complicates the assessment of China’s recovery trajectory.
-
Stronger unofficial data pointed to increased production and inventory rebuilding. Raw material costs reached their highest level in 44 months, mainly due to metals. Producers partially passed on costs to customers, although employment growth remained moderate.
-
Japanese authorities once again emphasized their readiness to act in the forex market, including potential currency intervention. Despite geopolitical tensions, the yen did not fulfill its safe-haven role, mainly due to rising oil prices, which negatively affect Japan’s trade balance.
-
Australia’s GDP rose by 0.8% q/q and 2.6% y/y, exceeding expectations. Growth momentum has clearly improved compared to the lows of mid-2024. However, household consumption remains cautious.
Economic calendar: ADP Labor market report and ISM services 🔎
Economic calendar: Eurozone CPI and central bankers speeches in focus
Morning wrap (03.03.2026)
BREAKING: US Manufacturing data above expectations! 📈🏭
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
