Trading Week Ahead: Global Inflation Fears

Escalating Middle East tensions and a sharp rally in crude oil have reignited global inflation fears. Against this volatile backdrop, traders face a critical week as fresh U.S. producer prices lead directly into high-stakes policy decisions from the Federal Reserve and the European Central Bank. The focus rests heavily on whether policymakers adjust their forward guidance to address the rising energy prices

👉 U.S. PPI

Headline producer prices are forecast to cool to 0.3% following a previous 0.5% increase. As a key leading indicator for inflation, an upside surprise forces a hawkish curve repricing and lifts the dollar, while a softer number may cap yields and support equities ahead of the Fed.

👉 FOMC Statement

Rates are widely expected to remain on hold, making the updated dot plot and forward guidance the primary focus. A hawkish shift to address energy-driven inflation risks could crush risk sentiment and drive broad USD strength, whereas dovish signals would trigger a sharp relief rally.

👉 ECB Refinancing Rate

Traders expect the main policy rate to hold at 2.15%, but surging European gas prices have complicated the outlook. Hawkish forward guidance addressing entrenched inflation will trigger immediate euro strength. A focus on growth risks and a weakening jobs market may weigh heavily on the single currency.

Date	Time	Instrument	Event
Monday, Mar. 16	01:30 PM	CAD	CAD CPI
Tuesday, Mar. 17	04:30 AM	AUD	AUD Cash Rate
Wednesday, Mar. 18	11:00 AM	EUR	EUR CPI
	01:30 PM	USD	US PPI
	02:45 PM	CAD	BOC Rate Statement
	07:00 PM	USD	FOMC Statement
Thursday, Mar. 19	04:00 AM	JPY	BoJ Rate Decision
	08:00 AM	GBP	UK Claimant Count
	01:00 PM	GBP	BOE Bank Rate
	02:15 PM	EUR	ECB Refinancing Rate

*All times in the table are in GMT+1