Following a two-day monetary policy meeting, the Federal Reserve on Wednesday announced its widely expected decision to once again leave interest rates unchanged. The Fed said it decided to maintain the target range for the federal funds rate at 3.50 to 3.75 percent after also leaving rates unchanged after its last meeting in January.

A report released by the Commerce Department on Wednesday showed a slight increase in new orders for U.S. manufactured goods in the month of January. The Commerce Department said factory orders crept up by 0.1 percent in January after falling by 0.4 percent in December. The uptick matched economist estimates.

Producer prices in the U.S. increased by much more than expected in the month of February, according to a report released by the Labor Department on Wednesday. The Labor Department said its producer price index for final demand advanced by 0.7 percent in February after climbing by 0.5 percent in January. Economists had expected producer prices to rise by 0.3 percent.

The Bank of Canada on Wednesday announced its widely expected decision to leave interest rates unchanged for the third straight meeting. The Canadian central bank said it decided to maintain its target for the overnight rate at 2.25 percent, with the Bank Rate at 2.5 percent and the deposit rate at 2.20 percent.

Iceland's central bank decided to raise the interest rates by 25 basis points on Wednesday as inflation expectations increased amid the escalation of the conflict in the Persian Gulf. The Monetary Policy Committee of the Central Bank of Iceland decided to raise the seven-day term deposit rate by 25 basis points to 7.50 percent.

Final inflation from the euro area is the only major economic report due on Wednesday.
At 4.00 am ET, final inflation data is due from Austria. The flash estimate showed that consumer price inflation eased to a 13-month low of 2.2 percent in February from 2.0 percent in January.

A report released by the National Association of Realtors on Tuesday unexpectedly showed a significant rebound by pending home sales in the U.S. in the month of February. NAR said its pending home sales index jumped by 1.8 percent to 72.1 in February after tumbling by 1 percent to a revised 70.8 in January. Economists had expected pending home sales to slump by another 1 percent.

German investor confidence declined significantly in March as the escalating Middle East tension challenges economic recovery and poses risk to inflation. The investor sentiment index declined to -0.5 from +58.3 in February. The score hit the lowest since April 2025 and remained well below the expected score of +38.7.

The New Zealand dollar weakened against most major currencies in the Asian session on Tuesday, due to the possibility of an extended war in the Middle East.

Economic confidence from Germany and final inflation from Italy are the top economic news due on Tuesday. At 3.30 am ET, the Federal Statistical Office publishes Swiss producer prices for February. At 5.00 am ET, Italy's statistical office ISTAT is scheduled to release flash inflation data for February. The preliminary estimate showed that consumer price inflation rose to 1.6 percent from 1.0 pe

The Reserve Bank of Australia lifted its benchmark rate for the second straight time as the conflict in the Middle East poses material risk to inflation. In a close call, the policy board, governed by Michele Bullock, decided to hike the cash rate target by 25 basis points to 4.10 percent. The decision was made by a majority vote, with five members voting to raise the rate.

The National Association of Home Builders released a report on Monday showing a modest improvement in U.S. homebuilder confidence in the month of March. The report said the NAHB/Wells Fargo Housing Market Index inched up to 38 in March from an upwardly revised 37 in February.

A report released by the Federal Reserve on Monday showed industrial production in the U.S. increased by slightly more than expected in the month of February. The Fed said industrial production rose by 0.2 percent in February after climbing by 0.7 percent in January. Economists had expected industrial production to inch up by 0.1 percent.

New York manufacturing activity was little changed in the month of March, according to a report released by the Federal Reserve Bank of New York on Monday. The New York Fed said its general business conditions index fell to a negative 0.2 in March from a positive 7.1 in February, with a negative reading indicating contraction. Economists had expected the index to drop to 3.2.

The U.S. Dollar surged further during the week ended March 13, amidst safe haven demand triggered by the Middle East war.

China's industrial production and retail sales growth exceeded expectations in the January to February period before the war in the Middle East began, official data revealed Monday. Industrial output increased 6.3 percent on a yearly basis, stronger than the 5.2 percent rise in December, the National Bureau of Statistics said. Moreover, the rate exceeded economists' forecast of 5.3 percent.

The New Zealand dollar strengthened against other major currencies in the Asian session on Monday, after China's industrial production and retail sales increased more than expected in the January to February period.

Reflecting the conflict in the Middle East and the subsequent jump in gas prices, the University of Michigan released a report on Friday showing a modest deterioration in U.S. consumer sentiment in the month of March.

U.S. economic growth slowed by much more than previously estimated in the fourth quarter of 2025, according to a report released by the Commerce Department on Friday. The report said gross domestic product increased by 0.7 percent in the fourth quarter compared to the previously estimated 1.4 percent jump. Economists had expected the pace of growth to be unrevised.

The Commerce Department released a report on Friday showing new orders for U.S. manufactured durable goods unexpectedly came in flat in the month of January. The report said durable goods orders were virtually unchanged in January after falling by a revised 0.9 percent in December. Economists had expected durable goods orders to rise by 0.5 percent.

Consumer prices in the U.S. increased in line with economist estimates in the month of January, according to a report released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.3 percent in January after climbing by 0.4 in December. Economists had expected prices to rise by 0.3 percent.

The UK economy logged no growth in January, even before the onset of the conflict in the Middle East that created a significant oil supply shock. Gross domestic product remained flat after rising 0.1 percent in December and 0.2 percent in November, the Office for National Statistics reported. Economists had forecast a monthly growth of 0.2 percent.

Eurozone industrial production declined for the second straight month in January, official data revealed Friday. Industrial output posted a monthly fall of 1.5 percent in January, sharper than the 0.6 percent decrease seen in December.

The commodity currencies such as Australia, the New Zealand and the Canadian dollars weakened against their major counterparts in the European session on Friday, amid the raging war in the Middle East as Iran toughens its stand. The resultant spike in energy stocks amid surging in crude oil prices is helping limit the losses in the markets in the region.

Monthly GDP and foreign trade from the UK and final inflation from France are due on Friday, headlining a busy day for the European economic news. At 3.00 am ET, the Office for National Statistics publishes GDP and foreign trade figures. The economy is forecast to grow 0.2 percent in January after rising 0.1 percent in December. The visible trade deficit is seen widening to GBP 22.7 billion.