Daily Market View 11-03-2026

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Daily Market View 11-03-2026
1:23

More tankers hit in strait suggests no end in sight

1 Minute Market Rundown

  • Trump tries to lay ground work for exit but Israeli war goals and recent tanker hits make withdrawal difficult 

  • Royal Navy reports three tankers hit in the strait, ablaze and with crews abandoning 

  • UK inflation likely to rise off the back of struggle 

 

GBP - 

Despite the Presidents attempts to seemingly lay the foundation for an American withdrawal from the conflict yesterday in a confused press conference where he said the war had been "won completely". He then went on to conflict this statement in the same sentence by saying "more bombings are needed".

Meanwhile, traffic through the strait remains at an all time low, dropping from 202 freighters passing through a week in February to just 1 in the last 7 days.

 Screenshot 2026-03-11 081626 

This seems unlikely to change soon with the Royal Navy reporting three tankers ablaze in the strait after being hit by Iranian missiles. Moreover, the chances of UK inflation falling to 2% by the end of this year seems to have vanished according to Bloomberg. 

Screenshot 2026-03-11 084436

Whether the Bank of England will look through this shock as a short energy price rise, or whether it will change BoE policy for the whole year depends on how long this all lasts. Trump sounded like a man in a hole who can't seem to find a way out yesterday, we'll see how hard he searches. 

 

Markets Today

*Please be aware the below rates represent the market rate at 8:00 AM, contact your Caxton dealer or check online for a live quote.

Screenshot 2026-03-11 084658

 

Today's Economic Calendar

Major Economic Releases (All times in GMT)

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