Daily Market View 17-03-2026

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Daily Market View 17-03-2026
1:23

Reserve Bank of Australia sounds recession alarm as Oil starve continues

1 Minute Market Rundown

  • US asks allies for help in opening Strait of Hormuz, gets very little response 

  • Reserve Bank of Australia kicked off the first G-10 Central Bank meeting since the start of the war last night, hiking rates 25bps

  • AUD, the top currency performer this year, softens following split decision to raise rates

 

AUD - 

With the war continuing at seemingly the same pace every day and the President repeating that the war is "completely" every other day, I thought it best to widen our focus slightly. AUD has been by far the best performing G-10 currency of the year so far, rallying 5.95% so far. This is based mostly off high Australian inflation making a strong case for the RBA to be the only G-10 central bank hiking in 2026.

Screenshot 2026-03-17 081910 

The RBA did indeed hike, but gave us some of the first official concerns regarding the impact of the war on domestic economies. Australia imports much of its Oil from Malaysia and Indonesia, 79% of all energy in fact and so is exposed to the rapid rise in Oil prices seen. 

RBA speakers were especially concerned about petrol prices causing general inflation, a very real concern in such an import heavy large country. Speakers went on to suggest that Australia's hitherto good growth figures could turn negative if there is no swift conclusion to the war in Iran.

 

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 2026-03-17 084604

 

Today's Economic Calendar

Major Economic Releases (All times in GMT)

No major releases

 
 
 

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