SYDNEY, March 16 - Asian markets opened cautious Monday as Gulf hostilities kept oil prices volatile and inflation pressures elevated. Brent crude rose to $103.27 a barrel; U.S. crude fell to $97.99.
Central banks across the U.S., UK, Europe, Japan, Australia, Canada, Switzerland, and Sweden hold policy meetings this week. Most are expected to hold rates steady-except the Reserve Bank of Australia, seen hiking its cash rate to 4.1%.
The Federal Reserve is certain to hold on Wednesday. Market pricing now gives just a 26% chance of a June rate cut-down from 69% a month ago.
Ten-year Treasury yields stand at 4.26%, up 32 basis points since the war began.
A U.S.-led coalition to escort ships through the Strait of Hormuz may be announced this week. EU foreign ministers meet Monday to discuss expanding naval presence in the Middle East-though operations there carry high risk.
Japan’s Nikkei edged down 0.1%; South Korea’s KOSPI rose 0.9%. MSCI’s Asia-Pacific ex-Japan index gained 0.1%.
Chinese retail sales data and U.S.-China talks in Paris-covering agriculture, critical minerals, and managed trade-are key regional developments.
Nvidia’s GTC conference opens this week in Silicon Valley, spotlighting AI infrastructure amid growing investor focus on tech’s macro sensitivity.
The U.S. dollar eased slightly after Hormuz escort news but remains strong: yen at 159.47; euro near $1.1440, testing critical support at $1.1392.
Gold held near $5,022-an ounce-with muted safe-haven demand so far.