Asia Market Quick Take – 10 March, 2026

Earnings this week:

• Tuesday: Oracle, Kohl's, NIO, ABM Industries, AeroVironment, UNFI, BioNTech, Uranium Energy Corp
• Wednesday: Campbell's, Sprinklr, UiPath, Algoma, OppFi, Descartes
• Thursday: Adobe, Li Auto, Dollar General, Dick's Sporting Goods, SentinelOne
• Friday: VEON, Century Casinos, Acurx Pharmaceuticals

FX:

• USD weakened late in the New York session after President Donald Trump suggested the conflict with Iran might soon end, stating it is "very complete, pretty much." AUD and NZD outperformed the USD among G-10 currencies. The Bloomberg Dollar Spot Index fell by 0.1%, reversing earlier gains of up to 0.7%. Trump also mentioned the possibility of taking control of the Strait of Hormuz.
• NZDUSD rose by 0.6% to 0.5932, reflecting increased optimism and a shift towards risk-on sentiment. Similarly, AUDUSD strengthened by 0.6%, reaching 0.7075.
• EURUSD managed to recover 0.1% to 1.1625 after earlier hitting a low of 1.1507—its weakest point since late November.
• USDJPY ended the session slightly softer at 157.70 as broader market sentiment shifted towards risk assets. Despite overall dollar weakness, USDCAD climbed by 0.1% to 1.3585 amid fluctuations in oil prices linked to ongoing geopolitical tensions. Trump's remarks have influenced positive shifts across these major currency pairs.

Commodities:

• Gold steadied as the US dollar eased after President Trump suggested the Middle East war could be nearing an end, with bullion around $5,140 an ounce in early trading after a 0.6% fall the previous session, a dollar gauge down as much as 0.1% extending Monday’s decline.
• Oil tumbled after President Trump signalled the Iran war could end soon, as the Middle East conflict roils energy markets and stokes inflation fears, with WTI plunging as much as 10% to $85.02 after Monday’s widest swing since prices briefly turned negative during the pandemic, and Trump saying in Florida he plans to waive oil‑related sanctions and have the US Navy escort tankers through the Strait of Hormuz.

Fixed income:

• 10-year Treasury yields ended 4 bps lower at ~4.09% after earlier spiking to 4.21%. Treasury futures rose after President Donald Trump told CBS the Iran war is “very complete, pretty much,” calming markets as stocks gained, while earlier oil strength had weighed on Treasuries and European bonds through Asia and early London, with UK yields leading a volatile sell‑off before paring losses into the London afternoon and lending some support to Treasuries, though 2‑year gilts remained about 11 bps cheaper on the day.

For a global look at markets – go to Inspiration.

This content is marketing content and should not be considered investment advice. Trading financial instruments carries risks and historic performance is not a guarantee for future performance.
The instrument(s) mentioned in this content may be issued by a partner, from which Saxo receives promotion, payment or retrocessions. While Saxo receives compensation from these partnerships, all content is conducted with the intention of providing clients with valuable options and information.