European stock markets have started this Tuesday’s session flat. He Ibex tries to reconquer the 17,000 points, although the doubts about Iran. Some information suggests that the president of the United States, donald trumpwants to find a way out of the war, but his latest moves, sending more troops to the area, go in the opposite direction, which maintains the uncertainty on the Middle East conflict. And meanwhile, investors remain attentive to the great macroeconomic reference of the day: the euro zone inflation corresponding to the month of March. It will be necessary to see to what extent the conflict in Iran, which has already caused a notable rise in energy prices, is affecting prices and how this may end up having an impact on the monetary policy of the European Central Bank (ECB). All this after this Monday Germany confirm that inflation had shot up to 2.7% in March due to the rise in the price of energy, which became 7.2% more expensive due to the war, compared to the 1.9% drop recorded the previous month. For now, the central banks’ maxim is to wait and see. This was said this Monday by the president of the US Federal Reserve (Fed), Jerome Powellwho said that at the moment inflation expectations in the US are «well anchored» despite the war, although he also acknowledged that «sooner or later» they will have to face the question of what to do with what is happening in Iran. «We do not know what the economic effects will be.but without a doubt we will take into account that broader context when making the decision» on rates, he stressed. Although inflation is not the only important macro reference that is known this Tuesday. It also highlights the UK fourth quarter GDPwhich grew by 0.1 in the last three months of 2025, the same as in the previous one, as well as the France CPI March, which has risen to 1.7%. In Asia, there has also been a battery of macro data, although the China Manufacturing PMIwhich stood at 50.4 in March, compared to 49 in February. It has been a better figure than expected, and it also represents the first time that the Asian giant’s manufacturing activity has grown so far this year. In the Asia-Pacific region, stock markets have ended mixed.
OIL DOWN
Meanwhile, all eyes remain on oil, which has retreated, albeit only slightly, from Monday’s levels following reports that Trump is seeking to avoid a prolonged conflict in the Middle East. Specifically, according to the ‘Wall Street Journal’, the US president had informed his advisors their willingness to end military hostilities against Iran, even if the Strait of Hormuz remained practically closed. However, previously this Monday, the Republican had threatened to destroy Kharg Island if Iran did not «immediately» reopen the waterway. That is why crude oil continues to trade at high levels, with Brent at $113, and a barrel of West Texas quality at $103. «For now, selling pressure appears to be decreasingbut the risk of further declines remains,» says Ipek Ozkardeskaya, senior analyst at Swissquote. In his opinion, «markets will continue to be conditioned by the news and the dynamics of oil prices, and until there is significant progress towards peace, any rebound in stocks, bonds or gold probably will still be fragile«he says. In other markets, the gold rises to $4,555 per ounce, while the 10-year US Treasury bond falls to 4.332%. He EUR/USD advances and changes to 1.1466 dollars, and in the cryptocurrency market the bitcoin advances eagerly to $67,131,
