US data beats: Jobless claims (slightly lower), Trade Deficit (lower), Housing Starts (higher)

US PRE-MARKET MOVERS: CF/MOS/IPI, TEAM, OXY, TEL, PLTR, LLY, GFS, DG, MS
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XAUUSD (GOLD) UPDATE
XAUUSD 4 HOUR CHART

Newsquawk Daily US Opening News – 12th March 2026
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XBRUSD (BRENT OIL) UPDATE
News headlines are all highlighting the price of crude trading at $100 (high 101.70) without noting the gap up occurred at the thinnest time of day and was not accompanied by a similar move in XTIUSD). XBRUSD has since backed off but remains above the gap on this chart.
Given the volatility, the 1-hour trendline seems to be a good indicator and needing to trade above to keep momentum pointed up.
XBRUSD 1 HOUR CHART

Forex Market Snapshot

Newsquawk Daily Asia-Pac Opening News – 12th March 2026
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Bitcoin to $78K? Pro traders price in less than 17% odds of a breakout
Professional traders remain cautious, pricing low odds for a Bitcoin breakout to $78,000 despite recent ETF inflows.
US and Israel-Iran war and soft US labor data offset momentum in Bitcoin ETFs.
Bitcoin options: 17% chance of breaking $78,000
Bitcoin (BTC) reclaimed the $70,000 mark again on Wednesday. However, repeated failed attempts to break above $74,000 over the last five weeks have fueled skepticism.

The U.S. February CPI report came in largely in line with expectations, reinforcing the view that inflation pressures remain stable but not yet decisively lower.
U.S. Treasury yields moved sharply higher across the curve, with the 2-year at 3.642% (+7.3 bps), 5-year at 3.790% (+7.5 bps), 7-year at 3.991% (+7.6 bps), 10-year at 4.216% (+8.0 bps), 20-year at 4.830% (+9.5 bps), and the 30-year at 4.863% (+9.1 bps). The move reflects continued pressure in the bond market and a modest bear-steepening, as longer-term yields rose more than the front end.
At the same time, crude oil surged $4.30, or about 5.15%, even after the IEA recommended releasing 400 million barrels from strategic reserves. The market remains skeptical that reserve releases alone can offset potential supply disruptions tied to tensions around the Strait of Hormuz, where a large portion of global oil supply flows. Higher oil prices have bond traders wary, as they raise the risk of renewed inflation pressures, helping push Treasury yields higher on the day.
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