Next Week's Macro Outlook: US and Eurozone PMI Data Releases, Short-Term Energy Trends Remain in Focus

March 21: With the Iran conflict entering its fourth week and no clear signs of easing, markets are in turmoil. The conflict and its impact on energy prices remain Wall Street’s near-term focus. Additionally, upcoming U.S. and European macro data next week will let markets gauge whether recent energy price surges are starting to feed into consumer prices and the broader economy. Below are key market focus points for the coming week (all times in Beijing time): - **Monday, 22:00**: U.S. January construction spending (month-over-month) - **Tuesday, 7:30**: Japan February core consumer price index (year-over-year) - **Wednesday, 8:30**: Australia February non-seasonally adjusted consumer price index (year-over-year) - **Wednesday, 15:00**: U.K. February consumer price index (month-over-month); U.K. February retail price index (month-over-month) - **Wednesday, 20:30**: U.S. Q4 current account; U.S. February import price index (month-over-month) - **Wednesday, 22:30**: U.S. EIA weekly crude oil inventories (week ended March 20) - **Thursday, 20:30**: U.S. initial jobless claims (week ended March 21) - **Thursday, TBD**: G7 finance ministers meeting (runs through March 27) - **Friday, 7:00**: Fed Vice Chair Philip Jefferson speaks - **Friday, 23:30**: San Francisco Fed President Mary Daly (2027 FOMC voter) delivers opening remarks at a macroeconomics and monetary policy conference Note: Adjusted for American English phrasing (e.g., "conflict" instead of "war" for neutrality in financial context, clearer term expansion for metrics, natural date/time formatting).