U.S. CPI: +2.9% YEAR-OVER-YEAR (EST. +2.9%); U.S. CORE CPI: +3.2% YEAR-OVER-YEAR (EST. +3.3%)

On March 28, UN Secretary-General’s Spokesperson Stephane Dujarric said the evolving situation in the Strait of Hormuz—with the potential to further escalate—could spark a chain reaction in the coming months, impacting humanitarian needs and agricultural production. While Secretary-General António Guterres is committed to working toward a comprehensive, lasting resolution to the conflict, immediate action to mitigate these consequences is critical. To address the challenges, Guterres has set up a dedicated task force. Headed by UN Deputy Secretary-General and UN Development Programme (UNDP) Administrator DiCarlo, the task force will include representatives from the UN Conference on Trade and Development (UNCTAD), International Maritime Organization (IMO), and International Chamber of Commerce (ICC). It will also invite other relevant organizations as needed. The task force’s main goal is to develop and propose targeted technical mechanisms to address the humanitarian needs tie

March 28 – Three sources familiar with the matter said U.S. Secretary of State Mike Pompeo told his G7 counterparts that the Iran conflict should end within weeks. Additionally, Pompeo did not ask G7 nations to immediately deploy ships to help clear the Strait of Hormuz; instead, he requested they prepare for post-conflict roles.

March 28 – Iranian state media reported Wednesday that following U.S. and Israeli attacks on Mobarakeh Steel and Khuzestan earlier in the day, Iran has designated 6 Israeli steel plants and 5 facilities in Gulf countries as new retaliatory targets. The specific targets are: - Saudi Arabia (KSA): Hadeed Steel (a subsidiary of SABIC) - United Arab Emirates (UAE): Emirates Steel Arkan - Qatar: Qatar Steel - Bahrain: Foulath Steel (owned by SULB & GIC) - Kuwait: United Steel Industrial Co. (KWT Steel) - Israel: Yehuda Steel Iran also warned that U.S. industrial companies allied with Israel and regional heavy industrial firms should immediately evacuate their workplaces.

March 28: Bitget market data shows USD/JPY has risen short-term to the 160 mark—its first time at that level since July 2024—with an intraday gain of 0.14%.

March 28 — Iran’s Atomic Energy Organization reported Thursday that its yellowcake production facility in Ardakan, Yazd Province was attacked by Israeli forces minutes earlier. Preliminary assessments show no radioactive material leaked beyond the facility’s boundaries, the organization stated. (CCTV) Yellowcake is a uranium oxide typically extracted from crushed natural uranium ore. It is a critical intermediate in nuclear fuel production but cannot be used directly in nuclear reactors; it is primarily used for uranium enrichment.