Economic Data and Corporate Earnings Drive Market Volatility

Overview

During the week of March 9–13, global financial markets were influenced by several important economic releases and corporate earnings reports. Investors closely watched US inflation data, labour market indicators, and growth figures from the UK and Canada for signals about the health of major economies and the outlook for monetary policy.

At the same time, notable corporate earnings and movements in commodities and equity markets contributed to market volatility. The following review highlights the key economic indicators, company results, and major market developments from the week.

Major Economic Indicators and Events in Review

Wednesday, March 11

14:30 – USA: CPI m/m (USD)

US consumer prices rose 0.3% in February, slightly faster than the 0.2% increase in January, according to the Consumer Price Index (CPI). Over the past 12 months, prices are up 2.4%, meaning inflation remains moderate.

The largest contributor to the monthly increase was housing costs, which rose 0.2%. Food prices also increased, with groceries up 0.4% and restaurant meals up 0.3%. Energy prices climbed 0.6% during the month.

When excluding the more volatile food and energy categories, core inflation rose 0.2% in February and 2.5% over the past year.

The EURUSD ticked lower by 0.38% on the day.

Thursday, March 12

14:30 – USA: Unemployment Claims (USD)

New US unemployment claims fell slightly last week, suggesting the labor market remained stable.

About 213,000 people filed for unemployment benefits for the first time, down 1,000 from the previous week. The four-week average, which smooths out weekly volatility, also declined to 212,000, indicating layoffs remained relatively low.

Meanwhile, the number of people continuing to receive unemployment benefits fell by 21,000 to about 1.85 million. The insured unemployment rate remained unchanged at 1.2%.

The EURUSD fell 0.47% on the day.

Friday, March 13

09:00 am – UK: GDP m/m (GBP)

UK economic growth remained modest at the start of 2026. Real GDP grew by 0.2% in the three months to January, slightly faster than the 0.1% growth recorded in the three months to December.

The main driver of growth was the production sector, which expanded by 1.3%. Services, the largest part of the economy, rose by 0.2%, while construction declined by 2.0%.

On a monthly basis, the economy showed no growth in January after small increases in the previous two months. Services were flat, production fell slightly, and construction edged higher.

Compared with a year earlier, the UK economy grew by about 0.9%, with gains in services and production partly offset by a small decline in construction.

The GBPUSD declined by 0.92% on the day.

14:30 – Canada: Employment Change (CAD)

Canada’s labor market weakened in February as employment fell by 84,000, a decline of 0.4%. As a result, the employment rate dropped to 60.6%, while the unemployment rate rose to 6.7%.

Job losses were mainly seen among young people aged 15–24 and men aged 25–54. Employment was largely unchanged for core-aged women and workers aged 55 and older.

Both service and goods-producing sectors recorded declines, with the largest job losses in wholesale and retail trade and in personal and repair services.

Despite the weaker job market, average hourly wages continued to grow, increasing 3.9% compared with a year earlier.

The USDCAD rose by 0.6% on the day.

14:30 – USA: Core PCE Price Index m/m (USD)

US personal income rose by 0.4% in January, while disposable income increased by 0.9%, according to data from the Bureau of Economic Analysis. Consumer spending also increased by 0.4%, mainly driven by higher spending on services, although spending on goods declined.

Personal savings totaled about $1.05 trillion during the month, with the savings rate standing at 4.5%.

Inflation, measured by the Personal Consumption Expenditures (PCE) price index, rose 0.3% in January and 2.8% compared with a year earlier. Core PCE, which excludes food and energy, increased 0.4% on the month and 3.1% year-over-year.

The EURUSD declined by 0.84% on the day.

14:30 – USA: Prelim GDP q/q (USD)

US economic growth slowed sharply in the fourth quarter of 2025. Real GDP expanded at an annual rate of 0.7%, down from strong growth of 4.4% in the third quarter, according to the second estimate from the Bureau of Economic Analysis.

Growth in the quarter was mainly supported by consumer spending and business investment, while declines in government spending and exports weighed on overall economic activity.

The estimate was revised lower from the initial report, largely due to weaker exports, consumer spending, government spending, and investment than previously estimated.

Inflation remained elevated, with the price index for domestic purchases rising 3.8% during the quarter, while the PCE price index increased 2.9%.

The USDJPY increased by 0.25% on the day.

16:00 – USA: JOLTS Job Openings (USD)

US job openings remained largely unchanged at about 6.9 million in January, according to the Bureau of Labor Statistics. Hiring also held steady at 5.3 million, while total separations were little changed at 5.1 million.

Within separations, the number of workers quitting their jobs and layoffs both showed little movement, standing at 3.1 million and 1.6 million, respectively.

Overall, the data suggested that the US labor market remained relatively stable at the start of the year.

The AUDUSD fell by 1.36% on the day.

Company Earnings (March 9 – 13)

Tuesday, March 10: ORCL (Oracle Corporation)

Thursday, March 12: ADBE (Adobe Inc.)

Thursday, March 12, DG (Dollar General Corporation)

Commodities

1. Crude Oil
   Crude oil prices increased by 8.81% over the past week
2. Brent Oil
   Brent was up 11.3% compared to the previous week
3. Gold
   The precious metal Gold (XAUUSD) concluded the week on Friday with a 2.90% weekly decrease
4. Silver
   XAGUSD decreased by 4.54% from last week

Stock Market

1. S&P 500 decreased by 1.68%
2. DJIA was down 2.05%
3. NASDAQ 100 decreased by 1.27%

Top Gainers

1. Acurx Pharmaceuticals, Inc. (ACXP) 187.41%
2. Polaryx Therapeutics, Inc. (PLYX) 132.12%
3. EON Resources Inc. (EONR) 128.36%

Top Losers

1. E-Home Household Service Holdings Limited (EJH) -88.77%
2. NFT Limited (MI) -87.21%
3. Innovation Beverage Group Limited (IBG) -80.11%

Oracle’s shares rose after the company reported stronger-than-expected earnings and revenue. Quarterly revenue reached $17.2 billion, while adjusted earnings per share came in at $1.79, both beating analysts’ forecasts. The company also raised its long-term revenue guidance, forecasting about $90 billion in revenue by fiscal 2027, driven by strong demand for its cloud and AI services. However, investors remain cautious about the company’s high spending on AI infrastructure and rising debt.

ORCL shares gained 1.41% over the past week.

Adobe reported strong results, with revenue rising about 11% to $5.7 billion and adjusted earnings per share increasing to around $4.48, both showing solid growth. The company maintained its full-year guidance and highlighted strong demand for its AI-powered products, while also announcing that CEO Shantanu Narayen plans to step down once a successor is appointed.

ADBE shares fell by 12.09% last week.

Dollar General reported stronger-than-expected fourth-quarter results, with earnings per share of $1.93 and revenue of about $10.9 billion, both beating forecasts. Sales were supported by solid customer traffic, with same-store sales rising 4.3%.

The company expects sales to grow around 3.7%–4.2% in fiscal 2026 and forecasts earnings per share between $7.10 and $7.35.

DG shares dropped 9.89% over the past week.

Conclusion

Overall, the week was marked by mixed economic signals across major economies. US inflation remained moderate while labor market data suggested continued stability, although economic growth slowed toward the end of 2025. The UK economy showed modest expansion, while Canada’s labor market weakened in February.

In financial markets, equity indices moved lower, commodities showed mixed performance, and currency markets reacted to key macroeconomic releases. Corporate earnings from major companies such as Oracle, Adobe, and Dollar General also contributed to market movements, highlighting both strong corporate performance and ongoing investor concerns about future growth and spending.