Next week's macro outlook: US and Israel jointly ignite the "Middle East Powder Keg," Non-Farm Payrolls data to be released on Friday

BlockBeats News: On February 28, the US-Iran conflict has fully erupted today. Next week, the geopolitical tension between the US and Iran will be full of uncertainties, and global markets will fluctuate amid high uncertainty and risk aversion.

Analysts point out that Iran’s retaliation methods could include not only direct missile salvos but also mining the Strait of Hormuz—a crucial global oil trade route that handled 30% of worldwide maritime oil trade last year. However, analysts believe that considering the economic impact on major oil importers, Iran might prefer to direct proxies such as the Houthi armed forces or Iraqi Shia militias to carry out precise strikes on regional energy infrastructure or US diplomatic facilities.

In addition to geopolitical tensions, the main macro events next week are as follows:

Monday 22:45: US February S&P Global Manufacturing PMI Final; Monday 23:00: US February ISM Manufacturing PMI.

Tuesday 22:55: FOMC permanent voting member and New York Fed President Williams speaks.

Wednesday 00:55: 2026 FOMC voting member and Minneapolis Fed President Kashkari speaks; Thursday 03:00: Federal Reserve releases Beige Book; Wednesday 21:15: US February ADP Employment Change; Wednesday 22:45: US February S&P Global Services PMI Final; Wednesday 23:00: US February ISM Non-Manufacturing PMI.

Thursday 20:30: US February Challenger Job Cuts; Thursday 21:30: US initial jobless claims for the week ending February 28; US January Import Price Index MoM; Thursday 23:00: US February Global Supply Chain Pressure Index.

Friday 21:30: US February Unemployment Rate, US February Non-Farm Payrolls (seasonally adjusted), US January Retail Sales MoM.

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