# Trading Day: Hello inflation, goodbye 2026 Fed cut | Reuters

> Global markets fell on March 18 after the Fed held rates steady and signaled an inflation spike, with the S&P 500 and Dow posting their lowest closes since November. Brent rose 5% to $110 and WTI to $100 as Iran war supply fears intensified, while gold slumped 4%.

- Date: 2026-03-18 · published 2026-03-18T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/20069-trading-day-hello-inflation-goodbye-2026-fed-cut-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Higher energy prices and rate expectations strengthen the dollar and weigh on dollar-priced commodities, while elevated crude costs raise feed-ingredient and freight costs for buyers.

## Read by commodity

- DXY: bullish ▲
- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-03-08 | [Canadian dollar decouples from oil, adding to BoC inflation headaches \| Reuters](https://feedsoft.ai/events/42497-canadian-dollar-decouples-from-oil-adding-to-boc-inflation-headaches-reuters.md) | -13.5% | -13.4% |
| WTI | 2023-04-12 | [Oil rises 2% on lower-than-expected US inflation data \| Reuters](https://feedsoft.ai/events/36559-oil-rises-2-on-lower-than-expected-us-inflation-data-reuters.md) | -0.8% | -9.6% |
| WTI | 2025-01-27 | [Renewed inflation worries help drive oil price rally \| Reuters](https://feedsoft.ai/events/26662-renewed-inflation-worries-help-drive-oil-price-rally-reuters.md) | -2.8% | -5.2% |
| WTI | 2021-05-11 | [Commodity currencies hold advantage as dollar waits for inflation and Fed \| Reuters](https://feedsoft.ai/events/47003-commodity-currencies-hold-advantage-as-dollar-waits-for-inflation-and-fed.md) | +2.0% | +8.0% |
| WTI | 2022-11-10 | [Oil prices settle 1% higher on tepid U.S. inflation data \| Reuters](https://feedsoft.ai/events/38852-oil-prices-settle-1-higher-on-tepid-u-s-inflation-data-reuters.md) | -0.2% | -16.8% |
| BRENT | 2025-01-27 | [Renewed inflation worries help drive oil price rally \| Reuters](https://feedsoft.ai/events/26662-renewed-inflation-worries-help-drive-oil-price-rally-reuters.md) | -2.1% | -5.0% |
| BRENT | 2021-05-11 | [Commodity currencies hold advantage as dollar waits for inflation and Fed \| Reuters](https://feedsoft.ai/events/47003-commodity-currencies-hold-advantage-as-dollar-waits-for-inflation-and-fed.md) | +1.6% | +4.9% |
| BRENT | 2022-11-10 | [Oil prices settle 1% higher on tepid U.S. inflation data \| Reuters](https://feedsoft.ai/events/38852-oil-prices-settle-1-higher-on-tepid-u-s-inflation-data-reuters.md) | -0.1% | -16.9% |

## Sources

- reuters.com: https://www.reuters.com/world/asia-pacific/global-markets-trading-day-graphic-2026-03-18/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.