Australia's preliminary S&P Global Manufacturing PMI for March was 50.1, compared to 51 in the previous month.

EXPLOSIONS REPORTED IN BAGHDAD

Domestic News 1. The second meeting of the "upgraded" China-EU export control dialogue mechanism was held in Beijing. 2. Did China demand that Iran guarantee the safety of oil shipped to China? The Ministry of Foreign Affairs responded. 3. Three Beijing departments summoned 12 platform companies, informing them of the first batch of issues related to "involutionary" competition. 4. The state implemented temporary control measures on refined oil prices: gasoline and diesel prices were effectively increased by 1160 yuan and 1115 yuan per ton, respectively. International News 1. Sources: The Japanese government is considering intervention in oil futures. 2. Foreign media: The US warned the EU that it must pass a trade agreement, otherwise it risks losing its preferential access to liquefied natural gas. 3. Influenced by comments from Trump and others, gold, bonds, oil, stocks, and currencies completely reversed their previous intraday trends around 7 pm Beijing time. Oil prices fell by $14 in 5 minutes, while gold once erased a 9% drop and turned positive. 4. Federal Reserve—① Goolsby: Inflation is the primary risk; a rate hike cannot be ruled out, but room for rate cuts this year remains. ② Milan: If a second round of inflation and wage increases occur, interest rate hikes may be necessary, but it is not currently considered necessary. Four rate cuts are still expected in 2026. ③ Daly: Too much forward guidance creates a false sense of certainty. 5. Iran Situation— ① Trump claims productive talks with Iran over the past two days, and a five-day suspension of strikes on Iranian energy facilities. ② The Iranian Foreign Ministry, senior leadership, and Iranian media all deny negotiations with the US, pointing out that Trump's aim is to lower energy prices and buy time for his military plans. ③ Israeli Prime Minister: Israel will continue attacks on Iran and Lebanon; Trump believes military gains can facilitate an agreement. ④ Iran claims that given complete control of the Strait of Hormuz, there is no need to deploy mines. ⑤ Trump responds to Iranian media's denial of negotiations: The most recent Iran talks were held on Sunday, and an agreement with Iran could be reached within five days. ⑥ Trump: 15 points of agreement have been reached with Iran, including that Iran does not possess nuclear weapons. ⑦ Iranian Foreign Ministry: We have recently received messages from some friendly countries regarding the US demand for negotiations to end the war. We have responded appropriately based on our principled stance and have not held any negotiations with the US. ⑧ Iranian official: Iran and the US have exchanged messages through Egypt and Turkey. The US has not accepted the core conditions of compensation for losses and acknowledgment of its aggression against Iran. The US has requested a meeting with Iranian Parliament Speaker Ghalibaf on Saturday. ⑨ Israeli media: Iran and the US will hold talks this week in the Pakistani capital. The US has set April 9 as its target date for ending the war. ⑩ US media: Israeli officials claim that the Iranian official who has contacted the US is Ghalibaf, which he denies. ⑪ US media: The Trump administration is assessing the possibility of supporting the Iranian Parliament Speaker to take power.