West Texas Intermediate (WTI) trades around $88.20 on Wednesday at the time of writing, up 0.40% on the day, attempting to stabilize after a recent pullback.
Nordea’s Group Chief Economist Helge J. Pedersen notes that the Danish parliamentary election has produced a highly fragmented Folketing, with 12 parties entering parliament and no majority for either the red or blue bloc. The Moderates, led by Lars Løkke Rasmussen, now hold the balance of power.
Russia Industrial Output registered at -0.9%, below expectations (1.1%) in February
The Pound Sterling (GBP) reverses course on Wednesday as the Greenback edges higher on the day, as risk appetite deteriorates following news reports that Iran's nuclear Bushehr power plant was hit.
The AUD/USD pair fell to near the 0.6960 price zone amid mixed Australian inflation data and shifting global risk sentiment, keeping traders cautious.
Silver (XAG/USD) pauses its intraday advance on Wednesday, consolidating below the daily high as initial optimism around US-Iran ceasefire efforts fades following Iran’s response.
UOB economist Lee Sue Ann highlights a hawkish pivot by the Bank of England (BoE), with the Bank Rate held at 3.75% and a unanimous 9–0 vote. The report removes prior expectations for three 2026 cuts, now forecasting the GBP Repo Rate steady at 3.75% through 4Q26 as inflation risks dominate.
United States 5-Year Note Auction increased to 3.98% from previous 3.615%
Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is drifting lower as positive US Dollar momentum pulls USD/CAD away from their fair value estimate.
Gold (XAU/USD) extends its recovery on Wednesday after falling to four-month lows earlier this week, as early buyers step in following a sharp selloff.
UOB economist Lee Sue Ann highlights that Australian inflation remains elevated, with housing and electricity key drivers, even as trimmed mean CPI tracks slightly below earlier RBA projections.
Brown Brothers Harriman’s (BBH) Elias Haddad notes that global risk sentiment has improved as markets position for a potential conflict resolution involving Iran, with DXY consolidating below 100.00.
