TD Securities’ Senior Commodity Strategist Ryan McKay warns that Oil markets face escalating tightness as flows through the Strait of Hormuz remain severely restricted and Gulf production cuts exceed 10m b/d.
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.
United States EIA Crude Oil Stocks Change registered at 6.926M above expectations (0.5M) in March 20
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.
ABN AMRO economists Bill Diviney and Jan-Paul van de Kerke note that the ECB is likely to respond to the renewed energy shock with additional tightening focused on preventing second-round effects.
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.
BNY’s Geoff Yu highlights that APAC balance-of-payments pressures from the Iran conflict and energy by-products are increasingly driving currency flows, with MYR, THB, AUD and PHP in focus.
The NZD/USD pair fell to the 0.5800 region, remaining under pressure as the US Dollar (USD) stays firm amid geopolitical uncertainty and elevated yields.
DBS Group Research economists Byron Lam and Daisy Sharma present a China GDP Nowcast indicating real GDP growth likely improved to 4.7% in 1Q 2026 from 4.5% in Q4 2025.
USD/CAD edges higher on Wednesday, extending gains for a third straight session as a broadly stronger US Dollar (USD) keeps the Canadian Dollar (CAD) under sustained pressure.
NZD/USD trades lower on Wednesday around 0.5820, down 0.22% on the day, extending its decline for a second straight day. The downside move is mainly driven by the strength of the US Dollar (USD), supported by a broader risk-off environment.
