Iraq’s oil minister said on Tuesday that the Iraqi government and the Kurdistan Regional Government (KRG) reached an agreement to resume oil exports to Turkey’s Ceyhan energy hub starting on Wednesday, Reuters reported.
Silver (XAG/USD) lacks a firm intraday direction and oscillates in a narrow range during the Asian session on Wednesday as traders opt to wait on the sidelines ahead of the crucial FOMC rate decision.
West Texas Intermediate (WTI) Crude Oil prices struggle to capitalize on the previous day's modest gains and meet with a fresh supply during the Asian session on Wednesday.
The United States military said that it targeted sites along Iran’s coastline near the Strait of Hormuz, one of the world’s most critical energy chokepoints, because Iranian anti-ship missiles posed a risk to international shipping there, Reuters reported on Wednesday.
EUR/JPY depreciates after registering gains in the previous two sessions, trading around 183.40 during the Asian hours on Wednesday.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $95.00 during the early Asian trading hours on Wednesday. The WTI price climbs amid intensifying Middle East conflict and severe supply disruptions.
The Japanese Yen (JPY) trades almost flat around 159.00 against the US Dollar (USD) during the Asian trading session on Wednesday. The USD/JPY pair consolidates as investors await the Federal Reserve’s (Fed) monetary policy announcement at 18:00 GMT.
Australia Westpac Leading Index (MoM) declined to -0.1% in February from previous -0.04%
GBP/USD steadies after posting gains over the previous two sessions, hovering around 1.1350 during Asian trading hours on Wednesday.
Japan Adjusted Merchandise Trade Balance: ¥-374.2B (February) vs previous ¥455.5B
The EUR/GBP cross loses ground to near 0.8635, snapping the four-day winning streak during the early European session on Wednesday. Markets are in a "wait-and-see" mode ahead of the European Central Bank (ECB) and the Bank of England (BoE) interest rate decisions later on Thursday.
USD/CHF gains ground after two days of losses, trading around 0.7850 during the Asian hours on Wednesday. The pair holds ground as the US Dollar (USD) remains steady on market caution ahead of the Federal Reserve’s (Fed) policy decision.
