European Central Bank (ECB) Chief Economist Philip Lane warned of higher inflationary pressures in the Eurozone in the next two months during European trading hours at the ECB and its Watchers conference at Goethe University in Frankfurt on Wednesday.
The Indian Rupee (INR) holds slight early gains against the US Dollar (USD) on Wednesday, with the USD/INR pair retracing to near 94.30 from the lifetime high of 94.75 posted the previous day.
Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $73.26 per troy ounce, up 2.76% from the $71.30 it cost on Tuesday.
Societe Generale analysts highlight USD/JPY pressing the upper end of its multi-year range, with resistance at 159.90 and key support at the 50-day moving average near 156.50.
The USD/CHF pair trades in a tight range around 0.7900 during the European trading session on Wednesday. The Swiss Franc pair trades calmly as the US Dollar (USD) turns sideways, with investors awaiting the response from Iran over United States (US) President Donald Trump’s 15-point settlement plan.
Nordea’s Chief Analyst Torbjörn Isaksson reports that Swedish producer and import prices for consumption goods remained weak in February, with domestic supply prices excluding energy falling 0.2% on the month and staying negative year-on-year.
ING’s Chris Turner notes that February UK CPI was broadly in line, but stronger services inflation and higher energy prices keep Bank of England (BoE) hawks vigilant.
Germany IFO – Business Climate came in at 86.4, above expectations (86.1) in March
AUD/USD extends its losses for the second successive day, trading around 0.6980 during the European hours on Wednesday. The pair stays under pressure as the Australian Dollar (AUD) weakens following the latest domestic inflation data release.
UOB Economist Lee Sue Ann expects the Reserve Bank of Australia (RBA) to keep the cash rate at 4.10% through 4Q26, after a split decision hike in March driven by Iran-related energy shocks and a strong labour market.
Germany IFO – Business Climate came in at 88.6, above expectations (86.1) in March
German IFO Institute's Business Climate Index deteriorates to 86.4 in March from 88.4 in February, revised lower from 88.6.
