BNP Paribas argues that European Union (EU) manufacturing firms enter the 2026 energy shock from Iran with historically low non-performing loan (NPL) ratios, suggesting stronger financial health than in 2022.
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.
The Australian Dollar begins Thursday's session with minuscule gains of 0.04%, after posting losses of 0.68% on Wednesday, courtesy of broad US Dollar strength, despite improved risk appetite. At the time of writing, the AUD/USD trades at 0.6950.
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.
The Reserve Bank of Australia (RBA) Assistant Governor Christopher Kent warned that if the Middle East conflict prolongs, the economic damage would be greater and policymakers would need to cap inflation amid surging energy prices.
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.
United States EIA Crude Oil Stocks Change registered at 6.926M above expectations (0.5M) in March 20
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.
ING’s Carsten Brzeski warns that Germany’s long-awaited cyclical rebound has been dented after the Ifo index fell sharply in March, with expectations suffering their worst hit since the Russian invasion of Ukraine.
BNY’s Head of Markets Macro Strategy Bob Savage reports that the Euro faces conflicting forces as ECB President Christine Lagarde warns of potential forceful tightening if energy-driven inflation persists, while growth risks rise.
GBP/JPY trades within a tight range on Wednesday, with choppy price action as ongoing developments in the US-Israel war with Iran continue to drive volatility across the FX space, while traders show limited reaction to recent economic data.
