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 US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 99.60 during the Asian trading hours on Wednesday.
Japan Merchandise Trade Balance Total above expectations (¥-483.2B) in February: Actual (¥57.3B)
USD/CAD remains flat after posting little gains in the previous session, hovering around 1.3690 during the Asian hours on Wednesday. The pair holds steady as traders remain cautious ahead of policy decisions from both the Federal Reserve (Fed) and the Bank of Canada (BoC) later in the day.
Japan Exports (YoY) came in at 4.2%, above expectations (1.6%) in February
