South Africa Consumer Price Index (YoY) dipped from previous 3.5% to 3% in February
South Africa Consumer Price Index (YoY) dipped from previous 3.5% to 3% in February
Fed: Powell focus as policy steady – UBS
UBS' Chief Economist Paul Donovan notes that the Federal Reserve is widely expected to keep policy unchanged, with attention centered on Fed Chair Powell’s press conference. Markets are looking for Powell’s reaction to Oil prices, the war and implications for US retail gasoline.
USD/CAD: Rangebound trade persists with BoC on hold – Danske Bank
Danske Research Team highlights that USD/CAD remains confined between 1.36 and 1.37 as risk-off sentiment offsets support from Canada’s net energy exporter status.
USD: Fed Dot Plot risks support – ING
ING strategist Francesco Pesole argues that a hawkish revision of the Federal Reserve Dot Plot could support the Dollar, with markets already pricing limited cuts.
GBP/USD: Recovery extends but upside limited – UOB
According to UOB’s Quek Ser Leang, GBP/USD rebounded to 1.3364 and may edge higher toward 1.3410, though a clear break above that level is seen as unlikely given only modest momentum. Intraday, gains are expected to stay below 1.3390, with support at 1.3335 and 1.3320.
Silver price today: Silver broadly unchanged, according to FXStreet data
Silver prices (XAG/USD) broadly unchanged on Wednesday, according to FXStreet data. Silver trades at $79.37 per troy ounce, broadly unchanged 0.06% from the $79.33 it cost on Tuesday.
Breaking: USD/INR hits all-time highs at 93.00 ahead of Fed’s policy
The Indian Rupee (INR) posts a fresh all-time low against the US Dollar (USD) at 93.00 during India's afternoon trading hours on Wednesday.
AUD: Policy divergence underpins outperformance – OCBC
OCBC’s Sim Moh Siong and Christopher Wong note the Australian Dollar recovered after the RBA’s 5–4 split decision to deliver a second consecutive 25bp hike to 4.10%, with Governor Bullock’s remarks seen as hawkish.
BoC: Policy on hold with rangebound Loonie – Societe Generale
Societe Generale economists expect the BoC to keep its policy rate at 2.25%, despite weaker employment and lower CPI. Markets now price about 33 bps of tightening by year-end after the Iran conflict.
Japanese Yen holds ground as BoJ expected to adopt hawkish tone
USD/JPY remains under pressure for a third straight session, trading near 159.00 during Asian hours on Wednesday.
BoC set to hold interest rate amid soft inflation, global uncertainty
The Bank of Canada (BoC) is widely expected to keep its policy rate unchanged at 2.25% at its Wednesday meeting, effectively extending the pause it signalled back in January.
Fed: FOMC to keep policy options open on conflict risks – MUFG
MUFG’s Derek Halpenny expects the FOMC to keep policy options open, with limited changes to the Summary of Economic Projections and no alteration to the median dot profile. MUFG anticipates balanced Fed communication and subdued FX and rates volatility.