ING commodities strategists Warren Patterson and Ewa Manthey report that Gold is trading in a narrow range as the US‑Israeli conflict with Iran extends. A firmer Dollar and higher real yields offset safe‑haven demand from Middle East tensions.
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.
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.
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.
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)
