Commerzbank’s Dr. Henry Hao and Moses Lim note India's flash March PMIs point to growth moderation rather than a sharp slowdown, as manufacturing softens but external demand stays resilient.
ING’s Chris Turner argues it is premature to expect a sustained Dollar sell-off as Middle East tensions keep energy prices elevated and support safe-haven demand.
United States MBA Mortgage Applications climbed from previous -10.9% to -10.5% in March 20
The EUR/USD pair trades broadly sideways around 1.1600 during the European trading session on Wednesday. The major currency pair consolidates as investors await Iran’s response to United States (US) President Donald Trump’s proposals of a month-long ceasefire and 15-point settlement plan.
Citing a source, who asked not to be named, Reuters reported on Wednesday that Pakistan has delivered the United States' proposal to Iran.
Nomura’s Global Markets Research team notes UK CPI inflation held at 3.0% year-on-year in February, matching Bank of England (BoE) forecasts. Services inflation stayed sticky, but core measures eased slightly.
Deutsche Bank analysts report that Euro Area activity is slowing, with the composite PMI dropping to a 10‑month low while still just above the 50 expansion threshold. They emphasize that survey details point to rising input prices, suggesting renewed inflation pressures.
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.
TD Securities notes that President Lagarde used the ECB and Its Watchers conference to outline how the Governing Council is assessing the Middle East conflict shock. The bank says the ECB is effectively playing for time, watching selling price expectations and wage trackers.
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.
