Scotiabank’s strategists Shaun Osborne and Eric Theoret highlight the New Zealand Dollar (NZD) as a notable G10 outperformer, supported by a hawkish hold from the Reserve Bank of New Zealand (RBNZ).
Royal Bank of Canada (RBC) economists Nathan Janzen and Annie Zheng highlight that Canada’s current high unemployment rate is masking longer-term labour supply challenges.
AUD/USD attracts sellers on Wednesday as softer-than-expected Australian inflation data weighs on the Australian Dollar (AUD), while persistent uncertainty surrounding a potential US-Iran peace deal keeps the US Dollar (USD) supported.
The Greenback traded in a vacillating fashion on Wednesday, always against the backdrop of the unabated uncertainty surrounding the Middle East conflict, at a time when bets for Fed rate hikes continued to gather pace.
TD Securities’ James Rossiter argues that recent UK GDP data may overstate underlying momentum due to problematic seasonal adjustment by the ONS.
The Dow Jones Industrial Average (DJIA) is having its moment, holding a modest gain near 50,700 in the mid-session while the S&P 500 and Nasdaq Composite quietly leak red.
The British Pound edges lower against the US Dollar as cautious market sentiment surrounding US-Iran talks supports the Greenback. At the time of writing, GBP/USD is trading around 1.3429, remaining on the back foot for a second straight day.
The Euro (EUR) advances by 0.21% against the US Dollar (USD) on Wednesday as risk appetite improves on news that Iran presented a draft framework to the US to end the conflict, a move cheered by financial markets.
Brown Brothers Harriman’s (BBH) Elias Haddad highlights New Zealand Dollar (NZD) outperformance after a hawkish hold from the Reserve Bank of New Zealand (RBNZ).
Scotiabank’s Analyst Team notes the Canadian Dollar (CAD) is slightly weaker versus the US Dollar (USD), extending losses to levels last seen in mid-April as wider US-Canada yield spreads weigh.
Commerzbank’s Antje Praefcke expects the European Central Bank (ECB) to raise rates in June, largely as a symbolic move, with markets already pricing this in.
Gold (XAU/USD) struggles to attract buying interest on Wednesday, even as the US Dollar (USD) and Oil prices trade on the back foot, with markets remaining cautiously optimistic that the United States (US) and Iran could eventually reach a deal to end the war in the Middle East.
Bob Savage notes that BoJ Governor Kazuo Ueda frames current oil price shocks as a broad test of Japan’s inflation regime, amplified by Yen weakness and cost pressures.
USD/CAD gains traction on Wednesday as easing Oil prices pressure the Canadian Dollar (CAD), offsetting the impact of a softer US Dollar (USD) as traders digest fresh headlines surrounding a potential US-Iran peace deal.
Rabobank's Senior FX Strategist Jane Foley notes that AUD/NZD has pulled back sharply after hitting its highest level since 2013, putting the year-long uptrend at risk.
Brown Brothers Harriman’s (BBH) Elias Haddad notes improving risk sentiment as Iran-related worries ease, with Oil softer, US equities firmer and yields retracing.
Commerzbank’s Barbara Lambrecht highlights that the global Copper market showed a large surplus in Q1 2026 as refined output surged, especially in China and the DR Congo.
The Reserve Bank of New Zealand (RBNZ) delivered a clear hawkish hold on Wednesday, keeping the Official Cash Rate (OCR) unchanged at 2.25% while strongly signalling that rate hikes are likely in the coming months.
MUFG’s Derek Halpenny says rising European yields reflect expectations that the ECB will deliver a 25bp rate hike on 11 June, with baseline inflation projections set to be revised higher.
The Canadian Dollar (CAD) is experiencing a period of relative stagnation against the US Dollar (USD), failing to match the upward momentum seen across other major G10 currencies.
BNY’s Bob Savage highlights that the Reserve Bank of New Zealand (RBNZ) kept the Official Cash Rate (OCR) at 2.25% in a split decision but delivered a hawkish message, lifting its OCR path and inflation projections.
TD Securities’ Global Rates, FX & Commodities Strategy team reviews April Australian CPI, noting headline inflation undershot consensus while the trimmed mean matched expectations.
ING’s Frantisek Taborsky reports that the National Bank of Hungary held its base rate at 6.25% but signalled a dovish shift, with June cuts fully priced and markets now seeing a terminal rate near 5.25%.
The New Zealand Dollar (NZD) strengthens against the US Dollar (USD) on Wednesday after the Reserve Bank of New Zealand (RBNZ) delivered a hawkish hold at its latest monetary policy meeting, signaling that the Official Cash Rate (OCR) will likely need to rise sooner and by more than projected in the
Commerzbank’s Antje Praefcke highlights Riksbank member Per Jansson’s argument that weaker demand, higher policy rates and softer inflation allow Sweden to wait and see despite the Iran-related energy shock.
Iran's State TV reported that it has a draft of the initial unofficial framework of the Memorandum of Understanding with the United States (US).
Private-sector hiring in the US has cooled in early May. According to the NER Pulse, the weekly companion to the ADP National Employment Report, companies added an average of 35.75K jobs per week in the four weeks ending May 9.
Societe Generale’s commodity team notes Brent has lost its 50-day moving average and is testing support around $96.
BNY’s Bob Savage highlights that global equities extend gains on AI optimism and Iran peace talks.
Brown Brothers Harriman’s (BBH) Elias Haddad notes AUD/USD slid toward 0.7136 and is expected to settle closer to 0.7000, consistent with Australia–US 2‑year yield spreads.
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