BNP Paribas explains that Thailand shifted from broad price freezes to targeted subsidies for vulnerable households and firms.
OCBC’s Christopher Wong notes USD/SGD has risen with broader USD/AXJ but the move has been milder, reflecting Singapore Dollar's (SGD) lower beta. Wong observes fading bearish momentum and moderated RSI, suggesting two-way trade.
Silver (XAG/USD) price extends its gains for the sixth consecutive day on Wednesday, up over 1.30%, despite US inflation might prevent the Federal Reserve (Fed) from cutting interest rates.
BNP Paribas economists note that Malaysia has kept stable the price of RON 95 fuel used mainly by households, limiting the fiscal impact of subsidies to about 0.2% of GDP if Oil stays below USD 100.
The US Dollar Index (DXY) rises toward the 98.50 region, reaching its highest level since late April after US Producer Price Index (PPI) data came in much hotter than expected.
Philip Lane, Member of the European Central Bank (ECB), told an audience in London on Wednesday that the propagation of the Iran shock may be more contained than in 2022, but stronger and faster than historical averages.
OCBC’s Christopher Wong reports South Korean Won (KRW) led declines in Asia FX, pressured by higher Oil, firmer UST yields, softer risk tone and heavy foreign equity outflows.
The European Central Bank (ECB) Chief Economist Philip Lane crossed the wires, saying that the energy shock caused by the Iran war will require a restrictive policy at a conference in London.
Gold (XAU/USD) price edges lower during Wednesday’s session following another high inflation print in the US: input prices for producers, which hit their highest level in four years. At the time of writing, the XAU/USD pair trades at $4,699, down some 0.30%.
BNP Paribas analyzes how Indonesia’s decision to cap fuel prices and increase subsidies leaves its public finances exposed if Brent Oil averages USD 92–100 in 2026.
Neel Kashkari, President of the Federal Reserve (Fed) Bank of Minneapolis, spoke at a St. Paul Area Chamber event in St. Paul, Minneapolis, on Wednesday. He said that the big question is how long the Strait of Hormuz will be closed and what effect will it have on inflation.
USD/JPY trades with a mild upside bias on Wednesday as the Japanese Yen (JPY) remains under pressure from a stronger US Dollar (USD) and rising Oil prices linked to the Middle East war, given Japan’s heavy reliance on imported energy.
USD/CAD trades without a clear direction on Wednesday, hovering around 1.3700 at the time of writing, as investors balance persistent US Dollar (USD) strength against support for the Canadian Dollar (CAD) from elevated Oil prices.
West Texas Intermediate (WTI) crude Oil fluctuates with minor losses on Wednesday, though prices remain supported by fears that disruptions through the Strait of Hormuz may persist longer than expected as US-Iran negotiations remain at an impasse.
The House Financial Services Committee (HFSC), chaired by Representative French Hill (R-AR), is the lower chamber's primary oversight body for banking, capital markets, housing finance, and monetary policy.
Dow Jones Industrial Average (DJIA) futures slipped onto the back foot through European and early US hours on Wednesday, struggling to hold above 49,500 after fading from overnight highs near 49,800.
The British Pound (GBP) posts a 0.19% loss against the US Dollar (USD) on Wednesday in back-to-back bearish days after a red-hot US inflation report, amid mounting pressure on UK Prime Minister Keir Starmer to resign.
BNY’s Geoff Yu notes that APAC (Asia-Pacific) currencies remains underowned outside the Korean Won (KRW) and Japanese Yen (JPY), as investors revisit the region for diversification but remain wary of inflation spillovers from China.
Silver (XAG/USD) advances on Wednesday and trades around $88.65 at the time of writing, up 2.40% on the day. The white metal remains supported by strong Asian demand, despite the rebound in the US Dollar (USD) and higher US Treasury yields, which generally limit the appeal of non-yielding assets.
Susan Collins, President of the Federal Reserve (Fed) Bank of Boston, spoke at a fireside chat at an event hosted by the Boston Economic Club on Wednesday.
Gold (XAU/USD) consolidates minor losses on Wednesday as the US Dollar (USD) extends its recovery amid persistent uncertainty over US-Iran talks and growing expectations that the Federal Reserve (Fed) could keep interest rates higher for longer.
Scotiabank strategists Shaun Osborne and Eric Theoret report EUR/USD trading softer near 1.1711, extending its recent downward drift as markets weigh US–Iran tensions and UK political risks alongside German reform uncertainty.
USD/JPY trades around 157.80 on Wednesday at the time of writing, up 0.13% on the day, as the US Dollar (USD) continues to benefit from renewed hawkish expectations surrounding the Federal Reserve’s (Fed) monetary policy outlook.
BNY’s Bob Savage notes Japanese 20-year yields have climbed to 1997 highs as JGBs track U.S. moves, with markets watching USD/JPY holding below 158. A record current account surplus and supportive comments from U.S. officials reinforce expectations for a BoJ rate hike in June.
Bank of England (BoE) Monetary Policy Committee (MPC) member Catherine Mann said on Wednesday that the trade off between inflation and activity is becoming "increasingly stark," per Reuters.
The Euro (EUR) trades under pressure against the US Dollar (USD) on Wednesday, with EUR/USD extending losses for a second consecutive day as uncertainty surrounding the US-Iran negotiations and hotter-than-expected US inflation data continue to support the Greenback.
The Bank of England (BoE) is expected to maintain a cautious stance as inflation remains above its target, according to a Reuters poll published on Wednesday.
The AUD/USD pair is trading at a neutral basis near the 0.7250 level after the US Producer Price Index (PPI) for April came in unexpectedly hot.
ING’s Chris Turner reports that Sterling weakened independently as UK politics took centre stage, with Prime Minister Keir Starmer facing potential leadership challenges from figures like Wes Streeting, Andy Burnham and Angela Rayner.
The United States (US) Producer Price Index jumped to 6% on a yearly basis in April, following the 4.3% posted in March and largely surpassing the expected 4.9%. On a monthly basis, the PPI rose 1.4%, doubling the March reading of 0.7%, and much higher than the anticipated 0.5%.