Deutsche Bank’s Jim Reid describes a volatile session for US equities, with a sharp intraday tech sell-off largely reversing by the close. The S&P 500 and NASDAQ finished modestly lower, while semiconductors underperformed.

Austria Industrial Production (YoY) fell from previous 1.7% to 0.6% in April

EUR/JPY extends its gains for the third successive day, trading around 185.30 during the early European hours on Wednesday.

Commerzbank’s Charlie Lay reports that Bank Indonesia delivered a surprise off-cycle 25 bp hike to 5.50%, reinforcing its focus on Rupiah stability through higher rates and FX intervention.

Danske Research Team notes that major equity indices fell, led by weakness in the tech sector, which has dropped about 7% since Friday despite a modest rebound on Monday.

Sweden New Orders Manufacturing (YoY) up to 6.3% in April from previous -7.3%

Sweden Industrial Production Value (YoY): 7.1% (April) vs 3%

Sweden Industrial Production Value (MoM) rose from previous -2% to 4.2% in April

The USD/CNH pair trades slightly lower to near 6.7750 during the early European trading session on Wednesday. The pair faces selling pressure due to continued outperformance by the Chinese Yuan (CNY), being a trade surplus economy.

A Reuters poll showed on Wednesday that roughly two-thirds of economists expect the Bank of Japan (BoJ) to hike the policy rate to 1.50% by the second quarter (Q2) next year. That brings forward the expectations of such a target, which was projected for Q3 next year in May.

Gold prices fell in India on Wednesday, according to data compiled by FXStreet.

Netherlands, The Manufacturing Output (MoM) declined to 1.4% in April from previous 2.8%

Indonesia Consumer Confidence dipped from previous 123 to 120.9 in May

China Consumer Price Index (MoM) came in at -0.1%, above expectations (-0.2%) in May

China Producer Price Index (YoY) came in at 3.9%, above expectations (3.8%) in May

China Consumer Price Index (YoY) below forecasts (1.3%) in May: Actual (1.2%)

AUD/USD extends its losses for the second successive day, trading around 0.7020 during the Asian hours on Wednesday. Traders will likely await the release of Consumer Price Index (CPI) and Producer Price Index (PPI) data for May from China, Australia’s close trading partner, due later in the day.

Japan Producer Price Index (MoM) above forecasts (0.5%) in May: Actual (0.9%)

Japan Producer Price Index (YoY) above forecasts (5.5%) in May: Actual (6.3%)

The United States (US) officials said that the second round of strikes in Iran is taking place now, targeting air defense and radar systems, Axios reported early Wednesday.

Argentina Industrial Output n.s.a (YoY) declined to -2.8% in April from previous 5%

United States 3-Year Note Auction climbed from previous 3.965% to 4.192%

United States (US) President Donald Trump claimed that last night, Iranians shot down a US military Apache helicopter while patrolling the Strait of Hormuz.

United States 52-Week Bill Auction climbed from previous 3.65% to 3.75%

UOB’s Enrico Tanuwidjaja and Vincentius Ming Shen note that Indonesia’s FX reserves fell further in May as Bank Indonesia (BI) stepped up interventions to support the Rupiah, which has weakened sharply year-to-date.

Rabobank describes Canada’s economy as fragile, with back-to-back quarterly contractions marking a technical recession and weak investment and trade dragging growth.

Brown Brothers Harriman’s (BBH) Elias Haddad reports that USD/CNH is falling toward support at its June multi-year low as broad Dollar weakness combines with China’s stronger-than-expected trade surplus, driven by AI-related exports and semiconductor imports.

Commerzbank’s Charlie Lay explains that Korean authorities announced new measures to support the Korean Won, including tighter oversight of offshore FX derivatives, scrutiny of suspected misconduct, and expanded FX hedging by the National Pension Service via USD forward selling.

United States Wholesale Inventories above forecasts (0.5%) in April: Actual (0.6%)

United States Existing Home Sales (MoM) came in at 4.17M, above expectations (4.07M) in May