Kit Juckes at Societe Generale argues that Swedish Krona (SEK) is poised to benefit from Sweden’s superior growth outlook and expected Riksbank tightening.

Commerzbank’s Antje Praefcke reviews the Hungarian Central Bank decision to keep the key rate at 5.50% while lowering its medium-term inflation target to 2.5% from 2028. The MNB slightly raised its 2027 inflation forecast and will move to eight policy meetings per year.

EUR/CAD halts its four day-winning streak, trading around 1.6090 during the European hours on Wednesday. The currency cross is under pressure as the Euro (EUR) holds losses following the release of the latest HCOB Purchasing Managers’ Index (PMI) data for Germany and the broader Eurozone.

DBS Group Research economist Philip Wee expects the Swiss National Bank to keep its policy rate unchanged at 0% at the September 24 meeting, despite higher energy prices and a modest uptick in headline inflation.

The United Kingdom (UK) S&P Global Composite Purchasing Managers' Index (PMI) expands at a moderate pace to 51.7 in September. The data was already anticipated to arrive lower at 52.0 from 52.5 in August.

USD/IDR loses ground for the second successive day, trading around 17,850 during European hours on Wednesday. The pair holds losses as the Indonesian Rupiah (IDR) remains subdued following the release of Bank Indonesia (BI) interest rate decision.

ING strategist Frantisek Taborsky says the National Bank of Hungary (NBH) delivered an expected pause in rate cuts and lowered its inflation target to 2.5%, creating a supportive backdrop for the Hungarian Forint.

Deutsche Bank strategists note that United States (US) equities finished virtually flat, as strength in technology and semiconductor stocks offset a sharp decline in financials.

Danske Research Team notes Brent crude trading near USD 98/bbl after six straight sessions of declines, with Oil acting as the dominant intraday driver for broader markets.

The GBP/USD pair attracts some sellers to around 1.3310 during the early European trading hours on Wednesday. The British Pound (GBP) weakens against the US dollar (USD) as the UK’s fiscal outlook has worsened, piling pressure on UK Chancellor John Healey ahead of the first budget. 

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is gaining ground for the third consecutive day and trading around 100.70 during Asian hours on Wednesday.

The preliminary reading of India’s HSBC Manufacturing Purchasing Managers Index (PMI) jumped to 55.7 in September versus 52.8 prior, the latest data published by S&P Global and HSBC Bank showed on Wednesday. 

Japanese Prime Minister Takaichi Sanae and US President Donald Trump have held a summit to enhance economic security partnership. The two leaders are in New York for a meeting of the United Nations General Assembly.

USD/IDR extends its losses for the second successive day, trading around 17,820 during Asian hours on Wednesday. Technical analysis of the daily chart suggests the pair remains within the ascending channel, indicating an ongoing bullish bias.

Asian equities trade mixed on Wednesday. Oil prices and Treasury yields dropped as crude flows through the Middle East improved, adding to risk appetite.

AUD/USD loses ground for the third consecutive day, trading around 0.7110 during Asian hours on Wednesday.

An explosion was heard near Qeshm Island in southern Iran's Hormozgan province, the official news agency IRNA reported on Tuesday.

Gold price (XAU/USD) rebounds to near $4,360 during the early Asian session on Wednesday. The precious metal edges higher amid hopes for diplomatic progress between the US and Iran. 

The preliminary reading of Australia's S&P Global Manufacturing Purchasing Managers Index (PMI) eased to 49.3 in September versus 52.0 prior, the latest data published by S&P Global showed on Wednesday.

Australia S&P Global Services PMI fell from previous 53.2 to 51.4 in September

Australia S&P Global Composite PMI fell from previous 52.7 to 50.8 in September

Australia S&P Global Manufacturing PMI: 49.3 (September) vs previous 52

OCBC strategists Sim Moh Siong and Christopher Wong note that the Renminbi (RMB) has extended gains, with USD/CNY breaking below 6.70 as the People's Bank of China (PBoC) strengthened the fix for nine straight sessions ahead of the Trump–Xi meeting.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann maintain a constructive short-term view on USD/SGD, noting recent sideways trade around 1.2760.

A Reuters poll revealed that all economists expect that the Mexican Central Bank, also known as Banxico, will hold rates unchanged at 6.50% for the third straight meeting.

The Bundesbank President and European Central Bank (ECB) member Joachim Nagel crossed the wires at a financial event in London, where he acknowledged that high energy prices had driven inflation off its 2026 target.

Commerzbank reports South Korea’s exports for the first 20 days of September jumped 78.3% year-on-year, extending nine months of double-digit growth and led by a 259% surge in semiconductor exports.

OCBC strategists Sim Moh Siong and Christopher Wong highlight that the Taiwan Dollar (TWD) has extended gains, briefly strengthening near 31.71 versus the US Dollar (USD), supported by strong foreign portfolio inflows and domestic equity outperformance tied to tech and AI themes.

United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann expect USD/CNH to edge lower intraday but stay confined to a narrow 6.6890–6.6960 range, with a clear break below 6.6890 seen as unlikely. Over one to three weeks, they see downside extending toward 6.6820 as momentum builds.

Richmond Federal Reserve (Fed) President Thomas Barkin said on Tuesday that the Federal Open Market Committee (FOMC) decided to raise interest rates last Wednesday because inflation risks outweighed those to maximum employment.