Eurozone Gross Domestic Product s.a. (QoQ) meets forecasts (0.1%) in 1Q

Eurozone Gross Domestic Product s.a. (YoY) meets forecasts (0.8%) in 1Q

Commerzbank highlights that Brent crude surged 3.4% to around USD107.77 as supply disruptions in the Persian Gulf intensified. Satellite imagery shows Iranian exports from Kharg Island nearly halted, with tankers used as floating storage.

GBP/JPY pares its daily gains, trading around 213.60 during the Asian hours on Wednesday.

Turkey Current Account Balance came in at $-9.872B below forecasts ($-9.6B) in March

UOB strategists Quek Ser Leang and Lee Sue Ann see AUD/USD consolidating after a brief dip to 0.7209, with intraday trade expected between 0.7215 and 0.7255. The firm underlying tone suggests the pair could edge higher in the coming 1–3 weeks, though gains are seen limited below 0.7280.

France Inflation ex-tobacco (MoM) unchanged at 1% in April

Danske Research Team notes global equities slipped modestly, with the S&P500, Nasdaq and Russell2000 all lower. Semi-conductors in the S&P500 underperformed after a strong prior run, while defensive sectors such as healthcare and staples led gains.

European Central Bank (ECB) Governing Council member and Governor of the Bank of France, François Villeroy de Galhau, said on Wednesday that the central bank must be ready to intervene in the second round effects.

France ILO Unemployment above expectations (7.8%) in 1Q: Actual (8.1%)

The USD/CHF pair trades on a flat note around 0.7805 during the early European trading hours on Wednesday. Traders await the key US inflation data and continue to assess the developments surrounding US-China talks later this week. 

Ahead of US President Donald Trump’s state visit to China, US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng will hold economic and trade negotiations in South Korea on Wednesday, the South China Morning Post reported on Wednesday.

New Zealand's (NZ) inflation expectations rose on a 12-month time frame and on a two-year time frame for the second quarter of 2026, the Reserve Bank of New Zealand’s (RBNZ) latest monetary conditions survey showed on Wednesday.

New Zealand RBNZ Inflation Expectations (QoQ): 2.53% (2Q) vs 2.37%

South Korea Money Supply Growth fell from previous 8% to 7.2% in March

The Indian government has raised import tariffs on gold and silver to 15% from 6%, in an attempt to discourage the purchase of precious metals due to ease pressure on the nation’s foreign exchange reserves, Reuters reports.

The Organization for Economic Co-operation and Development (OECD) projected the Bank of Japan (BoJ) will raise its policy rate to 2.0% by end-2027 from 0.75% currently, supported by higher inflation expectations, solid wage growth and a closed output gap.

Australia Wage Price Index (YoY) meets forecasts (3.3%) in 1Q

Australia Wage Price Index (QoQ) meets forecasts (0.8%) in 1Q

Australia Investment Lending for Homes declined to -3% in 1Q from previous 7.9%

Australia Home Loans fell from previous 10.6% to -4.3% in 1Q

New Zealand's Prime Minister Christopher Luxon said that global uncertainties from the Middle East conflict reinforced the need for responsible economic management and fiscal discipline, Reuters reported on Wednesday.

Japan Trade Balance - BOP Basis climbed from previous ¥2709B to ¥3900B in March

Japan Bank Lending (YoY) registered at 5.4% above expectations (4.6%) in April

Japan Current Account n.s.a. registered at ¥4.682B, below expectations (¥3879B) in March

TD Securities’ Chief US Macro Strategist Oscar Munoz argues that 2026 US labor data suggest Artificial Intelligence is only modestly affecting employment so far. He highlights that AI adoption remains low across industries and concentrated in large, knowledge-intensive firms.

Commerzbank strategists note that USD/MYR has remained in a 3.90–4.05 range since the Middle East conflict began. Malaysia’s March industrial production grew 3.1% year-on-year, supported by strong manufacturing and electronics despite weaker mining.

Standard Chartered’s Christopher Graham notes that European Union (EU) exports to the United States (US) are now contracting at rates comparable to COVID and GFC (Great Financial Crisis) periods, potentially reflecting both prior export frontloading and emerging structural weakness.

Commerzbank’s Norman Liebke highlights that EU ETS reform, including new benchmark calculations, could significantly raise costs for European Aluminium recyclers and refineries.

DBS' Senior Economist Ma Tieying revises her Taiwan policy rate outlook after upgrading 2026 Gross Domestic Product (GDP) and Consumer Price Index (CPI) forecasts. She now expects a 12.5bps hike in 3Q, taking the policy discount rate from 2.00% to 2.125%.