Societe Generale economist Kunal Kundu expects India’s August Consumer Price Index (CPI) inflation to rise to around 4.8% year-on-year from 4.4% in July, the highest reading under the new CPI series.

ING’s Chris Turner notes the Dollar has been unexpectedly soft despite higher energy prices and firm short-dated US rates ahead of the US August CPI and a likely 25bp Fed hike.

Private-sector hiring in the US has gained some pace in late August. According to the NER Pulse, the weekly companion to the ADP National Employment Report, companies added an average of 12K jobs per week in the four weeks ending August 22.

Nomura’s Anderson, Buckley and Szczepaniak expect the Swiss National Bank (SNB) to keep its 0.00% policy rate unchanged for the foreseeable future, with inflation below 1% and the neutral rate estimated at around 0%.

ING’s Frantisek Taborsky expects the Polish central bank to keep rates at 3.75% as Middle East tensions and higher Oil prices limit easing scope. Markets now price around 80bp of tightening, similar to the Czech Republic, but the NBP is less hawkish.

BNY Mellon’s Geoff Yu highlights Brent crude breaking above $100/barrel, with institutional investors rebuilding exposure to energy stocks while retail investors take profits.

Nomura’s analysts see Norges Bank delivering another rate hike in November as inflation remains sticky, before a 25 bp cut next year and further reductions beyond 2027 towards 3.50%.

Societe Generale’s Kenneth Broux and colleagues expect the NBP to keep rates unchanged at 3.75%, with Governor Glapiński emphasising flexibility and data dependence.

Nomura strategists expect Sweden’s central bank, the Riksbank to keep its policy rate on hold for the rest of 2026 and deliver only one 25 bp hike to 2.00% in early 2027.

EUR/CAD gains ground after two days of losses, trading around 1.6030 during the European hours on Wednesday.

Rabobank's Senior FX Strategist Jane Foley says speculation over a structural shift in Japanese Yen (JPY) valuation is challenging traditional carry trade assumptions and Japanese investors’ appetite for foreign assets.

TD Securities’ Molly Brooks analyzes how US rates markets are pricing the September Federal Reserve meeting, highlighting unusually high uncertainty around a potential hold or 25bp hike.

Nomura strategists expect the European Central Bank (ECB) to raise rates this week, taking the depo rate to 2.50%, and to keep it there for the foreseeable future.

Commerzbank’s Tatha Ghose expects Poland’s NBP to leave rates unchanged at 3.75% and sees the key question as whether the MPC formally drops earlier dovish language.

Deutsche Bank strategists note a broad-based decline in US equities, with the S&P 500 down 0.58% and more than 70% of its constituents lower.

USD/IDR extends its losses for the second successive day, trading around 17,570 during the early European hours on Wednesday.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is losing ground for the third consecutive day and trading around 98.80 during Asian hours on Wednesday.

AUD/JPY pares its daily losses following the release of key economic data from China, Australia's primary trading partner. However, the currency cross remains in negative territory and is trading around 111.00 during Asian hours on Wednesday.

China’s Consumer Price Index (CPI) climbed 0.8% in August from a year ago after arriving at a rise of 0.5% in Juuly, the National Bureau of Statistics of China reported on Wednesday. The market consensus was for 0.8% in the reported period.

China Consumer Price Index (MoM) registered at 0.4% above expectations (0.3%) in August

US President Donald Trump is banning Canadian products, including alcohol, dairy and motor vehicles, as Canadian retaliatory tariffs on American goods come into force, BBC reported on Tuesday.

West Texas Intermediate (WTI) oil price extends its gains for the third successive day, trading around $92.30 during the Asian hours on Wednesday. Crude oil prices rise as the US struck several Iranian tankers near Kharg Island, a major crude export hub.

OCBC’s Christopher Wong reports USD/CNH briefly fell to its lowest level since February 2023 before rebounding after the PBoC set a higher-than-expected daily fix.

TD Securities economists Oscar Munoz, Eli Nir, Gennadiy Goldberg and Molly Brooks expect August Core CPI to rise 0.19% m/m, with services driving gains and core goods offsetting. They project Core CPI at 2.3% y/y and Headline CPI steady at 3.4% y/y.

United States Consumer Credit Change registered at $18.06B above expectations ($11.7B) in July

Scotiabank strategists Shaun Osborne and Eric Theoret note that the Japanese Yen (JPY) is modestly firmer, with USD/JPY extending losses through prior intervention lows near 155, a move seen as technically significant and potentially pointing to further Yen gains.

Argentina Industrial Output n.s.a (YoY): -4.9% (July) vs previous 2%

Deutsche Bank’s UK Chart Of The Week, authored by Sanjay Raja, Shreyas Gopal and Maui Brennan, argues that UK fiscal consolidation since the 2024 election is primarily tax-driven and heavily backloaded.

Scotiabank strategists Shaun Osborne and Eric Theoret highlight a mixed US Dollar (USD) as markets weigh rising Oil prices, Japanese Yen (JPY) strength, and escalating US trade tensions.

United States 3-Year Note Auction climbed from previous 4.291% to 4.474%