United States 30-Year Bond Auction increased to 5.05% from previous 4.876%

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 posted losses of 0.19% in back-to-back bearish days after a red-hot US inflation report, piling pressure on UK Prime Minister Keir Starmer to resign from his job. The GBP/USD trades at 1.3513 after peaking at 1.3551.

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.

Ondo Finance (ONDO) is facing mounting selling pressure on Wednesday, trading below the pivotal $0.4000 threshold. After logging two consecutive days of declines and extending its correction from its May peak at $0.4877, ONDO is at risk of a deeper correction.

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.

United States EIA Crude Oil Stocks Change below forecasts (-2.1M) in May 8: Actual (-4.306M)

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%.

Scotiabank strategists Shaun Osborne and Eric Theoret note USD/CAD is steady around 1.3695, with the Canadian Dollar (CAD) seen as cheap versus a fair value estimate near 1.3510.

TD Securities strategists note Silver is maintaining its upside, trading resiliently despite higher energy prices. While recent CTA (Commodity Trading Advisors) buying has slowed, they see renewed interest from Chinese traders on SHFE (Shanghai Futures Exchange) and strong Chinese premiums.

GBP/JPY extends losses for the second consecutive day on Wednesday as the British Pound (GBP) comes under broad pressure, weighed down by rising political uncertainty in the United Kingdom.

Ripple (XRP) is rising on Wednesday alongside crypto majors including Bitcoin (BTC) and Ethereum (ETH). After testing support around $1.42 the previous day, the remittance token trades above $1.46, signaling easing selling pressure as technicals align for a potential range breakout above $1.50.

Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), rose to 6% on a yearly basis in April from 4.3% in March, the US Bureau of Labor Statistics (BLS) reported on Wednesday.

TD Securities’ Global Strategy Team says Australia’s 2026/27 Budget is slightly stimulatory, with looser fiscal policy and more upbeat Treasury forecasts than the RBA.

Germany Current Account n.s.a. increased to €23.6B in March from previous €22B

United States Producer Price Index (YoY) came in at 6%, above expectations (4.9%) in April