Societe Generale economists expect the BoC to keep its policy rate at 2.25%, despite weaker employment and lower CPI. Markets now price about 33 bps of tightening by year-end after the Iran conflict.

USD/JPY remains under pressure for a third straight session, trading near 159.00 during Asian hours on Wednesday.

The Bank of Canada (BoC) is widely expected to keep its policy rate unchanged at 2.25% at its Wednesday meeting, effectively extending the pause it signalled back in January.

MUFG’s Derek Halpenny expects the FOMC to keep policy options open, with limited changes to the Summary of Economic Projections and no alteration to the median dot profile. MUFG anticipates balanced Fed communication and subdued FX and rates volatility.

ING commodities strategists Warren Patterson and Ewa Manthey report that Gold is trading in a narrow range as the US‑Israeli conflict with Iran extends. A firmer Dollar and higher real yields offset safe‑haven demand from Middle East tensions.

Danske Research Team highlights that USD/CAD remains confined between 1.36 and 1.37 as risk-off sentiment offsets support from Canada’s net energy exporter status.

West Texas Intermediate (WTI) oil price has given up its recent gains from the previous session, trading around $93.20 per barrel during the Asian hours on Wednesday. Traders are awaiting the US Energy Information Administration (EIA) report due later on Wednesday for fresh cues on supply trends.

Commerzbank’s Michael Pfister analyses EUR/USD options, noting that since the Iran conflict the relationship between implied volatility and risk reversals has reverted towards its pre–"Liberation Day" pattern.

The EUR/USD pair faces slight pressure near 1.1550 during the European trading session on Wednesday after a two-day recovery move. The major currency pair struggles as the US Dollar strives to regain ground ahead of the Federal Reserve’s (Fed) monetary policy announcement at 18:00 GMT.

Deutsche Bank analysts highlight that Brent Oil remains above $100 but daily trading ranges have narrowed, signalling some easing in volatility.

Austria HICP (YoY) increased to 2.3% in February from previous 2%

Austria HICP (MoM) meets forecasts (0.8%) in February

Here is what you need to know on Wednesday, March 18:

South Africa Consumer Price Index (MoM) rose from previous 0.2% to 0.4% in February

South Africa Consumer Price Index (YoY) dipped from previous 3.5% to 3% in February

UBS' Chief Economist Paul Donovan notes that the Federal Reserve is widely expected to keep policy unchanged, with attention centered on Fed Chair Powell’s press conference. Markets are looking for Powell’s reaction to Oil prices, the war and implications for US retail gasoline.

UOB analysts note the broad Dollar index DXY fell for a second day to 99.57 as traders positioned ahead of the Fed decision and reacted to geopolitical tensions around Iran.

China's foreign ministry said during the European trading session on Wednesday that it will provide updates about the delay in United States (US) President Donald Trump’s meeting with Chinese leader Xi Jinping.

Commerzbank strategist Hauke Siemßen argues that ECB expectations will dominate trading, with forwards now fully pricing the first rate hike by September and only a 50% chance of another move by year-end.

OCBC strategists Sim Moh Siong and Christopher Wong revise their Brent Oil profile higher as the US–Iran conflict keeps the Strait of Hormuz effectively shut and Oil flows near a standstill.

The NZD/USD pair strives to extend its recovery move above 0.5870 during the European trading session on Wednesday. The Kiwi trades higher as the US Dollar (USD) struggles to gain ground ahead of the Federal Reserve’s (Fed) monetary policy announcement at 18:00 GMT.

Pi Network (PI) edges below $0.1800 at press time on Wednesday, extending the 10% drop from the previous day. A surge in social chatter around the PI token aligns with this drop, suggesting a bearish incline in retail sentiment.

TD Securities stategists expect the Bank of Canada to keep its overnight rate at 2.25% with a cautious tone, as growth and inflation run below projections. They highlights elevated uncertainty and new inflation risks from the Iran conflict and higher Oil prices.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its losing streak for the third successive session and trading around 99.50 during the early European hours on Wednesday.

Silver price (XAG/USD) holds positive ground near $79.90 during the early European session on Wednesday. Escalating tensions in the Middle East push demand toward safe-haven assets like silver.

Danske Research Team notes that EUR/USD moved back above 1.15 as US Treasury yields declined and risk sentiment recovered. The bank does not expect the upcoming FOMC meeting to significantly alter the EUR/USD outlook, seeing the Federal Reserve in a wait-and-see mode regarding the Iran conflict.

Zcash (ZEC) is trading above $280 at the time of writing on Wednesday, after breaking above the descending trendline earlier this week.