DBS Group Research’s Radhika Rao highlights India’s fiscal response to elevated global energy prices and Rupee weakness.

USD/JPY trades in a narrow range on Wednesday, as the Japanese Yen (JPY) struggles to capitalize on a softer US Dollar (USD). At the time of writing, the pair is trading around 158.50 after retreating from the 160.00 handle touched earlier this week.

DXY fell more than 0.5% on Wednesday, drifting into session lows around 99.30 after opening close to 99.90. The index has been under steady selling pressure all session, carving a series of lower highs on the intraday chart as the ceasefire narrative gained traction.

The Dow Jones Industrial Average climbed around 400 points on Wednesday, or roughly 0.9%, as equities extended their rally into a second session on growing hopes that an end to the US-Iran conflict may be in sight.

The US Dollar (USD) kept its bearish impulse well in place for the second day in a row on Wednesday, this time retreating from recent multi-month tops on the back of the marked improvement in the risk-associated universe and rising hopes of a potential end to the conflict in the Middle East sooner r

AUD/USD advances on Wednesday and trades around 0.6940 at the time of writing, up 0.56% on the day. The pair rebounds, supported by improving risk sentiment that weighs on the US Dollar (USD).

The quantum threat had for a long time been regarded as distant or a hypothetical risk until Google’s Quantum AI whitepaper, released earlier this week, revealed that resources required to break Elliptic Curve Cryptography (ECC)—the bedrock of Bitcoin (BTC) and Ethereum (ETH)– are 20x lower than pre

The Pound Sterling advances over 0.70% on Wednesday as risk appetite improved amid speculation of an end to the Middle East conflict, following US President Trump's statement, "We're going to be out of Iran pretty quickly." The GBP/USD trades above 1.3300 after bouncing off daily lows of 1.3216.

USD/CAD trades with a softer tone on Wednesday, as a pullback in the US Dollar (USD) lends support to the Canadian Dollar (CAD). The pair is trading around 1.3891 at the time of writing, retreating after touching its highest level since December 2025 earlier this week.

ABN AMRO's Senior Economist Bill Diviney notes Eurozone inflation rose to 2.5% year-on-year in March, driven mainly by higher petrol and energy prices, while core inflation eased to 2.3%.

Rabobank’s Senior FX Strategist Jane Foley notes that Norges Bank has shifted to a more hawkish stance as Norwegian inflation proves sticky. January and February CPI data surprised on the upside, prompting markets to move from expecting rate cuts to pricing in further tightening.

Deutsche Bank analysts Shreyas Gopal and Sanjay Raja note that UK consumer confidence in March 2026 was surprisingly resilient, sitting between levels seen at the onset of Covid and the 2022 energy shock.

TD Securities analysts expect the March US labor report to show a normalization in Nonfarm Payrolls (NFP), with headline gains of 30k, private NFP at 40k and a -10k drag from government jobs.

Ripple (XRP) is trading above $1.35 at the time of writing on Wednesday, rising from its daily open of $1.34. Despite the remittance token securing support above the $1.35 level after edging higher for the second consecutive day, overall retail and institutional demand remains subdued.

Commerzbank economists Bernd Weidensteiner and Christoph Balz assess how the recent surge in Brent and WTI prices affects the US economy. They stress that the United States is structurally less vulnerable than in the 1970s thanks to lower oil intensity and higher domestic production.

United States EIA Crude Oil Stocks Change registered at 5.451M above expectations (2M) in March 27

HSBC’s Willem Sels and Lucia Ku maintain a positive six‑month view on US equities and USD investment grade credit. They highlight the United States’ status as an energy exporter, robust projected earnings growth, and strong technology and AI‑related investment.

EUR/USD extends its advance for a second consecutive day on Wednesday, climbing to one-week highs as improving optimism around the US-Iran war lifts risk sentiment, pushing the Euro (EUR) higher and weighing on the US Dollar (USD).

ABN AMRO's Senior Economist Bill Diviney argues the ECB is likely to raise rates at its April and June meetings, taking the deposit rate to 2.50% to prevent de-anchoring of inflation expectations.

United States Business Inventories came in at -0.1%, below expectations (0.1%) in January

United States ISM Manufacturing PMI registered at 52.7 above expectations (52.5) in March

United States ISM Manufacturing New Orders Index: 53.5 (March) vs previous 55.8

United States ISM Manufacturing Employment Index: 48.7 (March) vs previous 48.8

United States ISM Manufacturing Prices Paid registered at 78.3 above expectations (73) in March

Rabobank’s Senior FX Strategist Jane Foley argues that higher energy prices and a more hawkish Norges Bank stance are supportive for the Norwegian Krone (NOK). Norway’s strong Oil and gas export position and limited domestic vulnerability to the current energy crisis underpin NOK resilience.

United States S&P Global Manufacturing PMI came in at 52.3 below forecasts (52.4) in March

Silver (XAG/USD) trades around $75.00 on Wednesday, edging slightly lower at the time of writing, as the precious metal pauses after a strong three-day recovery.