On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.8911 compared to the previous day's fix of 6.8943 and 6.8819 Reuters estimate.

The AUD/USD pair continues with its struggle to gain any meaningful traction and extends sideways consolidative price moves during the Asian session on Wednesday.

The EUR/USD pair gathers strength to near 1.1630 during the early Asian session on Wednesday. The Euro (EUR) edges higher against the US Dollar (USD) after reports that the United States (US) and Iran may hold high-level talks as soon as Thursday. 

GBP/USD is trading close to 1.3420 heading into Wednesday, holding onto most of the week's gains after a sharp round-trip from about 1.3250 on Monday's ceasefire-driven sell-off to near 1.3480 on Tuesday.

The USD/CHF advanced by 0.24% on Tuesday as geopolitical tensions remained high, even after reports of a one-month ceasefire, according to Al Arabiya, citing Israeli Channel 12. At the time of writing, the pair trades at 0.7881 after bouncing off daily lows of 0.7859.

AUD/USD is essentially flat for the trading week, hovering close to 0.7000 after a volatile few sessions that saw the pair swing from above 0.7120 to about 0.6910 and back again.

The NZD/USD pair is trading near 0.5840 with a neutral bias, edging slightly higher on the day but failing to gain strong bullish traction as the US Dollar (USD) remains relatively firm.

The Australian Bureau of Statistics (ABS) will release the Consumer Price Index (CPI) for February on Wednesday at 00:30 GMT, with inflation expected to hold steady at 3.8% YoY and come in flat on a monthly basis.

The Euro (EUR) trades under pressure against the US Dollar (USD) on Tuesday, as heightened geopolitical risks surrounding the US-Israel war with Iran continue to underpin demand for the Greenback.

The EUR/JPY cross is trading in a neutral zone near 184.00 after the Eurozone Purchasing Manager Index (PMI) data indicated a significant loss of economic momentum in the region.

The Canadian Dollar (CAD) trades under pressure against the US Dollar (USD) on Tuesday, as the Greenback edges higher and trims part of the previous day’s decline. At the time of writing, USD/CAD is trading around 1.3765, hovering near fresh two-month highs.

The Pound Sterling falls by 0.16% on Tuesday as the Greenback advances, underpinned by a recovery in energy prices and rising US Treasury yields, as markets do not expect the Federal Reserve to cut rates in 2026. The GBP/USD trades at 1.3400 after hitting a daily high of 1.3445.

USD/JPY trades around 158.70 on Tuesday at the time of writing, up 0.16% on the day, supported by a US Dollar (USD) that maintains a bullish bias amid ongoing geopolitical and economic uncertainty.

The Euro (EUR) recovers modestly against the US Dollar (USD) on Tuesday, helping EUR/USD trim part of its earlier losses as the Greenback pulls back slightly from intraday highs following the latest S&P Global Purchasing Managers Index (PMI) release.

Scotiabank analysts say the Pound is slightly softer against the Dollar, consolidating near 1.34 after a recovery from mid‑March lows.

TD Securities highlights the ECB Watchers’ Conference as a key platform for policymakers to discuss geopolitical risks and Eurozone monetary policy. The bank expects officials to reiterate that the ECB is ready to act but needs more time to assess risks.

Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is little changed, with USD/CAD stretching its recent range but failing to sustain moves above the mid‑1.37s.

AUD/USD falls sharply on Tuesday, trading around 0.6950 at the time of writing, under pressure amid a renewed wave of risk aversion across global markets, supporting safe-haven assets, particularly the US Dollar (USD).

GBP/JPY trades in a narrow range on Tuesday with a mild downside bias, as the British Pound (GBP) weakens following weaker-than-expected UK business activity data. At the time of writing, the cross is trading near 212.50, reversing earlier gains driven by Japan’s softer inflation data.

EUR/GBP trades around 0.8650 on Tuesday, holding steady on the day as investors digest a series of weaker-than-expected activity releases in both the Eurozone and the United Kingdom (UK), pointing to a clear slowdown in growth.

BNY's Head of Markets Macro Strategy Bob Savage relays comments from RBNZ Governor Anna Breman, who expects the Middle East conflict to lift near‑term headline inflation and weaken New Zealand’s growth momentum.

Brown Brothers Harriman’s (BBH) Elias Haddad highlights that USD/JPY is trading directionless just below 159.00 as Japanese inflation slowed in February but is expected to rebound.

Germany 5-y Note Auction: 2.72% vs 2.4%

Eurozone HCOB Services PMI came in at 50.1 below forecasts (51) in March

Eurozone HCOB Composite PMI below forecasts (51.1) in March: Actual (50.5)

Eurozone HCOB Manufacturing PMI came in at 51.4, above expectations (49.5) in March

OCBC strategists Sim Moh Siong and Christopher Wong stay constructive on the Australian Dollar (AUD) despite recent risk-off pressure from higher energy prices. They highlight above-target inflation, resilient domestic activity and a more hawkish Reserve Bank of Australia (RBA) as key supports.

ING economist Chris Turner notes EUR/GBP remains offered despite sharp declines in UK short‑dated rates, with clear technical support at 0.8600/0.8620 that markets expect to hold.

Germany HCOB Services PMI came in at 51.2 below forecasts (52.5) in March

Germany HCOB Manufacturing PMI above forecasts (49.8) in March: Actual (51.7)