Commerzbank’s Antje Praefcke expects Swedish inflation to stay below target and sees little chance of a near-term Riksbank cut.

Societe Generale analysts highlight that AUD/USD has broken out of consolidation and is in a steady uptrend, supported by its 50‑DMA. The bank notes bullish momentum with a potential return towards 0.72 and upside targets at 0.7220/0.7250 and 0.7400.

ING’s Francesco Pesole highlights that hawkish comments from ECB officials, including President Lagarde and Peter Kazimir, have reinforced market pricing for a rate hike within six months, though ING still sees this as a lower-probability scenario.

Silver price (XAG/USD) remains flat after experiencing modest volatility, trading around $87.20 per troy ounce during the European hours on Wednesday. The safe-haven Silver may lose ground amid optimism that the Middle East conflict may have a smaller impact on inflation than initially feared.

USD/JPY gains ground for the second successive session, trading around 158.30 during the European hours on Wednesday. The pair appreciates as the Japanese Yen (JPY) struggles due to uncertainty surrounding the Bank of Japan (BoJ) policy outlook.

ING’s Francesco Pesole points out the Canadian Dollar is the best-performing G10 currency since the conflict started, supported by resilient equities and Canada’s energy exporter status.

Here is what you need to know on Wednesday, March 11:

GBP/USD gains ground after registering little losses in the previous session, trading around 1.3450 during the Asian hours on Wednesday. The Pound Sterling (GBP) strengthens against its peers amid optimism that the Middle East conflict may have a smaller impact on inflation than initially feared.

The USD/CAD pair sticks to its modest intraday losses through the early European session on Wednesday and currently trades just above mid-1.3500s, down nearly 0.15% for the day. Spot prices, meanwhile, remain close to a nearly one-month low, touched on Monday, and seem vulnerable to slide further.

Germany Harmonized Index of Consumer Prices (YoY) meets forecasts (2%) in February

Germany Consumer Price Index (YoY) remains unchanged at 1.9% in February

Germany Consumer Price Index (MoM) in line with expectations (0.2%) in February

Germany Harmonized Index of Consumer Prices (MoM) meets forecasts (0.4%) in February

The USD/CHF pair loses ground to near 0.7765 during the early European trading hours on Wednesday. Ongoing Middle East tensions continue to boost a safe-haven currency such as the Swiss Franc (CHF) against the US Dollar (USD).

The AUD/USD pair extends the rally to around 0.7170 during the early European trading hours on Wednesday. The Australian Dollar (AUD) rises to near a three-year high against the Greenback amid hawkish expectations of the Reserve Bank of Australia (RBA). 

The EUR/JPY cross gains ground to near 183.90 during the early European session on Wednesday. The Japanese Yen (JPY) softens against the Euro (EUR) amid market doubt about the speed of the Bank of Japan (BoJ) normalization.

The AUD/JPY cross gains strong positive traction for the fourth consecutive day and continues scaling new all-time tops through the Asian session on Wednesday. Spot prices currently trade around mid-113.00s, up 0.90% for the day, and seem poised to prolong the recent well-established uptrend.

EUR/USD pares its recent losses registered in the previous session, trading around 1.1630 during the Asian hours on Wednesday. Daily chart technical analysis indicates a bearish bias as the pair continues to trade within a descending channel pattern.

The US Bureau of Labor Statistics (BLS) will publish the February Consumer Price Index (CPI) data on Wednesday. The report is expected to show a stabilization in inflation, still above the Federal Reserve’s (Fed) 2% target.

NZD/USD remains in the negative territory after giving up daily gains, trading around 0.5930 during the Asian hours on Wednesday. However, the pair advanced as the New Zealand Dollar (NZD) strengthened amid rising Reserve Bank of New Zealand (RBNZ) rate hike bets in 2026.

The USD/CAD pair continues with its struggle to register any meaningful recovery from a nearly one-month low, around the 1.3525 zone, set earlier this week, and remains on the back foot through the Asian session on Wednesday.

The USD/JPY pair gathers strength to around 158.30 during the early Asian session on Wednesday. The Bank of Japan (BoJ) policy uncertainty weighs on the Japanese Yen (JPY) against the US Dollar.

The GBP/USD pair attracts fresh buyers during the Asian session on Wednesday and stalls the previous day's retracement slide from the 1.3485 region, or over a one-week high. Spot prices currently trade around the 1.3430 region, up 0.10% for the day.

On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.8917 compared to the previous day's fix of 6.8982 and 6.8824 Reuters estimate.

The EUR/USD pair holds positive ground around 1.1620 during the early Asian session on Wednesday. The Euro (EUR) rebounds from a four-month low of 1.1507 against the Greenback as safe-haven demand softens.

The NZD/USD pair is trading near the 0.5930 price region, reversing its intraday gains late in the American session.

The Aussie Dollar surges nearly 1% on speculation that the Reserve Bank of Australia is expected to raise rates at the March meeting. At the time of writing the AUD/USD trades at 0.7131, after refreshing three-year high at 0.7168.

NZD/USD trades around 0.5955 at the time of writing on Tuesday, gaining 0.35% on the day as the US Dollar (USD) softens across the board.

Nomura’s Global Markets Research Team highlights that Swedish inflation has undershot consensus for four months, but renewed energy price pressures from the Iran conflict could offset this.

The Japanese Yen (JPY) trades flat against the US Dollar (USD) on Tuesday, with USD/JPY giving up earlier gains as the Greenback edges lower.