Turkey Consumer Confidence rose from previous 85 to 85.5 in April

MUFG's Senior Currency Analyst Lloyd Chan notes that stalled US–Iran talks and an extended United States (US) ceasefire have shifted the conflict into a prolonged standoff, with a continued blockade of Iranian ports.

United Kingdom Producer Price Index - Input (YoY) n.s.a up to 5.4% in March from previous 0.5%

United Kingdom Core Consumer Price Index (YoY) came in at 3.1%, below expectations (3.2%) in March

United Kingdom Retail Price Index (MoM) came in at 0.8%, above expectations (0.7%) in March

United Kingdom Producer Price Index - Output (YoY) n.s.a up to 2.6% in March from previous 1.7%

United Kingdom Producer Price Index - Output (MoM) n.s.a below expectations (1%) in March: Actual (0.9%)

United Kingdom Producer Price Index - Input (MoM) n.s.a above expectations (2.8%) in March: Actual (4.4%)

United Kingdom Retail Price Index (YoY) above expectations (3.9%) in March: Actual (4.1%)

United Kingdom Consumer Price Index (YoY) in line with expectations (3.3%) in March

United Kingdom Consumer Price Index (MoM) came in at 0.7%, above forecasts (0.6%) in March

EUR/GBP extends its losses for the second successive day, trading around 0.8690 during the Asian hours on Wednesday. The currency cross remains subdued ahead of the United Kingdom’s (UK) March Consumer Price Index (CPI) data release.

The European Central Bank (ECB) Governing Council member Martins Kazaks said on Wednesday that the central bank has ‘luxury’ to wait on interest rate rises.

Netherlands, The Consumer Confidence Adj dipped from previous -30 to -44 in April

Asian equities perform mixed amid uncertainty over US–Iran peace talks. US Vice President JD Vance canceled his visit to Islamabad after Tehran declined talks via Pakistan.

According to a report from The Wall Street Journal (WSJ), the United States (US) has suspended shipments of US Dollars (USDs) to Iraq, which were proceeds from Federal Reserve Bank of New York accounts against oil sales, in an attempt to cripple an Iran-backed military group in Baghdad.

The United Kingdom (UK) Office for National Statistics (ONS) will publish the high-impact Consumer Price Index (CPI) data for March at 06:00 GMT. 

Australia Westpac Leading Index (MoM): -0.1% (March) vs previous -0.08%

Japan Adjusted Merchandise Trade Balance: ¥90.7B (March) vs ¥-374.2B

Japan Exports (YoY) above forecasts (11%) in March: Actual (11.7%)

Japan Merchandise Trade Balance Total below forecasts (¥1106B) in March: Actual (¥667B)

Japan Imports (YoY) registered at 10.9% above expectations (7.1%) in March

Gold price (XAU/USD) attracts some sellers to around $4,720 during the early Asian session on Wednesday. The precious metal falls as renewed Strait of Hormuz disruption stokes inflation concerns. 

BNY’s Bob Savage highlights South Korea’s powerful export rebound, led by semiconductors and strong shipments to China and the U.S., generating a sizeable trade surplus.

OCBC strategists Sim Moh Siong and Christopher Wong highlight that USD/TWD has been grinding lower, supported by strong Taiwan equities, foreign inflows and robust tech exports. They note Taiwan Dollar (TWD) is re-coupling with the technology cycle and remains fundamentally supported.

BNY’s Bob Savage reports that Japan’s Financial System Report judges the banking system broadly stable, with sufficient capital to withstand severe stress scenarios.

South Korea Producer Price Index Growth (MoM) increased to 1.6% in March from previous 0.6%

South Korea Producer Price Index Growth (YoY) up to 4.1% in March from previous 2.4%

Commerzbank’s Charlie Lay and Henry Hao note that the People's Bank of China (PBoC) kept benchmark lending rates at record lows for an 11th straight month, with the one-year LPR at 3.0% and five-year at 3.5%.

BNY’s Bob Savage notes that New Zealand’s Consumer Price Index (CPI) accelerated to 0.9% q/q, keeping annual inflation at 3.1%, with strong non-tradeable components such as electricity and local authority rates.