Tatha Ghose at Commerzbank expects Poland’s NBP to leave rates at 3.75%, with forwards already reflecting this. With inflation momentum near zero and energy-driven disinflation back, earlier hike bets have been unwound and some analysts now discuss potential easing from Q4 or March 2027.

According to the Iranian State Media, Iran's Top Joint Military Command said, “Tehran considers any location that supports United States (US) attacks on Iran as its legitimate target.” However, there has been no official confirmation from other media outlets.

Commerzbank’s Tatha Ghose notes Czech headline inflation fell to 1.5% year-on-year, below Czech National Bank (CNB) forecasts, with goods and energy prices soft but services still elevated.

Austria Trade Balance up to €-434.1M in April from previous €-563.3M

OCBC Bank’s Sim Moh Siong and Christopher Wong highlight that Oil and tech-led equity weakness have driven a stronger US Dollar, higher global yields and softer Gold.

Deutsche Bank’s Jim Reid highlights that Asian equities are mostly lower as investors digest a sharp escalation in US-Iran tensions and surging Oil prices. KOSPI is down over 5% and the Nikkei and S&P/ASX 200 are weaker, while mainland Chinese indices and the Hang Seng are firmer on tech gains.

South Africa Net $Gold & Forex Reserve declined to $71.338B in June from previous $73.467B

South Africa Gross $Gold & Forex Reserve : $74.115B (June) vs previous $76.58B

South Africa Net $Gold & Forex Reserve up to $71338B in June from previous $73.467B

South Africa Gross $Gold & Forex Reserve dipped from previous $76.58B to $74.12B in June

Sweden Industrial Production Value (MoM) down to 0.2% in May from previous 4.2%

Sweden Industrial Production Value (MoM) dipped from previous 4.2% to 0.6% in May

Sweden Industrial Production Value (YoY) fell from previous 7.1% to 6.9% in May

China has lifted refined fuel export restrictions for July and allowed a private refiner ‌to resume shipments after a four-month pause, Reuters reported on Wednesday, as the world’s biggest refiner returns toward normal after disruptions from the Iran war.

Sweden New Orders Manufacturing (YoY): 1.3% (May) vs previous 6.3%

USD/IDR gains ground after registering modest losses in the previous day, trading around 18,050 during the Asian hours on Wednesday.

Netherlands, The Consumer Spending Volume up to 1.8% in May from previous 1%

Indonesia Consumer Confidence dipped from previous 120.9 to 117.8 in June

The Iranian Islamic Revolutionary Guards Corps (IRGC) said on Wednesday that it “targeted 85 US military sites in Bahrain and Kuwait following the US ceasefire breach.

Iran's top negotiator Mohammad Bagher Ghalibaf accuses the United States (US), through a post on X, formerly known as Twitter, of violating major terms of the memorandum of understanding (MoU) signed for a ceasefire in the Middle East.

AUD/NZD declines after three days of gains, trading around 1.2170 during the Asian hours on Wednesday. The currency cross falls nearly 0.25% as the New Zealand Dollar (NZD) gains ground following the release of the interest rate decision by the Reserve Bank of New Zealand (RBNZ).

New Zealand RBNZ Interest Rate Decision in line with expectations (2.5%)

Reserve Bank of Australia (RBA) Assistant Governor Sarah Hunter said on Wednesday that the central bank will act as needed to bring inflation back to target, even as the recent oil shock has yet to produce a marked slowdown in economic activity.

Japan Trade Balance - BOP Basis down to ¥6.9B in May from previous ¥395.7B

Japan Bank Lending (YoY) came in at 5.7%, below expectations (5.8%) in June

Japan Current Account n.s.a. came in at ¥3.968B below forecasts (¥4121.3B) in May

Colombia Consumer Price Index (MoM) above expectations (0.35%) in June: Actual (0.39%)

Colombia Consumer Price Index (YoY) above forecasts (6.09%) in June: Actual (6.14%)

South Korea Current Account Balance: 38.61B (May) vs 28.29B

UOB’s Quek Ser Leang notes that the US Dollar against the Chinese Yuan has stayed within the previously flagged range, with only modest upward momentum despite a push toward 6.8000.