BNY’s Geoff Yu notes Eurozone PMIs have surprised to the upside, with the composite at an eight‑month high and services back in expansion, easing immediate stagflation worries.

Standard Chartered Bank economists Saurav Anand and Anubhuti Sahay note that India’s Monetary Policy Committee (MPC) kept the repo rate at 5.25% with a neutral stance, sounding more dovish than in April and June.

Commerzbank’s Tatha Ghose explains that the Hungarian Forint (HUF) has recently given back gains as external shocks and an ongoing Magyar Nemzeti Bank (MNB) easing cycle erode support.

Nordea’s Chief Analyst Jan Størup Nielsen notes that Nationalbanken did not intervene in July to support Denmark’s fixed exchange rate policy, after a small purchase of kroner in June.

EUR/CAD continues its winning streak that started on July 24, trading around 1.6240 during the European hours on Wednesday. The currency cross rises as the Euro (EUR) receives support following the release of HCOB Purchasing Managers’ Index (PMI) data from Germany and the Eurozone.

On Wednesday, we’ll get the latest read on the US services sector when the Institute for Supply Management (ISM) publishes its July gauge. Consensus points to a marginal improvement to 54.5 from June’s 54.

Japan Finance Minister (FM) Satsuki Katayama said during the European trading session on Wednesday that the government's tax policy would be able to cool down high inflation.

The Automatic Data Processing (ADP) Research Institute will release its monthly report on private-sector job creation for July on Wednesday.

Deutsche Bank strategists highlight a broad-based rally in global equities as lower Oil prices, easing inflation expectations and resilient US data support risk appetite. The S&P 500 and major European indices hit or approached record highs, while Asian benchmarks also advanced.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann analysts report GBP/USD traded quietly between 1.3423 and 1.3456 after a prior spike to 1.3506. They expect near‑term consolidation in a 1.3425–1.3470 band.

Danske Research Team describes a strong global equities session driven by reduced downside risks rather than upgraded growth expectations. Easing concerns over the Iran conflict and the AI bubble compressed risk premia, lifting global equities close to a 15% year‑to‑date return.

The Indian Rupee (INR) surrenders mild gains after a strong opening against the US Dollar (USD), following the Reserve Bank of India’s (RBI) monetary policy decision.

USD/IDR depreciates after registering minor gains in the previous day, trading around 17,970 during the Asian hours on Wednesday. The currency pair is under downward pressure as a combination of strong Indonesian economic performance and softening US Dollar (USD) demand weighs on the pair.

India Reverse Repo Rate: 3.35%

India RBI Interest Rate Decision (Repo Rate) meets forecasts (5.25%)

Indonesia Gross Domestic Product (YoY) above expectations (5.1%) in 2Q: Actual (5.29%)

Indonesia Gross Domestic Product (QoQ) came in at 3.73%, above forecasts (3.5%) in 2Q

US President Donald Trump said that he had very productive talks with Iran, Fox News reported on Wednesday.

According to a report from Axios, the United States (US), Iran, and Oman are closing in on an interim agreement to reopen the Strait of Hormuz, with the U.S. aiming for a Wednesday announcement, sources report.

GBP/USD edges lower after registering modest gains in the previous day, trading around 1.3450 during the Asian hours on Wednesday.

China's Services Purchasing Managers' Index (PMI) declined to 50.4 in July from 54.1 in June, the latest data published by RatingDog showed on Wednesday. This figure came in weaker than the market expectations of 53.7. 

US Treasury Secretary Scott Bessent said that the weakness of the Japanese Yen (JPY) has contributed to Japan’s inflation problem and raised the risk of broader depreciation of Asian currencies, Bloomberg reported on Tuesday.

US Secretary of State Marco Rubio said there has been progress made in discussions with Iran and Oman on ‌getting ‌more ships through ‌the Strait of Hormuz but no final deal has been achieved, the Guardian reported on Tuesday.

The Reserve Bank of India (RBI) is set to announce its bi-monthly monetary policy decision on Wednesday at 10:00 AM IST (04:30 GMT), another meeting coming at a time when uncertainty remains high over the duration and economic fallout of the ongoing Middle East conflict.

Federal Reserve Bank of Kansas City President Jeff Schmid said on Wednesday that tighter monetary policy is needed to get inflation back to the 2% target. Schmid added that inflation is 'too high' and 'worrisome' and the current stance of Fed policy is not restrictive.

The Bank of Japan (BoJ) board members shared their views on the monetary policy outlook on Thursday, per the BoJ Minutes of the June meeting.   

Japan Labor Cash Earnings (YoY) meets forecasts (3.4%) in June

Australia S&P Global Services PMI came in at 53.6, above expectations (53) in July

Australia S&P Global Composite PMI registered at 53.2 above expectations (52.6) in July

New Zealand’s Unemployment Rate rose to 5.6% in the second quarter (Q2) of 2026 from 5.3% in the first quarter, according to the official data released by Statistics New Zealand on Wednesday. The figure came in above the market consensus of 5.4%.