Portugal Consumer Confidence dipped from previous -18.7 to -23.9 in April

Eurozone Private Loans (YoY) below forecasts (3.1%) in March: Actual (3%)

Italy Business Confidence: 87.9 (April) vs previous 88.8

Italy Consumer Confidence down to 90.8 in April from previous 92.6

The Bank of Canada (BoC) is widely expected to keep its monetary policy rate unchanged at 2.25% for its fourth consecutive meeting on Wednesday, requesting more time to assess the impact on inflation and economic growth from the US-Iran war.

Rabobank's Senior Macro Strategist Bas van Geffen expects the Bank of Canada (BoC) to keep its overnight rate at 2.25% through year-end. He notes inflation had been near target before an energy-driven spike revived upside risks, but growth remains volatile and productivity weak.

UOB’s strategists Quek Ser Leang and Lee Sue Ann note GBP/USD failed to extend gains after touching 1.3576, instead dipping to 1.3464 before closing near 1.3520.

Danske Research Team notes that global equities slipped, led by technology, even as the CBOE Volatility Index (VIX) declined, suggesting the move was not driven by macro data.

Spain Consumer Price Index (MoM) dipped from previous 1.2% to 0.4% in April

Spain Harmonized Index of Consumer Prices (MoM) down to 0.7% in April from previous 1.7%

Spain Consumer Price Index (YoY) registered at 3.2%, below expectations (3.6%) in April

Turkey Economic Confidence Index declined to 96.4 in March from previous 97.9

Spain Harmonized Index of Consumer Prices (YoY) came in at 3.5%, below expectations (3.6%) in April

DBS Group Research economist Ma Tieying notes that the Bank of Japan (BoJ) kept its overnight call rate at 0.75% in April, with the largest dissent under Governor Ueda signalling internal pressure for further tightening.

TD Securities’ commodity team highlights that Silver has already fallen sharply since the conflict began and could face further downside if inflation slows growth and raises carry costs.

Asian equity markets are trading mixed on Wednesday, following overnight losses on Wall Street as investors digest the latest developments surrounding the Organization of the Petroleum Exporting Countries (OPEC), along with a report highlighting signs of weakness at OpenAI.

Reserve Bank of New Zealand (RBNZ) Governor Anna Breman said on Wednesday that “the first quarter measures of core inflation have remained stable within the target band of 1–3%.”

The AUD/JPY cross declines to around 114.50 during the early Asian trading hours on Wednesday. The Australian Dollar (AUD) softens against the Japanese Yen (JPY) following the release of the Australian inflation report.

Australia Quarterly RBA Trimmed Mean CPI (YoY) climbed from previous 3.4% to 3.5% in 1Q

Australia Quarterly Consumer Price Index (QoQ) meets forecasts (1.4%) in 1Q

Australia Quarterly Consumer Price Index (YoY) meets forecasts (4.1%) in 1Q

Australia Quarterly RBA Trimmed Mean CPI (QoQ) declined to 0.8% in 1Q from previous 0.9%

Australia Quarterly Consumer Price Index (QoQ) below forecasts (1.4%) in 1Q: Actual (1.1%)

Australia Quarterly Consumer Price Index (YoY) above expectations (4.1%) in 1Q: Actual (4.6%)

Chile's central bank held its benchmark interest rate at 4.50% in a unanimous decision, with the Banco Central de Chile (BCCh) board citing the worsening Middle East conflict as a key factor weighing on the policy outlook.

Ireland Consumer Confidence dipped from previous 56.7 to 53.3 in April

OCBC strategists Sim Moh Siong and Christopher Wong notes USD/IDR has turned lower with the broader US Dollar (USD) pullback, but says recent Indonesian Rupiah (IDR) softness reflects external uncertainty from a potential prolonged United States (US)–Iran conflict and vulnerability to energy shocks.

DBS Group Research economists Byron Lam and Daisy Sharma highlight that China’s 1Q 2026 real Gross Domestic Product (GDP) rose to 5.0% year-on-year from 4.5% in Q4 2025, supported by strong external demand but uneven domestic momentum.

OCBC strategists Sim Moh Siong and Christopher Wong describe USD/SGD as slipping on broad USD weakness and expects two‑way, range‑bound trading in the near term, with resistance around 1.2780–1.2850 and support near 1.2720–1.2670.

TD Securities analysts expect Canada’s Spring Economic Update to show a CAD 60 billion deficit over 2026–27, slightly better than the prior budget shortfall.