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Societe Generale analysts discuss persistent headwinds for the Indian Rupee (INR) against US Dollar (USD) as India faces large Oil and Gold import bills.

Commerzbank’s Michael Pfister expects the Bank of Canada (BoC) to keep rates unchanged as policymakers assess the impact of the Middle East conflict and softer inflation.

Deutsche Bank analysts highlight that Australian Consumer Price Index (CPI) rose 4.6% year-on-year in March, slightly below expectations, while trimmed mean inflation stayed above the Reserve Bank of Australia's (RBA) target band.

Oil prices are extending their gains early on Wednesday, with Brent jumping to over $114 and WTI exceeding $103 per barrel, as oil market participants weigh the stalled U.S.-Iran negotiations and the possibility of an extended U.S. blockade outside the Strait of Hormuz. As of early morning in Europe

DBS Group Research economist Radhika Rao notes that India’s 10Y bond yield is moving back towards 7% as Brent Oil trades above $110 and markets price tighter policy.

MUFG’s Michael Wan notes United Arab Emirates' (UAE) surprise decision to leave OPEC/OPEC+ from 1 May, driven by dissatisfaction with quotas and significant spare capacity.

The US Dollar (USD) posts moderate gains against a basket of majors for the second consecutive day on Wednesday and remains close to two-week highs in the area of $99.00.

AUD/USD extends its losses for the second successive day, trading around 0.7160 during the European hours on Wednesday.

Commerzbank’s Volkmar Baur explains that softer underlying inflation in Australia has reduced market confidence in another Reserve Bank of Australia (RBA) rate hike next week, after two consecutive moves in February and March.