China’s imports of liquefied natural gas this month are expected to be the lowest since 2018, based on data from Kpler, Bloomberg has reported, citing soaring prices. April LNG arrivals are seen at 3.5 million tons, which would also be a 30% drop on a year ago, the report said. An earlier report by
Silver (XAG/USD) edged up from three-week lows near $72.00 earlier on Wednesday, but it failed to find acceptance above $74.00, and is trading practically flat on the daily chart at $73.10 at the time of writing.
Dow Jones futures advance 0.12%, trading near 49,350 during the European hours on Wednesday, ahead of the United States (US) regular opening. Meanwhile, S&P 500 and Nasdaq 100 futures advance 0.09% and 0.33% to near 7,180 and 27,260, respectively.
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.
Commerzbank analysts highlight that USD/INR rose 0.4% to 94.55, nearing its late-March all-time high, after the Reserve Bank of India (RBI) eased some curbs on Non-Deliverable Forward (NDF) offerings.
The Japanese Yen (JPY) trades cautiously against the US Dollar (USD) at around 159.65 during the European trading session on Wednesday. The USD/JPY pair is expected to remain on the sidelines, with investors awaiting the Federal Reserve’s (Fed) monetary policy announcement at 18:00 GMT.
Danske Research Team notes that EUR/USD is trading close to 1.17 ahead of the Federal Open Market Committee (FOMC) meeting, where th e Federal Reserve (Fed) is expected to keep rates unchanged and avoid firm forward guidance.
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.