United States EIA Crude Oil Stocks Change: -3.341M (March 21) vs previous 1.745M

While delivering the Spring Budget, UK Chancellor of the Exchequer Rachel Reeves noted that they will bring forward 3.25 billion Sterling of investment to reform public services, per Reuters.

The UK's Office for Budget Responsibility (OBR) said on Wednesday that the UK's long-term fiscal outlook remains very challenging amid the uncertainty surrounding the full impact of changes to welfare policies, per Reuters.

Durable Goods Orders in the US rose by 0.9%, or $2.7 billion, in February to $289.3 billion, the US Census Bureau reported on Wednesday. This reading followed a 3.3% increase (revised from 3.1%) reported in January and came in better than the market expectation for a decrease of 1%.

United States Durable Goods Orders above expectations (-1%) in February: Actual (0.9%)

United States Durable Goods Orders ex Transportation came in at 0.7%, above forecasts (0.2%) in February

United States Durable Goods Orders ex Defense fell from previous 3.5% to 0.8% in February

The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is currently bouncing off the 104.00 mark and consolidates on Wednesday ahead of the US Durable Goods Orders data for February.

Silver price (XAG/USD) holds onto gains near $33.80 in European trading hours on Wednesday.

Bitcoin (BTC) holds above $87,000 on Wednesday after its mild recovery so far this week.

US Dollar (USD) is expected to trade in a 7.2540/7.2700 range vs Chinese Yuan (CNH).

USD/JPY is up near 150.50. Bank of Japan Governor Kazuo Ueda reiterated the bank’s guidance that it will continue to raise interest rates if its economic outlook is realized, BBH's FX analysts report.

US Dollar (USD) is expected to consolidate vs Japanese Yen (JPY) between 149.40 and 150.50.

In precious metals, exchange-traded funds (ETFs) added 23 tonnes of Gold in the last trading session, the biggest one-day increase since 2022, ING’s commodity analysts Warren Patterson and Ewa Manthey note.

New Zealand Dollar (NZD) is likely to continue to trade in a range, probably between 0.5715 and 0.5755.

United States MBA Mortgage Applications increased to -2% in March 21 from previous -6.2%

Copper futures on Comex surged to a record high, ING’s commodity analysts Warren Patterson and Ewa Manthey note.

GBP/USD recently approached last November high of 1.3045, which is an interim hurdle, Societe Generale's FX analysts report.

Germany 30-y Bond Auction rose from previous 3.04% to 3.11%

The USD/CAD pair extends its downside move for the third day in a row on Wednesday and slides to near 1.4250.

Oil prices slid after Russia and Ukraine agreed to a maritime ceasefire.

European Central Bank (ECB) policymaker and Bank of France head Francois Villeroy de Galhau said on Wednesday that a 25 percentage point increase in the US tariffs in the second quarter could have limited impact on European inflation but added that they could still reduce the Eurozone Gross Domesti

EUR/GBP continues its steady decline lower after the sharp move higher at the beginning of March, Danske Bank's FX analyst Jesper Fjärstedt reports.

EUR/USD strives to gain ground after a five-day losing streak near 1.0800 during European trading hours on Wednesday.

Australian Dollar (AUD) could retest the 0.6325 level; the major resistance at 0.6355 is unlikely to come into view.

According to the monthly price index, the rate of inflation in Australia fell again in February.

There has been no increase in either downward or upward momentum; Pound Sterling (GBP) is expected to trade in a 1.2920/1.2980 range.