USD/CAD remains subdued for the second successive trading day, hovering around 1.3910 during the Asian hours on Wednesday.

United States (US) Secretary of State Marco Rubio told Fox News on Wednesday that they would need to “reexamine” the North Atlantic Treaty Organization (NATO) alliance following the conclusion of the war in Iran.

In a telephonic interview with NBC News late Tuesday, US President Donald Trump said that he believes the war on Iran is “coming to an end”.

West Texas Intermediate (WTI) oil price edges lower after registering over 4% gains in the previous day, trading around $98.60 per barrel during the Asian hours on Wednesday.

The USD/JPY pair recovers slightly from over a one-week low, around the 158.45 region touched during the Asian session on Wednesday, though it lacks follow-through buying.

China's RatingDog Manufacturing Purchasing Managers' Index (PMI) dropped to 50.8 in March from 52.1 in February, the latest data published by RatingDog showed on Wednesday.

China RatingDog Manufacturing PMI below expectations (51.6) in March: Actual (50.8)

EUR/USD extends its gains for the second successive day, trading around 1.1560 during the Asian hours on Wednesday. The pair advances as the US Dollar (USD) softens, weighed down by fading safe-haven demand amid a moderation in Middle East tensions.

On Wednesday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.9025 compared to the previous day's fix of 6.9194 and 6.8858 Reuters estimate.

The AUD/USD pair is seen building on the previous day's recovery move from over a two-month low and gaining traction for the second consecutive day on Wednesday.

Ethereum (ETH) is attempting to reclaim the $2,100 level on Tuesday, following reports that Iran's President Masoud Pezeshkian is ready to end the war with the US and Israel if 'guarantees' are met, according to Bloomberg.

Australia Building Permits (YoY): 14% (February) vs -15.7%

Australia Building Permits (MoM) came in at 29.7%, above expectations (6.5%) in February

South Korea S&P Global Manufacturing PMI increased to 52.6 in March from previous 51.1

Japan Jibun Bank Manufacturing PMI came in at 51.6, above forecasts (51.4) in March

South Korea Trade Balance above expectations ($21.2B) in March: Actual ($25.74B)

Ireland AIB Manufacturing PMI climbed from previous 53.1 to 53.7 in March

Japan Tankan Non - Manufacturing Outlook came in at 29, above forecasts (28) in 1Q

Japan Tankan Non - Manufacturing Index above expectations (33) in 1Q: Actual (36)

Japan Tankan Large All Industry Capex fell from previous 12.6% to 3.3% in 1Q

Japan Tankan Large Manufacturing Outlook came in at 14, above forecasts (13) in 1Q

Japan Tankan Large Manufacturing Index registered at 17 above expectations (16) in 1Q

TD Securities’ Global Strategy Team reports that China’s March PMIs moved back into expansion, with Manufacturing and Non-manufacturing both beating expectations.

OCBC strategists Sim Moh Siong and Christopher Wong highlight USD/IDR grinding higher toward 17,000 on firm Dollar, risk-off sentiment and Oil-related terms-of-trade pressures.

UOB notes that the central bank of Malaysia, Bank Negara Malaysia (BNM) is expected to keep the Overnight Policy Rate at 2.75% through early 2027.

Australia S&P Global Manufacturing PMI below expectations (50.1) in March: Actual (49.8)

BNY’s Head of Markets Macro Strategy Bob Savage notes that the Bank of Korea (BoK) may consider policy easing as Middle East geopolitical shocks threaten domestic growth.