TD Securities’ Global Strategy Team highlights that Australia’s January CPI remained elevated, with both headline and trimmed mean inflation above consensus.

Standard Chartered economist Christopher Graham notes that the European Parliament has paused ratification of the EU-US trade deal as it seeks clarity on new US tariffs.

ING analysts Warren Patterson and Ewa Manthey report that LME copper has moved back above $13,000/t as Chinese buyers return from Lunar New Year, with Yangshan premiums hitting a two‑month high.

USD/CHF edges higher on Wednesday, drawing support from a firmer US Dollar, which is exerting pressure on the Swiss Franc (CHF). At the time of writing, the pair is trading around 0.7746, after bouncing off an intraday low of 0.7719.

BNY’s Head of Markets Macro Strategy Bob Savage highlights that Eurozone January inflation eased to 1.7% year-on-year, with EU inflation at 2.0%. Services remain the main positive contribution, while energy drags.

AUD/USD trades around 0.7090 on Wednesday at the time of writing, up 0.42% on the day, supported by an unexpected acceleration in inflationary pressures in Australia, which revives expectations of a restrictive monetary policy stance.

ABN AMRO Senior Economist Rogier Quaedvlieg argues that under Kevin Warsh, the Federal Reserve’s ‘conviction-based’ approach and a more dovish reaction function point to lower rates despite a bullish US outlook.

HSBC Global Research views USD/CAD as largely driven by the broader Dollar trend, with the pair trading slightly below levels implied by rate spreads, reflecting Canadian Dollar resilience. Elevated Oil prices linked to Middle East tensions are supportive.

The Japanese Yen plunges against its major currency peers, is down 0.6% to near 156.80 against the US Dollar (USD) during the European trading session on Wednesday.

United States MBA Mortgage Applications down to 0.4% in February 20 from previous 2.8%

Gold (XAU/USD) struggles for direction on Wednesday, easing slightly after trimming part of the previous day’s losses. Although the downside appears limited, as fresh uncertainty over US trade policy and lingering geopolitical tensions in the Middle East continue to underpin safe-haven demand.

Brown Brothers Harriman’s (BBH) Elias Haddad notes the USD index (DXY) is trading near the middle of its 96.00–100.00 range and is expected to stay there in the near term, as it tracks rate differentials and lacks major catalysts.

Rabobank’s Jane Foley notes that Prime Minister Takaichi’s decision to nominate reflationist academics to the BoJ Board has unsettled the Japanese Yen and JGBs, but she argues the overall policy tilt is unlikely to change significantly.

TD Securities’ Global Strategy Team notes that US consumer confidence data surprised to the upside in February, mainly due to upward revisions to January. The present situation index weakened, while expectations improved, leaving the overall tone mixed.

The Indian Rupee (INR) trades flat against the US Dollar (USD) on Wednesday.

Gold price (XAU/USD) trades 0.6% higher to near $5,200 during the European trading session on Wednesday.

EUR/JPY trades around 184.60 on Wednesday at the time of writing, up 0.58% on the day, as the Japanese Yen (JPY) remains under pressure against the Euro (EUR). The bullish momentum in the cross comes amid growing uncertainty about the pace of monetary policy normalization in Japan.

China commerce ministry expresses willingness to work with the United States (US) during European trading hours on Wednesday. The ministry added Beijing has fulfilled necessary obligations required to fulfil the first phase of the agreement.

ING’s Senior Economist Min Joo Kang argues that the Bank of Japan will keep basing rate decisions on data despite a slightly more dovish board tilt and government pressure.

Eurozone Core Harmonized Index of Consumer Prices (MoM) remains at -1.1% in January

Reserve Bank of Australia (RBA) Governor Michele Bullock spoke at the Melbourne University Faculty of Economics & Business Foundation Dinner, Melbourne, on Wednesday.

Eurozone Core Harmonized Index of Consumer Prices (YoY) in line with forecasts (2.2%) in January

Eurozone Harmonized Index of Consumer Prices (YoY) meets forecasts (1.7%) in January

Eurozone Harmonized Index of Consumer Prices (MoM) came in at -0.6% below forecasts (-0.5%) in January

Societe Generale analysts note that AUD/USD has broken out of a multi‑month consolidation and is trading near its 2023 peak after a stronger‑than‑expected Australian core CPI print.

Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $90.96 per troy ounce, up 4.19% from the $87.30 it cost on Tuesday.

HSBC Global Research highlights that EUR/USD has been steady despite EU–US trade uncertainty, with much US policy risk already priced. The bank expects the pair to move back toward the upper end of its recent range without breaking higher.

West Texas Intermediate (WTI) Oil price loses ground for the second successive session, trading around $65.90 per barrel during the European hours on Wednesday.

Austria UniCredit Bank Manufacturing PMI rose from previous 47.2 to 49.4 in February

Switzerland ZEW Survey – Expectations rose from previous -4.7 to 9.8 in February