Trading news

United States S&P Global Manufacturing PMI came in at 52.3 below forecasts (52.4) in March

Silver (XAG/USD) trades around $75.00 on Wednesday, edging slightly lower at the time of writing, as the precious metal pauses after a strong three-day recovery.

ING analysts Ewa Manthey and Warren Patterson highlight tightening conditions in Copper, as Chile posts its lowest monthly output in almost nine years and Ivanhoe cuts production guidance at Kamoa‑Kakula.

Canada S&P Global Manufacturing PMI declined to 50 in March from previous 51

Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is only slightly firmer versus the Dollar (USD) despite broad USD weakness, but sees scope for a meaningful CAD recovery after a 1.4% Q1 decline.

Deutsche Bank’s Chief UK Economist Sanjay Raja warns that the UK faces rising recession risks as higher energy prices hit growth. Using Hamilton-based energy shock measures and probability models, he expects United Kingdom (UK) GDP growth to slow to 0.7%, with downside risks increasing.

United States (US) President Donald Trump told Reuters on Wednesday that they are going to be out of Iran "pretty quickly," but refused to give a timeline.

South Africa Total New Vehicle Sales rose from previous 53455 to 58060 in March

MUFG’s Head of Research Derek Halpenny notes that the Japanese Yen was one of the best G10 performers in March and argues it has better prospects than the Pound.

In a speech delivered before a gathering at the American Enterprise Institute in Washington, St. Louis Federal Reserve President Alberto Musalem said that the monetary policy is well-positioned and that it should hold in place for some time, per Reuters.

Brazil S&P Global Manufacturing PMI climbed from previous 47.3 to 49 in March

In a post published on Truth Social on Wednesday, United States (US) President Donald Trump said that Iran’s New Regime President, who is "much less radicalized and far more intelligent than his predecessors," has asked the US for a ceasefire.

RaboBank's Global Strategist Michael Every highlights that Gulf War 3 and the closure of the Strait of Hormuz have pushed Oil prices about 60% above pre-war levels, with specific products like diesel and jet fuel particularly affected in Asia.

Retail Sales in the United States (US) rose 0.6% to $738.4 billion in February, the US Census Bureau reported on Wednesday. This print followed the 0.1% contraction recorded in January and came in slightly better than the market expectation for an increase of 0.5%.

Commerzbank’s Bernd Weidensteiner and Christoph Balz argue that the US economy is better positioned to absorb higher Oil prices than in past crises. Lower oil intensity, near self-sufficiency and experience from the 2022 shock support resilience.

GBP/JPY rebounds on Wednesday, as signs of easing geopolitical tensions between the US and Iran improve market sentiment and support risk appetite.

While speaking to Reuters at the Bank of England's (BoE) London headquarters on Reuters, BoE Governor Andrew Bailey argued that markets are getting ahead of themselves by pricing in interest-rate hikes.

Richmond Federal Reserve Bank President Tom Barkin told Reuters on Wednesday that he does not see inflation expectations at the risk of breaking out.

United States Retail Sales (YoY) increased to 3.7% in February from previous 3.2%

United States Retail Sales Control Group increased to 0.5% in February from previous 0.3%