Trading news

BNY’s EMEA Macro Strategist Geoff Yu highlights that Latin American sovereign bonds remain the best-held global segment, with holdings still about 14% above their 12‑month average and no underheld currencies in the region.

The GBP/USD fell 0.21% on Wednesday following the release of a hot US inflation report, prompting investors to cut their dovish bets on the Federal Reserve. At the time of writing, the pair trades at around 1.3320.

Russia Producer Price Index (YoY) declined to -5.2% in February from previous -5%

Russia Producer Price Index (MoM) climbed from previous -2.5% to 0.5% in February

Commerzbank’s Michael Pfister expects the Brazilian central bank to start its cutting cycle, with consensus looking for an initial move after a long hold at 15%. He sees scope for a 25 or 50 basis point cut and anticipates the pace to accelerate later in 2026.

USD/JPY is trading near the 159.50 price zone, gaining some ground during the American session as the pair awaits the Federal Reserve's (Fed) monetary policy decision. The Fed is expected to keep rates on hold later today.

West Texas Intermediate (WTI) US Oil trades around $97.50 at the time of writing on Wednesday, up 2.37% on the day, supported by persistent geopolitical risks despite some signs of easing supply concerns.

TD Securities strategists report that the Bank of Canada (BoC) kept its policy rate at 2.25% and dropped guidance that the current rate is appropriate.

USD/CAD trims part of its earlier gains on Wednesday as the Canadian Dollar (CAD) finds some support following the Bank of Canada’s (BoC) monetary policy announcement.

ABN AMRO’s Senior Fixed Income Strategist Larissa de Barros Fritz analyzes how different Oil and Gas shocks affect ECB expectations and Bund yields. She notes that demand-driven Oil shocks, speculative inventory moves, and supply disruptions each have distinct rate and curve impacts.

ING’s Benjamin Schroeder expects the Federal Reserve (Fed) to keep rates unchanged at its March FOMC meeting as higher Oil prices and elevated inflation expectations constrain policy. He notes markets see no cut today, with the first reduction only fully priced by year-end.

United States EIA Crude Oil Stocks Change above expectations (0.4M) in March 13: Actual (6.156M)

Royal Bank of Canada (RBC) economists Rachel Battaglia and Abbey Xu report that Canadian cardholder spending improved modestly in February, even as consumers continued to reduce discretionary goods purchases.

The White House announced on Wednesday that they have issued a 60-day waiver of the Jones Act shipping law, per Reuters.

TD Securities expects the Sweden's central bank, Riksbank to keep its policy rate unchanged at 1.75%, noting that pre-Iran conflict inflation was running below December projections.

United States Factory Orders (MoM) in line with forecasts (0.1%) in January

Brown Brothers Harriman’s (BBH) Elias Haddad notes the Federal Reserve is widely expected to keep the funds rate at 3.50%-3.75%, with markets focused on the vote split, dot plot and Chair Powell’s tone.

Canada BoC Interest Rate Decision meets forecasts (2.25%)

ING commodities strategists Warren Patterson and Ewa Manthey note that Copper prices have come under pressure following a sharp increase in exchange inventories. LME Copper stocks have risen to their highest level since 2019, driven by inflows into Taiwan and Baltimore.

EUR/GBP holds firm on Wednesday after paring earlier losses, as steady Eurozone inflation data underpins the Euro (EUR), leaving the British Pound (GBP) under modest pressure.