U.S. Dollar Near Breakout as Fed Decision Looms Over Key Levels.U.S. Dollar outlook, Federal Reserve policy signals and key technical levels are in focus as markets brace for a pivotal Fed decision. Michael Boutros, Senior Technical Strategist at FOREX.com, breaks down the critical resistance and support zones shaping the dollar's next move and explains why Fed commentary may matter more than the rate decision itself.

BoC Holds at 2.25% as Oil-Driven Inflation Seen Temporary Despite Upgraded Outlook.Bank of Canada left its policy rate unchanged at 2.25%, maintaining a cautious stance as it navigates the inflation impact of the Middle East conflict. While headline inflation is rising, policymakers signaled they are prepared to look through the immediate energy-driven shock, focusing instead on whether it feeds into broader and more persistent pressures.

S&P500 Forecast: SPX slips ahead of the FOMC rate decision and big tech earnings..US equities are pointing to a mixed open on Wednesday as investors tread carefully ahead of the Federal Open Market Committee decision, which is widely expected to be the last chaired by Jerome Powell. Focus is also on a heavy slate of Big Tech earnings due after the close.

USD: Pre-FOMC demand builds – BNY.USD: Pre-FOMC demand builds – BNY

Indian refiners limit use of special FX credit line, sources say, spelling more rupee strain.India's state-run oil refiners are making limited use of a special FX credit line offered by the country's largest bank that aims to ease pressure on ​the rupee, three sources familiar with the matter said, signalling worries that the rupee ‌will fall further.

Oil Continues to Face a Blockade.The UAE's decision to withdraw from OPEC and OPEC+ came as a surprise but did not send shockwaves through the oil market. This move could undermine the cartel's position and increase the UAE's production capacity from its current quota of 3.4 million bpd to a technically feasible 4.8 million bpd.

Fed: Policy focus and leadership change – DBS.Fed: Policy focus and leadership change – DBS

USD/JPY Nears 160 Red Line: Will Traders or Japan Blink First?.USD/JPY is once again approaching the 160 level, putting markets on alert for potential Japanese intervention. The pair's steady climb, driven by rising oil prices and widening rate differentials, is turning this level into a key flashpoint for global FX markets.

CAD: BoC hawkish tilt with conflict risks – MUFG.CAD: BoC hawkish tilt with conflict risks – MUFG

Fed: Neutral stance into April FOMC – TD Securities.Fed: Neutral stance into April FOMC – TD Securities

US Durable Goods Orders rise 0.8% in March vs. 0.5% expected.US Durable Goods Orders rise 0.8% in March vs. 0.5% expected

US durable goods orders for March +0.8 vs +0.5% expected.The Advance Report on Durable Goods Manufacturers' Shipments, Inventories, and Orders, published monthly by the U.S. Census Bureau, is one of the most closely watched gauges of U.S. manufacturing activity and business investment. Released about 18 working days after each reference month at 8:30 a.m.

USD/JPY: Range trade with intervention risk – OCBC.USD/JPY: Range trade with intervention risk – OCBC

Germany annual CPI inflation rises to 2.9% in April vs. 3% expected.Germany annual CPI inflation rises to 2.9% in April vs. 3% expected

Germany Consumer Price Index (YoY) below forecasts (3%) in April: Actual (2.9%).Germany Consumer Price Index (YoY) below forecasts (3%) in April: Actual (2.9%)

investingLive European markets wrap: Oil ramps higher as US-Iran stalemate continues.US president Trump warned of an "indefinite blockade" yesterday and told Iran to "get smart soon" overnight. Otherwise, he said that there will be "no more Mr.

BoC: Cautious hold as oil lifts inflation – TD Securities.BoC: Cautious hold as oil lifts inflation – TD Securities

India M3 Money Supply declined to 11.9% in April 13 from previous 13%.India M3 Money Supply declined to 11.9% in April 13 from previous 13%

USD/JPY nears the key 160.00 level ahead of the Fed rate decision.USD/JPY nears the key 160.00 level ahead of the Fed rate decision

United States MBA Mortgage Applications fell from previous 7.9% to -1.6% in April 24.United States MBA Mortgage Applications fell from previous 7.9% to -1.6% in April 24

Eurozone Economic Sentiment Slumps as Confidence Drops Across Key Sectors.Economic sentiment in Europe weakened sharply in April, with the Economic Sentiment Indicator falling from 96.7 to 93.5 in the EU and from 96.2 to 93.0 in the Eurozone. The decline marks a clear deterioration in business and consumer confidence, pushing both readings well below the long-term average of 100.

Iran's currency drops to record low level of 1.8 million rials to the dollar, ISNA reports.Iran's currency dropped to ​a record low ‌of 1,810,000 rials to the U.S. dollar ​on Wednesday, ​the Iranian Student News ⁠Agency (ISNA) said, marking a ​fall of about ​15% over the past two days.

Natural Gas News: Futures Slide as Weather Fails to Offset Inventory Glut.Natural gas futures turn bearish as inventory builds and strong supply outweigh weather support. Traders eye lower levels as June takes control of the market.

Fed and ECB Set to Wait and See.The US dollar has entered a consolidation phase ahead of the Fed and ECB meetings and the lull in the Middle East. Central banks intend to adopt a wait-and-see stance amid geopolitical uncertainty.

Rupee hits record closing low of 94.85 vs USD hurt by surging oil, persistent outflows.The Indian rupee fell to a record closing ​low on Wednesday, pressured ​by rising oil prices as efforts to end the Iran ​conflict remained stalled, while persistent foreign selling of Indian assets added to the strain.

Italy Trade Balance non-EU climbed from previous €5.529B to €5.643B in March.Italy Trade Balance non-EU climbed from previous €5.529B to €5.643B in March

Ireland Retail Sales (MoM) increased to 0.2% in March from previous -0.8%.Ireland Retail Sales (MoM) increased to 0.2% in March from previous -0.8%

Ireland Retail Sales (YoY) up to 1.6% in March from previous 0.8%.Ireland Retail Sales (YoY) up to 1.6% in March from previous 0.8%

Federal Reserve set to hold interest rates in Powell's likely farewell as chair.Federal Reserve set to hold interest rates in Powell's likely farewell as chair

Pound edges lower amid geopolitical uncertainty.The British pound slipped against the US dollar on Wednesday as a stalemate in peace talks aimed at ending the Iran war weighed on investor sentiment, while caution ahead of key central bank decisions further limited risk appetite. Sterling was last down 0.15% at $1.3499, while it was largely unchanged against the euro at 86.65 pence.