-- Societe Generale in its early Wednesday economic news summary pointed out:
-- Brent slips 6% from the intra-day high of Tuesday to US$107.55/barrel, President Trump halts 'Project Freedom' in the Strait of Hormuz. The United States/Iran ceasefire is still in place. Iran/China foreign ministers meet ahead of Trump-Xi summit next week.
-- Asia-Pacific bid versus US dollar (USD) on suspected Bank of Japan intervention. Reuters: large offers placed for US dollar/yen (JPY) at 156 on the EBS platform. Brazil's real (BRL) to resume trading after closing at a 28-month high of 4.91, central bank (BCB) minutes hawkish.
-- New York Fed's Williams: still expect rates to come down "at some point" pencilling inflation to be around 3% this year before easing back to 2% target next year. Gross domestic product forecast 2%-2.25% this year and next. OIS pricing 50% odds of a rate hike by March 2027.
-- Sweden CPIF slows in April. Core excluding energy eases too.
-- Day ahead: U.S. ADP employment and Treasury refunding announcement. Fed speakers Musalem and Goolsbee. European Central Bank's Cipollone. ECB wage tracker. Poland's central bank to stay on hold. Czech CPI.
-- Nikkei closed, Eurostoxx futures +0.6%, EUR 10-year IRS -2.9bps at 3.065%, Brent crude -1.3% at US$108.4/barrel, Gold +2.2% at US$4,660/oz.