Yesterday, investor morale received a boost from the latest flash U.S. business data by S&P Global, indicating an unexpected slowdown in overall activity for April alongside diminishing price pressures and labor costs. The dollar remained strong, particularly against the Japanese yen, nearing 155 yen at 34-year highs as the Bank of Japan convened. Japan's Nikkei outshone global stocks, driven by a weak yen and a surging tech sector, posting gains of over 2% on Wednesday. Meanwhile, gold and oil prices stabilized following recent declines.

Asia Pacific markets
U.S. Secretary of State Antony Blinken's arrival in Shanghai underscored the delicate state of U.S.-China relations, amid numerous unresolved issues between the two powers.
The USD/JPY currency pair continued its upward trend towards the $155 mark, while the Australian dollar struggled to establish a position within the $0.6490 to $0.6630 range.

European markets
The U.S. business data contrasted with better-than-expected purchasing managers' surveys from the eurozone and the UK. German business sentiment, as measured by the Ifo survey, exceeded expectations for April, further supporting positive sentiment. European and U.S. futures markets rose as earnings reports flowed in.
The Euro continued its modest ascent, resembling a corrective phase, while the British pound showed more assertiveness, aiming to stabilize within a range between $1.2425 and $1.2480.

American markets
The S&P500 registered a second consecutive day of gains on Tuesday, recovering over a third of its recent month-long decline. Key events on Wednesday's agenda included US March durable goods orders, corporate earnings releases, a speech by European Central Bank board member Isabel Schnabel, the release of Bank of Canada meeting minutes, and Secretary of State Antony Blinken's visit to China. Additionally, German Chancellor Olaf Scholz met with British Prime Minister Rishi Sunak in Berlin.
The USD/CAD currency pair continued its descent towards support levels around the $1.36 zone.