Global FX DATA:

• • • ASIAN MARKET
      
      Asian shares faltered on Wednesday amid fears of rising U.S. protectionism as President Donald Trump fired his Secretary of State, regarded as a moderate in his administration, and sought to impose hefty tariffs on Chinese imports.
       
    • GOLD
      
      Gold prices were largely steady on Wednesday on a weaker dollar following U.S. Secretary of State Rex Tillerson’s sudden dismissal and after consumer price data pointed towards a path of gradual hikes in U.S. interest rates.
       
  • • OIL
      
      Oil prices edged up on Wednesday after posting two days of declines at the start of the week.Support came from a report that U.S. crude inventories are not rising as much as expected during the spring season now starting, implying healthy demand, and from strong China data.
       
    • INDIA
      
       India’s solar industry more than doubled its fund raising to $10 billion in 2017, clean energy consultancy Mercom said, but activity is likely to slow this year as New Delhi plans to slap high tariffs on imports.
       
    • DOLLAR
      
      The dollar wallowed against the yen and other major currencies on Wednesday after the sudden dismissal of U.S. Secretary of State Rex Tillerson killed off an earlier bounce in the currency.
       
    • CHINA
      
      China’s industrial output grew more strongly than expected at the start of the year, suggesting the economy has sustained solid momentum even as U.S. President Donald Trump readies hefty tariffs against one its most strategic growth drivers. 
       
    • SINGAPORE
      
      Economists have raised their forecasts for Singapore’s economic growth in 2018, as they upgraded their views on private consumption as well as wholesale and retail trade, a central bank survey showed on Wednesday.

    • JAPAN
      
      Japanese Prime Minister Shinzo Abe on Wednesday remained steadfast that he and his wife were not involved in a discount land-sale deal that has seen the opposition call for the resignation of key ally and Finance Minister Taro Aso.

    • US
      
      Democratic members of the U.S. House of Representatives Intelligence Committee said on Tuesday they would keep investigating Russia and the 2016 U.S. election, despite a decision by Republicans on the panel to shut down the probe.

    • SOUTH KOREA
      
       South Korea’s finance minister said on Wednesday the lack of jobs growth is now the country’s biggest economic issue.“It is quite obvious that the youth unemployment problem would get more serious,” said Kim Dong-yeon said in opening remarks at a meeting with SK Group Chairman Chey Tae-won, adding that jobs creation was the government’s most important economic task.

    • WASHINGTON
      
      U.S. President Donald Trump is seeking to impose tariffs on up to $60 billion of Chinese imports and will target the technology and telecommunications sectors.
       

    • AUSTRALIA
      
      National Australia Bank Ltd’s system of bonuses and incentives encouraged bankers to engage in fraudulent lending practices to boost their incomes, NAB told a powerful judicial inquiry into the scandal-ridden sector on Wednesday.