- Federal Reserve’s Daly speaking Wednesday 24 Sept, her outlook for the economy, policy
- Bank of England Monetary Policy Committee member Greene speaks on Wednesday, September 24
- Australian consumer prices rose in August at fastest annual pace in a year – RBA won’t cut
- China’s Premier Li Qiang urges Canada to have an accurate understanding of China
- Australian dollar jumped after the hot CPI data that rules out an RBA rate cut next week
- Australian monthly CPI (August 2025) +3% (expected 2.9%, prior 2.8%)
- PBOC sets USD/ CNY mid-point today at 7.1077 (vs. estimate at 7.1080)
- Reserve Bank of New Zealand new Governor appointed: Anna Breman
- China drops WTO developing-nation status claims, removing barrier to US trade reform talks
- Japan September Preliminary Manufacturing PMI 47.4 (prior 49.7)
- Super Typhoon Ragasa to hit Hong Kong. Hong Kong’s Stock Exchange will remain open.
- Hedge fund Verdad eyes Japan small-cap fund as investor demand grows
- UBS kept its EUR/USD forecasts at 1.23 for end-2025 and 1.18 for 2026, citing Fed cuts
- Despite adoption trends, Deutsche Bank says neither Bitcoin nor gold will supplant the USD
- Canadian PM Carney says trade negotiations with Trump are ongoing
- Chinese President Xi won’t meet with Trump in 2025, maybe next year!
- Zelenskiy sees Trump support strengthening, says U.S. could sway China on Ukraine war
- OECD upgrades global growth forecast to 3.2%, warns tariff shock yet to hit
- Morgan Stanley to launch retail crypto trading via E-Trade in 2026, “tip of the iceberg”
- investingLive Americas FX news wrap 23 Sep: Fed’s Powell remains cautious on Fed policy
- Oil – private survey of inventory shows a headline crude oil draw vs. build expected
- Tether seeks $20B raise at $500B valuation
The focus today was Australia’s August monthly CPI report. While the monthly series does not capture all components of the CPI, it offers a timelier guide ahead of the full quarterly release in late October.
Headline inflation quickened to 3% y/y, the fastest pace in a year:
-
up from 2.8% in July
-
above the 2.9% consensus
-
at the top of the RBA’s 2–3% target band and above the 2.5% midpoint agreed with government
The data effectively rules out a rate cut at next week’s RBA meeting (Sept 29–30) and has trimmed market pricing for a November cut to around 50% from 70%. The Australian dollar jumped on the release and extended gains to above 0.6620. Australian equities subsided.
Elsewhere, Japan’s September PMIs were mixed — manufacturing contracted further while services expanded — leaving the yen a little weaker. In New Zealand, Finance Minister Willis confirmed Anna Breman, currently First Deputy Governor at Sweden’s Riksbank, will take over as RBNZ Governor on December 1.
The USD broadly firmed during the session, though AUD was a clear outperformer. Equities traded mixed. In crypto, Tether is reportedly targeting a US$500 billion valuation in a major capital raise.
Asia-Pac
stocks:
- Japan
(Nikkei 225) -0.25% - Hong
Kong (Hang Seng) +0.72% - Shanghai
Composite +0.46% - Australia
(S&P/ASX 200) -0.97%
This article was written by Eamonn Sheridan at investinglive.com.