Gold hovers near $3,500 on Fed cut bets; yen weakens past 147.70 as BOJ signals distant hikes.
- Goldman Sachs: Trump may pivot to new tariff tools if courts reject IEEPA-based hikes
- USD/JPY back above 147.60, USD stronger across the majors board, while gold shakes it off
- Gold to a record high above US$3505
- Japan trade negotiator Akazawa says no date set yet for his next visit to the US
- BoJ’s Himino says despite 3 rate hikes inflation still high, real rates still low
- Australian net exports contribute +0.1% to Q2 GDP (economic growth)
- PBOC sets USD/ CNY central rate at 7.1089 (vs. estimate at 7.1325)
- China’s CSI 300 surges 25% as Beijing pushes reforms to build trust, and a bull market
- UBS sticks to its gold US$3700 forecast. Shorter-term, ANZ say watch the jobs report.
- There will be a digital yen in 2026 – Japan Post Bank in major blockchain payments push
- Chinese media reports say Foxconn is ramping up wages ahead of iPhone 17
- South Korea August consumer price index marks slowest rise y/y since November 2024
- New Zealand terms of trade for Q2 2025 surges by +4.1% q/q (expected +1.9%)
- Morgan Stanley tips Fed for a dovish slam-dunk: three or more consecutive rate cuts coming
- UBS tips a Fed ‘four-peat’: four straight rate cuts at the next four meetings
- ECB rate cuts are over says Dolenc, cites stable inflation, EU-US trade deal certainty
- Friday’s US jobs report (NFP) is critical for the short-term direction of the US dollar
- Economic calendar in Asia Tuesday, September 2, 2025 (ps. I can offer you insider info)
- Bessent says he is confident the US Supreme Court will not trash Trump’s tariffs
- investingLive Americas FX news wrap: Precious metals shine on Labor Day
Gold extended its rally, topping US$3,500 before easing just shy of the round number, supported by safe-haven inflows and expectations the Federal Reserve will soon lower interest rates.
The yen weakened as the US dollar pushed broadly higher, with USD/JPY reaching above 147.70. Bank of Japan Deputy Governor Himino said further rate hikes would eventually be warranted, though the timing remains unclear. Separately, Japan’s top trade negotiator Akazawa rejected reports that Washington pressed for lower agricultural tariffs and reiterated calls for Trump to cut auto levies.
Looking ahead, traders will watch for Trump’s scheduled announcement at 2pm US Eastern time Tuesday (6pm GMT).
Asia-Pac
stocks:
- Japan
(Nikkei 225) +0.25% - Hong
Kong (Hang Seng) +0.1% - Shanghai
Composite -0.4% - Australia
(S&P/ASX 200) -0.2%
This article was written by Eamonn Sheridan at investinglive.com.