Show Notes – Market & News Briefing (22nd August 2025)
Today’s episode covers the latest developments across FX, commodities, trade, and geopolitics:
- FX: Dollar stays firm ahead of Powell’s Jackson Hole speech. EUR/USD drops below 1.16, GBP slips back toward 1.34, USD/JPY trades above 148, and CNY fixed stronger than expected.
- Commodities: Oil steady as Russia–Ukraine conflict pressures energy infrastructure; Brent near $67, WTI around $63. Gold softens on dollar strength, copper flat as markets wait for Fed signals.
- Trade & Tariffs: China confirms President Xi will skip the October ASEAN Summit, ending hopes for a meeting with Trump. Canada’s PM Carney and Trump discussed trade challenges. Washington considers reallocating $2bn in CHIPS Act funds to critical minerals.
- Geopolitics:
- Ukraine hit by heavy Russian strikes overnight; Zelensky says Moscow is avoiding real peace talks.
- Trump suggests clarity on Russia–Ukraine could come “in about two weeks.”
- Israel says it will begin ceasefire talks over Gaza; US urges restraint in Lebanon to aid Hezbollah disarmament efforts.
- Iran preparing nuclear discussions with European counterparts; US imposes new Iran-related sanctions.
- China condemns US naval activity near Venezuela.
- North Korea’s Kim Jong Un praises military officers involved in overseas operations.
Takeaway:
Markets are cautious heading into Jackson Hole, with the dollar supported by Fed rhetoric, oil steady on geopolitical risk, and tensions escalating across Ukraine, Gaza, and beyond.