Show Notes – Daily Briefing (26 Aug 2025)
- FX: Dollar softens after Trump attempts to fire Fed Governor Cook; euro holds 1.16, sterling steadies, yen choppy near 147. Antipodeans still weak.
- Commodities: Oil eases after Druzhba pipeline disruptions; Canada eyes investment in Japanese refining. Gold recovers on softer dollar; copper flat; Chile’s El Teniente mine faces new restart rules.
- Trade/Tariffs: Trump threatens major new tariffs on countries with digital taxes, warns China on magnets; U.S. and China resume trade talks this week; Canada–U.S. meet after tariff removals; Mercosur–Canada free trade talks to restart.
- Geopolitics:
- Middle East: Trump calls for Gaza settlement within weeks; Australia expels Iran’s ambassador, will list IRGC as terror group.
- Russia–Ukraine: Zelensky meets U.S. envoy Kellogg; Trump says talks with Putin include nuclear issues; warns he may step in if Putin/Zelensky don’t meet soon.
- Koreas: Trump and South Korea’s Lee pledge closer cooperation; North Korea denounces U.S.–ROK drills, said capable of producing 10–20 nuclear weapons per year.
- UK/Europe: UK think tank warns unemployment may reach 5%, highest since early 2021.
What is The Financial Source Podcast?
Your daily dose of sentiment updates in the European and US sessions and critical risk event previews so you stay up to date with what's moving the market right now.