Show Notes – Market & News Briefing (17 Sept 2025)
Theme: Markets steady ahead of FOMC; crude eases slightly after strong rally; TikTok deal extended; Europe and US step up pressure on Russia; Modi backs Trump’s Ukraine peace push.
FX & Central Banks
- USD flat after Tuesday’s slide; DXY steady near 97.
- EUR/USD holds above 1.18, printing YTD highs; focus on Fed dots and Powell presser tonight.
- GBP stable ahead of UK CPI; markets still price BoE on hold.
- USD/JPY muted after mixed Japanese trade data; yen supported by narrower export decline.
- PBoC sets stronger USD/CNY midpoint at 7.1013 vs 7.1021 expected.
- AUD/NZD consolidate gains, cautious into FOMC and BoC decisions.
Commodities
- Crude slightly lower after rally; still supported by Transneft restricting Russian oil storage, risk of forced output cuts.
- API data: crude -3.4M bbl draw, gasoline -0.7M bbl, distillates +1.9M bbl.
- Japan’s JERA in advanced talks to buy $1.7B in US nat gas assets.
- Gold eases after recent record highs; silver -1% in early Shanghai trade.
- Copper retreats on cautious risk tone pre-FOMC.
Trade & Tariffs
- White House extends TikTok sale deadline to Dec 16.
- Deal framework: new US entity, ByteDance to keep 20% stake, US users migrate to new app.
- Chinese state media: approval process will follow Chinese law; agreement in both sides’ interest.
- US and China in final stage of talks for Trump state visit to Beijing, bulk US goods purchases key deliverable.
- EU & Indonesia conclude trade deal talks, plan signing next week to diversify supply chains.
Geopolitics
- Russia–Ukraine:
- EU to propose faster phase-out of Russian fossil imports; von der Leyen calls Trump to coordinate sanctions.
- IAEA team at Zaporizhia NPP reports shelling nearby, no damage reported.
- Trump & Modi hold call; Modi backs Trump’s efforts for peaceful resolution.
- Middle East:
- Japan confirms it will not recognize Palestinian state at UNGA.
- Asia:
- Hong Kong CE Lee reaffirms 2–3% growth outlook, pledges more housing supply, northern metropolis development, and AI task force.
- HKMA to encourage banks to set up regional HQs; HKEX to attract SE Asia listings.
Key Watchpoints
- FOMC decision and Powell press conference tonight – key for USD, gold, and risk assets.
- BoC, BoI decisions also due today.
- UK CPI and EZ HICP final prints in focus for GBP and EUR.
- Watch for finalization of Trump–Xi Beijing visit announcement and TikTok approval steps.
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.