Daily US Opening News – Show Notes (12th September 2025)Welcome to today’s market and news briefing — a focused look at FX, commodities, trade, and geopolitics as we move into the US session.FX & Currency MarketsThe US dollar is recovering after Thursday’s losses, with the DXY near session highs ahead of University of Michigan sentiment data.EUR/USD is steady after a hawkish ECB tone, with October cuts seen as unlikely and December flagged as the next review window.GBP/USD is slightly weaker following in-line UK GDP data, leaving BoE expectations unchanged.USD/JPY is trading near the top of its recent range as political turmoil in Japan raises doubts about BoJ tightening.AUD/USD and NZD/USD are under pressure as risk sentiment fades, while the PBoC fixed USD/CNY slightly stronger at 7.1019.CommoditiesCrude oil prices have bounced back from early losses, with WTI and Brent hitting session highs.EU officials reportedly see G7 100% tariffs on China/India as unlikely, easing some downside pressure.Gold and silver are rallying despite dollar strength, with silver above USD 42/oz and gold near record highs.Copper is firm on supply concerns after Peruvian output dropped 2% in July.Commerzbank raised its gold forecast to USD 3,800/oz by end-2026 and lifted targets for silver and platinum.US Energy Secretary Wright encouraged Europe to accelerate its phase-out of Russian energy to pressure Moscow.Trade & TariffsUS Treasury Secretary Bessent is meeting Chinese Vice Premier He in Madrid next week to discuss national security, trade, and TikTok regulation.Bessent will also meet Spanish leaders and join President Trump in the UK for a state visit.China condemned Mexico’s planned tariffs and pledged countermeasures.Taiwan said progress has been made in trade talks with the US and is seeking more balanced terms.The US ambassador-designate to India said relations are improving and reiterated Washington’s call for India to stop buying Russian oil.GeopoliticsMiddle East:Israel’s UN envoy warned it will continue operations against terror leaders.Qatar condemned an Israeli strike in Doha as a sovereignty violation, warning that it undermines peace mediation efforts.Russia-Ukraine:Japan imposed new sanctions and lowered its price cap on Russian crude, adding export restrictions on entities in China, Turkey, and the UAE.G7 finance ministers will discuss new US proposals for higher tariffs on Russian oil, but EU officials are skeptical of extreme measures.NATO will hold a joint press conference later today, potentially outlining additional support measures.Wrap-UpThese are the key stories driving FX and commodity markets this morning. Watch for US data, Bessent’s upcoming meetings, and fresh geopolitical headlines, which could steer price action into the close.

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