Show Notes – Market & News Briefing (24 Sept 2025)Overview: Today’s briefing covers the latest developments in FX, commodities, trade policy, and geopolitics — the core drivers shaping global markets as Europe opens.Topics Covered:FX & Central Banks:Dollar firmed, EUR/USD briefly dipped below 1.18, GBP steady above 1.35.USD/JPY moved toward 148.00 after weak Japanese PMIs.AUD rallied on stronger-than-expected inflation; NZD followed higher.PBoC fixed yuan in line with expectations; reports of RBI intervention to support INR.Commodities:Oil extended gains on Trump’s rhetoric and reports Russia may prolong gasoline export ban.US crude inventories showed a sharp draw, though weaker internals tempered the move.Gold held above $3,750/oz after hitting record highs.Copper slipped below $10,000/t; Peru’s Antamina mine forecast lower copper output this year but stronger zinc production.US administration in talks for an equity stake in Lithium Americas as part of Thacker Pass project loan renegotiation.Trade & Tariffs:Trump to host Australian PM Albanese in October.Trump endorsed Argentina’s President Milei for re-election.Canada’s PM Carney said trade talks with US will continue under the USMCA review; open to steel tariff discussions with China.China’s Commerce Ministry: no preferential treatment at WTO; Premier expressed willingness to improve relations with Canada.Geopolitics:Trump said NATO countries should shoot down Russian aircraft entering alliance airspace; G7 warned Moscow of added costs for repeated violations.Trump stated Ukraine could “win back all its territory” with NATO and EU support; Zelensky welcomed the remarks.Iran faces potential UN sanctions “snapback” as it fails to meet European conditions; Khamenei reiterated Iran does not intend to develop nuclear weapons.Macron to meet Iran’s president this week.US envoy reported Israel and Syria may be close to a de-escalation agreement on border tensions.Why It Matters: Today’s developments highlight rising FX volatility, commodity market sensitivity to geopolitical risks, and shifting dynamics in trade and security policy — all critical drivers for market direction.

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