Show Notes – Market & News Briefing (30 Sept 2025)Overview: Today’s episode covers fresh FX dynamics, commodity market moves, tariff announcements from Washington, and major geopolitical shifts in Gaza and Ukraine.Topics Covered:FX & Central Banks:Dollar steady around the 98 mark, with shutdown risks and tariff headlines shaping sentiment.Euro flat, sterling held above 1.34 ahead of BoE speakers.USD/JPY steady but nudged by a BoJ Summary of Opinions that carried hawkish undertones.AUD gained after the RBA struck a hawkish tone despite keeping rates unchanged; firmer CNY fixing supported both AUD and NZD.PBoC set yuan midpoint at 7.1055, slightly firmer than expected.Commodities:Oil fell as OPEC+ was reported to be considering an output hike and Iraq resumed Kurdish exports to Turkey after more than two years.Gold surged past $3,850/oz, supported by haven demand tied to fiscal and geopolitical uncertainty.Copper slipped modestly on tariff-related sentiment and softer risk appetite.Trade & Tariffs:White House confirmed new tariffs:10% on timber and lumber from Oct 14.25% on vanities, kitchen cabinets, and upholstered products from Oct 14.Cabinet tariffs rising to 50% and upholstered furniture to 30% on Jan 1, unless deals are reached.Switzerland offered to invest in U.S. gold refining to reduce its 39% tariff burden.South Korea noted challenges in securing a U.S. FX swap arrangement.Geopolitics:White House unveiled a 20-point Gaza peace plan, outlining phased Israeli withdrawal, suspension of hostilities, and hostage release within 72 hours of agreement.President Trump said a deal is “beyond very close” but pledged full U.S. backing for Israel if Hamas rejects it.A Dutch-flagged cargo ship was hit by an explosive device in the Gulf of Aden, injuring two crew and highlighting ongoing maritime risks.Russian President Putin reaffirmed commitment to the Ukraine war, calling it a righteous battle Russia will win.Why It Matters: Currency moves, tariff policy shifts, and renewed supply-side developments in energy are feeding into broader market volatility, while geopolitics from Gaza to Ukraine continues to frame global risk appetite.

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