The U.S. administration granted a 90‑day tariff exemption for up to 300,000 tons of ground‑beef imports to ease domestic meat‑price inflation. The measure excludes other meat categories.
ECB official Lane stated Eurozone inflation will likely hover around 3% for the rest of the year, well above the 2% target. Geopolitically‑driven energy‑price gains add policy uncertainty。
Samsung Electronics’ KRW 110‑trillion shareholder‑return package disappointed investors. Samsung shares tumbled 8.7%, dragging the KOSPI index down 3.12% and weighing heavily on semiconductor stocks。
Inflation remains above the 2% target. The improvement in inflation during the summer does not indicate a trend reversal, and the possibility of further interest rate hikes remains. The primary task is price stability. The market had widely expected an interest rate cut, and the dollar strengthened and US Treasury yields rose after the speech.
：Inflation rebounded across European countries. France’s August CPI hit 2.7% and Spanish inflation reached 4.5%, a three‑year high. Markets have fully priced an ECB rate hike in September. The U.S. House of Representatives will vote on a stop‑gap spending bill in September; failure to pass it risks a partial federal government shutdown. U.S. Treasury yields moved higher, and global risk assets traded cautiously。
Driven by rising U.S. Treasury yields, USD/JPY climbed back above 160. Despite Japan’s record‑size foreign‑exchange intervention, downward pressure on the yen persists. Markets are closely watching the Bank of Japan’s September policy meeting for potential rate hikes to support the currency.
Fed Governor Michael Barr told a Washington banking forum he would back additional rate increases if inflation fails to cool toward the 2‑percent target. He warned of broadening price pressures. The Fed can afford to pause tightening only when inflation shows clear downward momentum. His remarks reinforced market jitters over a September rate hike.
Persistent extreme summer heat in Europe has lowered river water levels and disrupted inland shipping alongside agricultural output. It is estimated to drag EU GDP down by roughly 0.2 percentage points. Sugar and other farm goods output has dropped to multi‑decade lows, reviving food‑inflation risks. Economists warn recurring heat will keep lifting European production and logistics costs.
Qualcomm and Amazon announced a multi-generation AI chip partnership to co-develop custom processors for Amazon Web Services data centers. The collaboration aims to cut AI computing costs and boost inference speed for cloud-based large language models. It marks another landmark deep tie-up between cloud providers and chipmakers.
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The US August Manufacturing PMI rose to 50.8, crossing back above the 50 expansion threshold and beating market forecasts of 49.5. New orders improved markedly and factory employment expanded modestly. The data reinforces the view that the US economy remains resilient, leaving the Fed more room to keep rates high or hike further.
The Governor of the Reserve Bank of Australia stated that domestic services inflation remains sticky and the labour market is tight, leaving no room for near-term rate cuts. Markets scaled back bets for reductions this year, supporting the Australian dollar. The RBA will continue monitoring service prices and wage growth.
The Baltic Dry Index rose for the third consecutive week. Shipping risks in the Strait of Hormuz pushed up insurance and freight costs. Container rates on Asia-Europe routes also increased. Global traders are rerouting shipments to avoid geopolitical risks in Middle Eastern waters.
Hawkish Fed rate-hike bets pushed the US Dollar Index above 106. The euro, British pound, Australian dollar and other major non-US currencies weakened in tandem. Emerging-market currencies faced greater depreciation pressure, and many central banks stand ready to use foreign reserves to stabilize exchange rates.
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The Bank of Japan raised its policy rate by 25 basis points to 1.25% at its September 18 meeting, the highest level since 1995. The central bank said it will keep monitoring Middle East tensions, AI demand and FX impacts on domestic prices, with further hikes still on the table. USD/JPY jumped shortly after the decision.
The European Union tabled a new proposal to expand the CBAM scope and tighten carbon accounting for imported steel. High‑emission steel imports will be subject to extra tariffs.
Food giant Nestlé announced price hikes for selected consumer goods across multiple markets to offset rising costs of cocoa, sugar and energy and protect profit margins.
An international financial institution released a report. Debt restructuring talks for several low-income African countries are moving slowly. Heavy interest payments squeeze fiscal budgets and hinder recovery. Debt risks deserve continued attention
Today’s central parity rate of the RMB against the US dollar was raised moderately. Onshore foreign exchange sentiment remains calm. The central bank continues to anchor expectations, guard against one-sided swings, and cross-border capital flows stay generally orderly.
Earnings reports from luxury groups show high-net-worth consumers in Europe and America are more cautious, while demand in China and Southeast Asia remains steady. Brands adjust pricing strategies and target new Asian consumers.
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