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Japan revised Q2 GDP growth up to 1.4% annualised as USD/JPY slid below 153, strengthening the case for further BOJ tightening and raising carry-trade risk across global markets.
The yen strengthened through 155 to a seven-month high after Japan disclosed a record $79.6B August reserve drop, sharpening the September BOJ hike and carry-trade setup.
Saudi Aramco’s 400,000-bpd Jazan refinery was hit again on September 7, turning the Gulf energy-risk thesis from rhetoric and shipping disruption into a fresh physical-infrastructure event as Brent presses toward $100.
OPEC+ is holding October production requirements at September levels, pausing six months of increases as U.S.-Iran fighting and Hormuz shipping risk keep crude, inflation and cross-asset volatility elevated.
Saudi Arabia’s East-West pipeline outage and a fresh Strait of Hormuz vessel attack deepen the Gulf oil shock, while Trump’s Iran/oil remarks add a new policy-risk layer to supply expectations.
U.S. payrolls rose 162,000 in August with unemployment steady at 4.1%, sending Treasury yields and the dollar higher while gold fell and Fed hike risk returned to the center of the macro trade.
Gold surged about 2% to roughly $4,473 after Fed Governor Christopher Waller said cooling inflation could justify holding rates steady in September, pushing hike odds lower and reinforcing the metals rally.
Trump said the renewed U.S. campaign against Iran would not last too long, giving oil, bond and crypto traders a fresh de-escalation signal while Hormuz risk remains elevated.
Bitcoin’s 90-day correlation with gold has reached a record while the 30-day measure climbed near 0.8, sharpening the debate over whether BTC is trading like digital gold or simply sharing the same macro drivers.
Nvidia CEO Jensen Huang urged G20 policymakers to avoid AI rules built around theoretical harms, putting regulation, copyright and model deployment back into the AI trade.
