InvestingLive Asia-Pacific FX news wrap: Fed's Daly shifts more dovish, September hint ...Middle East

Saylor's Strategy acquired US$2.46bn worth of bitcoins last weekGoldman Sachs expects September Fed rate cut, up to 50bp if jobs mkt slips furtherChina S&P Services PMI July 2025: 52.6 (expected 50.2)Australian June Household spending +0.5% m/m (prior +1.0%)PBOC sets USD/ CNY central rate at 7.1366 (vs. estimate at 7.1667)New Zealand data - July Commodity prices -1.8% m/m (prior -2.4)Trump will be on CNBC Squawk Box Tuesday 8am US time - pre mktJapan's Akazawa is yet to confirm the tariff agreement with the USJapan final Services PMI for July 2025 53.6 (prior 51.7)BoJ June minutes: to continue raising policy rate if economy, prices move in line forecastICYMI - Société Générale warns of bubble risk if S&P 500 gets above 7500!Trump firing stats office head ignites concerns the US becoming "Latin America or Turkey"Australia S&P Global July final services PMI 54.1 (prior 51.8)UBS warns U.S. credit markets are too complacent as junk bond spreads near decade lowsBoA stick with Fed rate hold call despite market pricing in September cut on weak job dataICYMI - EU delays retaliation against Trump tariffs for six monthsHong Kong's central bank FX intervened yet again to support the HKDUS CFTC launches push to allow spot crypto trading on registered futures exchangesInvestinglive Americas FX news wrap 4 Aug. US stocks nearly erase the employment tumbleICYMI - Morgan Stanley expect a modest pullback in US stocks in Q3, 10%US stocks close near session highs. Nasdaq back above 100 hour MAFed's Daly comments - be careful of the narratives pundits are choosingFed's Daly says two FOMC rate cuts in 2025 seem appropriate

News and data flow was relatively light during the session, though a few notable developments emerged. Federal Reserve Bank of San Francisco President Mary Daly adopted a more dovish tone in her latest remarks. While she emphasised that a September rate cut isn’t guaranteed, the overall shift in language leaned in that direction. As expected from a central banker, her comments included several caveats, but the change in tone was still evident.

In China, the privately surveyed July services PMI came in well above expectations and stronger than June’s reading. The report cited robust demand and a rebound in export orders.

Asia-Pacific equity markets are trading higher across the board, following a strong bounce on Wall Street to start the week.

Australia (S&P/ASX 200) +1%

Hong Kong (Hang Seng) +0.02%

Japan (Nikkei 225) +0.6%

Shanghai Composite +0.4%

Take care to be aware of this, Trump appearing on market-TV Tuesday morning US time:

This article was written by Eamonn Sheridan at investinglive.com.

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