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China August 2026 inflation data.
CPI YY 0.8%, National Bureau of Statistics (NBS) cite rising energy prices
CPI MM 0.4%
PPI YY 3.8%
PPI MM +0.4%
I'll have more to come on this separately, details and implications for markets.
Background:
This article was written by Eamonn Sheridan at investinglive.com.PBoC sets CNY at its strongest since 8 February 2023
Also to come from China today:
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The People’s Bank of China is due to set the daily USD/CNY reference rate at around 0115 GMT (2115 US Eastern time), a fixing that remains one of the most closely watched signals in Asian foreign exchange markets. China operates a managed floating exchange rate system, under which the renminbi (yuan) is allowed to trade within a prescribed band around a central reference rate, or midpoint, set each trading day by the PBOC. The current trading band permits the currency to move plus or minus 2% from the official midpoint during onshore trading hours. Each morning, the PBOC determines the midpoint based on a range of inputs. These include…Brent's move higher on tonight's regular reopen, coming after Iran's missile strikes on US bases in Jordan, is a live illustration of why the two benchmarks aren't interchangeable for traders positioning around geopolitical risk. Brent's price is built on seaborne North Sea crude and functions as the reference point for globally traded oil, so it tends to react faster and more directly to Gulf shipping and Middle East supply threats. WTI, priced off landlocked US production delivered at Cushing, Oklahoma, is more insulated from a Gulf-specific shock and more sensitive to domestic US drivers such as shale output, refinery demand and Cushing storage levels.
That split is why a trader specifically wanting exposure to Middle East or global…
Bitcoin showed only a modest reaction to the filing, easing from session highs near 78,900 dollars to lows around 78,000 dollars on September 8, a move too shallow to read as a clear market verdict. That restraint fits the nature of the news: a charter application signals intent, not regulatory approval, and traders have grown accustomed to a steady stream of OCC filings from crypto adjacent firms over the past year. The more market relevant catalyst remains a decision from the OCC itself, which has moved through Circle, Ripple, BitGo, Paxos and Revolut's applications on a broadly similar timeline. Until then, the filing is best read as reinforcing a structural narrative around institutional custody rather than a near term price driver.
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<p…The stronger Reuters Tankan reading adds to the case for continued Bank of Japan policy normalisation, with manufacturer sentiment now at its best level since December 2021 and both current and forward-looking indexes pointing higher. A steady, broad-based improvement rather than a single-sector spike gives the BOJ more room to look through near-term noise when it weighs its own quarterly Tankan and future rate decisions. The yen may see modest support on the read-through to a firmer BOJ policy path, though the poll's own flagged risks, Middle East tensions, input costs and soft domestic consumption, are likely to keep any move measured. The Nikkei 225 could find modest support from the read-through to resilient corporate conditions,…
Hauser's Tuesday evening comments keep a September rate hike firmly on the table across Australian rates, currency and equity markets, even though he avoided calling it a certainty. The Australian dollar is the most direct read-through, with a clearer tightening bias typically supportive for the currency against major peers, while Australian Commonwealth Government Bond yields, particularly at the shorter end, may edge higher as traders price in a greater chance of a move this month. The ASX, and rate-sensitive sectors such as banks, real estate investment trusts and consumer discretionary names in particular, could see some pressure if the market leans further into a hike scenario, given higher borrowing costs typically weigh on…
The immediate market focus is oil, given direct strikes on tanker traffic and explicit Iranian threats to shipping around the Kuwaiti and Bahraini ports that host the US military. Any rerouting or suspension of transits through that corridor would tighten freight and insurance costs and add a fresh geopolitical risk premium to crude benchmarks. Iran's warning against US-linked tankers, paired with Washington's pledge to keep targeting Iranian tankers in response to attacks on US Navy assets, points to sustained rather than one-off disruption risk. With the missile exchange marking one of the largest waves in months and both sides signalling further escalation, oil traders are likely to keep a heavy risk premium priced in through coming…
The practical takeaway for traders is that a sharp Bitcoin move over a weekend should be read as a symptom of thin order books rather than confirmation of a genuine shift in institutional risk appetite. A large move on low weekend volume carries less informational weight than the same move during a US weekday session, when spot ETF flows and institutional participation are concentrated. That distinction matters heading into any weekend with binary macro or geopolitical risk on the calendar, since a sharp Bitcoin swing is as likely to reflect a handful of orders hitting a shallow book as it is to reflect broad repricing. Traders using weekend Bitcoin price action as an early read on Monday's equity or FX open should weight it accordingly,…
A rebound in headline CPI toward consensus would ease immediate deflation concerns without altering the broader policy picture, given the move is expected to be driven by a food price base effect rather than a genuine demand recovery. A miss, echoing July's shortfall against forecasts, would revive questions about the durability of domestic consumption and keep pressure on Beijing to lean further into stimulus. PPI is the more closely watched leg for traders positioning around industrial demand, with a firmer print supporting the narrative that factory-gate deflation is easing even as second-round pass-through to consumer prices remains weak. The yuan is the most directly exposed currency to the print, while the Australian dollar carries…
Inflation data from China is due today. I'll get a preview of this posted separately.
It was an active day of news from China yesterday:
This article was written by Eamonn Sheridan at investinglive.com.