📊 Morning Market Update | 15 August 2025 🌏 📈 Futures Edge Higher US index futures are modestly in the green – S&P 500 +0.2%, Dow Jones +0.15%, while Nasdaq is flat after Thursday’s mixed close. The 10-year US Treasury yield has eased to around 4.27% (-2 bp) as traders digest hotter-than-expected inflation data. 🏭 PPI Surprise July producer prices jumped +0.9% m/m and +3.3% y/y (forecast: 2.5%), with core PPI rising to +3.7% y/y – the highest since April. Gains were led by services, trade margins, portfolio-management fees, and goods such as vegetables, heating oil, electronics, and scrap steel. The data reduced hopes for aggressive Fed cuts, with markets now pricing a ~92% chance of a 25 bp cut in September. 💱 FX Moves The 💵 USD is slightly softer after yesterday’s rally. AUDUSD holds near 0.6480, NZDUSD around 0.5980. The yen (USDJPY ~148.10) and franc (USDCHF ~0.8090) remain firm, while EURUSD trades just below 1.1650. 📊 Asia & Europe Asian markets are mixed – Japan’s Nikkei 🚀 +1.6% on upbeat GDP, Hong Kong’s Hang Seng 📉 –1.1%, while mainland Chinese indices gained ~0.8% on hopes for policy stimulus. European futures point to a cautious open. 💵 Commodities & Metals Gold ✨ +0.3% to $3,344, silver +0.2%. Oil 🛢️ is slightly lower – Brent near $84.70 – as traders weigh weaker demand forecasts. Natural gas 🔥 is flat after a volatile session following US inventory data. 💹 Crypto Buzz Bitcoin 💎 briefly touched a fresh record near $124,500 before easing to ~$123,800 (+0.8%). Ethereum 🚀 +1.7% to $4,640. Altcoins are mixed – Dogecoin 🐕 +0.9%, Polygon –0.4%, Ripple –0.6%. 🕊 Geopolitics in Focus All eyes are on today’s Trump–Putin summit in Alaska, starting at 11 a.m. AK time. Any surprise announcement on a Ukraine ceasefire could trigger sharp moves in energy, metals, and defence-linked stocks.