The yen softened while other major FX traded quietly, with USD/JPY nudging above 147.30 and the yuan hitting its strongest since November. Australia’s July CPI surprised on the upside, reducing prospects of a near-term RBA cut. From China, industrial profits fell for a third straight month, underscoring weak demand and persistent margin pressures.China official says will announce more policies in September to broaden service consmptionAI hype deflates on weak returns and bubble talk — Nvidia earnings now the make-or-breakChinese broker raises its margin deposit ratioGoldman Sachs sees Brent falling to low $50s by 2026 as oil surplus swellsChina data - July Industrial profit -1.5% y/y (prior -4.3%)Australian monthly CPI (July 2025) 2.8% y/y (vs. 2.3% expected)Australian data - Q2 2025 Construction Work Done +3.0% q/q (vs. expected +0.8%)PBOC sets USD/ CNY central rate at 7.1108 (vs. estimate at 7.1559)Australian leading index remains subdued: ‘Slow motion’ recovery continues to underwhelmCanary in the crypto coal mine: Wall Street tests limits with Trump meme coin ETFChina to hold rare DC trade talks; Trump warns of 200% tariffs over rare earth exportsBlackRock buys $315m Ethereum as spot ETFs attract $444m in fresh inflowsJapan's head trade negotiator Akazawa is heading back to the US on ThursdayAustralia’s Woolworths posts A$1.39b profit, down 19% but in line with forecastsICYMI: Morgan Stanley forecasts two 25-basis-point rate 2025 cuts, September then DecemberTrump’s Fed attack and Powell’s rate-cut signals raise risk of deeper US dollar selloffUBS warns captured Fed could unleash inflation chaos, drive up borrow costs, choke growthJP Morgan bullish EUR/USD view, sees 1.20 in Q4 and 1.22 in 1H 2026. But downgrades yen.Oil: private survey of inventory shows a smaller headline crude oil draw than was expectedinvestingLive Americas FX news wrap 26 Aug: Trump fires Fed's Cook and looks for control.Trump wants to extend his 'influence' to Federal Reserve BanksMajor US stock indices close higher led by the small-cap Russell 2000Major FX traded in relatively subdued ranges apart from the yen, which weakened as USD/JPY edged up from just below 147.30 to above 147.80. The only news of note was confirmation that Japan’s chief trade negotiator, Akazawa, will return to Washington on Thursday for talks on Japanese investment in the U.S. Meanwhile, the Chinese yuan strengthened to its highest level against the dollar since November.Data:Australia’s monthly inflation came in hotter than expected in July, moving closer to the top of the RBA’s 2–3% target band. Headline CPI rose 2.8% y/y, the fastest pace in 12 months, up from 1.9% in June and well above the 2.3% forecast. The stronger print reduces already slim prospects of a September rate cut, with market pricing for easing edging a little lower after the release.From China, industrial profits slipped 1.7% in the January–July period from a year earlier, with July profits down 1.5% y/y after a 4.3% drop in June. It marked a third straight monthly decline as deflationary pressures, weak domestic demand and intense competition weighed on margins. Despite Beijing’s efforts to rein in excess competition, profitability has yet to improve.Asia-Pacstocks:Australia(S&P/ASX 200) +0.15%HongKong (Hang Seng) +0.1%ShanghaiComposite +0.2%Japan(Nikkei 225) +0.3% This article was written by Eamonn Sheridan at investinglive.com.