Report published August 25, 2026
Westpac Morning Report: Global Risk Softens on Iran Sanctions, Tariffs, and Tech Pressure (August 25, 2026)
Source and citation context
- Issuer
- Westpac
- Report date
- August 25, 2026
- Analysis as of
- August 25, 2026
Authors / editors: Pat Bustamante (Author)
Finvaulta summarizes Westpac's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Risk sentiment softened overnight driven by geopolitical friction from US sanctions on Iran, auto tariff threats against Canada, and tech stock losses ahead of Nvidia earnings. Government bond yields eased slightly, while commodities were mixed with oil falling 2.4% and gold gaining.
Key Takeaways
- 1.Global risk sentiment softened amid US sanctions on Iran ('economic D-Day'), rising US-Canada trade tensions (50% auto tariffs), and potential new US tariffs on China.
- 2.Equity markets weakened led by semiconductor and tech stocks ahead of Nvidia's earnings, while bond markets rallied slightly on reports the US Treasury may buy back higher-yielding debt.
- 3.The US Chicago Fed National Activity Index dropped to -0.08 in July, indicating that US economic momentum slowed entering Q3.
Table of Contents
- Key themes
- Data snapshot
- Financial Markets
- Today’s key data and events
- International Data
Report data
FX Last 24 hrs — as of August 25, 2026.
| Metric | Estimate | Context |
|---|---|---|
| US 10-year Treasury Yield | 4.70% | Fell after reports that the US Treasury could use cash stockpile to buy back higher-yielding bonds. |
| WTI Crude Oil Price | 85.01 USD/bbl | Fell despite US sanctions rhetoric against Iran. |
| AUD/USD Exchange Rate | 0.7150 USD per AUD | Declined ahead of RBA Minutes release. |
| Chicago Fed National Activity Index | -0.08 index points | Indicates US economy started losing momentum in Q3. |
| S&P/ASX 200 | 9103 points | Local Australian equity index gain. |
Reports in this series
Morning Report is shown in chronological order through this edition, published on August 25, 2026.
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Authors / Editors
Reported Data Context
- US 10-year Treasury Yield: 4.70 % (2026-08-25) · Source: Bloomberg
- WTI Crude Oil Price: 85.01 USD/bbl (2026-08-25) · Source: Bloomberg
- AUD/USD Exchange Rate: 0.7150 USD per AUD (2026-08-25) · Source: Bloomberg
- Chicago Fed National Activity Index: -0.08 index points (2026-07) · Source: Federal Reserve Bank of Chicago
- S&P/ASX 200: 9103 points (2026-08-25) · Source: Bloomberg