Global Markets Juggle Inflation Pressures, GDP Swings, and Earnings Surprises (August 25 – 31, 2025) 

Global markets navigated a busy week of economic data releases, central inflation signals, and corporate earnings. Key highlights included stronger Australian inflation, a sharp rebound in US GDP, and continued weakness in Canadian output. In Asia, China’s PMI figures showed only marginal growth, underscoring ongoing challenges in manufacturing. Commodities posted mixed performance, with gold and silver rallying while oil prices softened slightly. US equities ended lower, though earnings from HP and Nvidia drew market attention with contrasting stock reactions. 

Major Economic Indicators and Events in Review 

Wednesday, August 27 

04:30 am – Australia: CPI y/y (AUD) 

Australia’s monthly CPI indicator rose 2.8% in the year to July, up from 1.9% in June. 

Excluding volatile items such as fuel, fruit, vegetables, and holiday travel, inflation was 3.2%, compared with 2.5% previously. 

The annual trimmed mean, which smooths out irregular price swings, increased to 2.7% in July from 2.1% in June, highlighting stronger underlying price pressures. 

AUDUSD edged up 0.17% over the past day. 

Thursday, August 28 

15:30 – USA: Prelim GDP q/q (USD) 

US real GDP grew at an annual rate of 3.3% in Q2 2025, rebounding from a 0.5% decline in Q1, according to the BEA’s (US Bureau of Economic Analysis) second estimate. Growth was driven by lower imports and stronger consumer spending, partly offset by weaker investment and exports. 

The revision from the advance estimate added 0.3 percentage points, reflecting stronger investment and consumer spending. Real final sales to private domestic purchasers rose 1.9%. 

Inflation pressures eased slightly, with the gross domestic purchases price index up 1.8% and the PCE price index up 2.0% (2.5% excluding food and energy). Real GDI (Gross Domestic Income) surged 4.8%, lifting the average of GDP and GDI by 4.0%. Corporate profits rose $65.5 billion, reversing a sharp decline in Q1. 

EURUSD increased by 0.38% compared to the previous day. 

Friday, August 29 

15:30 – Canada: GDP m/m (CAD) 

Canada’s real GDP slipped 0.1% in June 2025, marking a third straight monthly decline—the first such streak since late 2022. Goods-producing industries fell 0.5%, led by manufacturing and utilities, while services-producing industries edged up 0.1% on gains in retail trade, real estate, and wholesale trade. Overall, 11 of 20 sectors contracted, highlighting broad economic weakness. 

USDCAD was up 0.05% on the day. 

15:30 – USA: Core PCE Price Index m/m (USD) 

US personal income rose $112.3 billion (0.4%) in July, with disposable personal income up $93.9 billion (0.4%). Personal consumption expenditures climbed $108.9 billion (0.5%). Personal outlays increased $110.9 billion, while the saving rate held at 4.4%, with total personal saving at $985.6 billion. The gain in income was mainly driven by higher compensation. 

USDJPY rose slightly by 0.02% compared to the previous day. 

Sunday, August 31 

04:30 am – China: Manufacturing PMI (CNY) 

China’s Composite PMI edged up to 50.5 in August from 50.2 in July, signaling marginal growth, according to the CFLP. Manufacturing activity remained weak, with the PMI at 49.4, indicating continued contraction. The services sector showed modest improvement, with the Non-Manufacturing Business Activity Index rising to 50.3 from 50.1. 

Commodities 

1. Crude Oil  

1. Crude oil prices increased by 0.38% over the past week 

2. Brent Oil  

1. Brent was down 0.46% compared to the previous week 

3. Gold  

1. The precious metal Gold (XAUUSD) concluded the week on Friday with a 2.26% weekly increase 

4. Silver  

1. XAGUSD increased by 2.13% from last week 

Stock Market 

1. S&P 500 decreased by 0.09% 

2. DJIA was down by 0.19% 

3. NASDAQ 100 decreased by 0.35% 

Top Gainers 

1. Inno Holdings Inc. (INHD) 296.18% 

2. Sound Group Inc. (SOGP) 241.60% 

3. Offerpad Solutions Inc. (OPAD) 234.42% 

Top Losers 

1. ESSA Pharma Inc. (EPIX) -87.56% 

2. J-Star Holding Co., Ltd. (YMAT) -72.27% 

3. Outlook Therapeutics, Inc. (OTLK) -68.24% 

Company Earnings (August 25 – 31) 

Wednesday, August 27: HPQ (HP Inc.) 

Wednesday, August 27: NVDA (NVIDIA Corporation) 

HP Inc. reported Q3 2025 revenue of $13.9 billion, up 3.1% year-over-year. Net earnings rose 19% to $763 million. GAAP EPS increased 23% to $0.80, while adjusted EPS fell 11% to $0.75. 

HPQ shares increased by 2.88% compared to the previous week. 

Nvidia posted Q2 revenue of $46.7 billion, up 56% year-over-year and above expectations, with EPS of $1.05, beating forecasts. The company announced a $60 billion buyback and guided $54 billion for Q3. Despite strong results, data center sales missed estimates slightly, and shares slipped about 3% after hours amid concerns over AI demand sustainability and unresolved China chip sales. 

NVDA shares fell by 2.14% compared to the previous week. 

Conclusion 

The final week of August highlighted diverging global economic trends—firming inflation in Australia, a strong US GDP rebound, and ongoing weakness in Canada and China. Commodities painted a mixed picture, with precious metals rallying while oil eased. Equity markets drifted lower overall, though corporate earnings from HP and Nvidia drew strong investor focus with contrasting outcomes. Looking ahead, markets remain sensitive to shifts in inflation data, trade dynamics, and central bank policy signals as September begins.