Global Markets Navigate Inflation Surprises and Geopolitical Hopes in a Landmark Week

Introduction: A World in Flux

Global financial markets navigated a landscape of powerful and often contradictory forces during the week ending August 15, 2025. Investor sentiment was caught in a pronounced tug-of-war between palpable optimism and creeping macroeconomic anxiety. On one side, a high-stakes diplomatic summit in Alaska, aimed at brokering an end to the war in Ukraine, fueled hopes for geopolitical de-escalation, lifting equities, particularly in Europe.¹ This optimism was reinforced by continued monetary easing from key central banks in the United Kingdom and Australia, which cut interest rates to shore up their respective economies.³

However, this positive momentum was repeatedly challenged. A surprisingly hot producer inflation report from the United States rattled investors, casting fresh doubt on the Federal Reserve’s ability to cut interest rates in the near future.⁵ Simultaneously, a raft of disappointing economic data from China signalled a deepening slowdown in the world’s second-largest economy, raising concerns about the trajectory of global growth.²

This dynamic environment highlighted three core themes that defined the week’s trading. First, a great divergence in global monetary policy became increasingly apparent, with some central banks actively cutting rates while the U.S. Federal Reserve remained trapped between stubborn inflation and a potentially softening labour market.³ Second, geopolitics re-emerged as a primary market driver, with the outcome of the U.S.-Russia summit influencing everything from European defence stocks to global oil prices.¹ Finally, despite these macroeconomic headwinds, the ongoing second-quarter earnings season provided a crucial pillar of support, particularly in the U.S., where robust corporate profitability encouraged investors to look past some of the economic uncertainty.⁵

The United States: Inflation Data Rattles Rate Cut Certainty

A. Headline Performance: A Record-Setting, Yet Fragile, Rally

On the surface, it was another triumphant week for U.S. equities, with major indices securing their second consecutive week of gains. The blue-chip Dow Jones Industrial Average was the standout performer, adding a strong 1.7%.⁹ The broader S&P 500 rose by approximately 0.94%, while the tech-heavy Nasdaq Composite gained nearly 1%.⁵ The week was punctuated by new milestones, as the Dow touched its first all-time high since December and both the S&P 500 and Nasdaq set fresh records mid-week before a modest pullback on Friday to close out the week.⁵

However, a closer examination of market internals reveals a more fragile foundation for this rally. The week’s strength was disproportionately driven by the outperformance of a handful of mega-cap stocks, while broader market participation showed signs of weakness.⁵ Data indicates that while the S&P 500 set new highs, only 61% of its constituent stocks were trading above their 50-day moving average.⁵ More strikingly, only 24% of S&P 500 stocks have managed to outperform the index itself over the past 60 days.⁵ This “top-heavy” market structure suggests that the rally is not a reflection of broad economic strength but rather a “stock picker’s market” where a few key names are doing the heavy lifting.⁵ Such a narrow leadership makes the market inherently less stable and more vulnerable to shocks affecting these specific mega-cap companies.

B. The Inflation Conundrum: A Tale of Two Reports

The week’s economic calendar delivered a deeply conflicting narrative on inflation, leaving investors and policymakers to grapple with ambiguous signals. The week began with the July Consumer Price Index (CPI) report, which came in largely as expected. The headline index rose by a modest 0.2% month-over-month, bringing the annual rate to 2.7%.⁵ Core CPI, which strips out volatile food and energy prices, also met consensus estimates, rising 0.3% for the month and 3.1% year-over-year.⁵ This initially calmed markets, suggesting that inflationary pressures were contained despite the ongoing impact of trade tariffs.⁵

This sense of relief was shattered on Thursday with the release of the Producer Price Index (PPI), which measures inflation at the wholesale level. The PPI came in shockingly hot, surging by 0.9% month-over-month, dramatically exceeding economists’ forecasts of a 0.2% increase.⁵ The year-over-year figures for both headline and core PPI reached their highest levels since March, with services costs being a primary driver of the increase.⁵ The report triggered an initial market sell-off, though a wave of dip-buying later in the session demonstrated remarkable investor resilience and a continued bullish sentiment.⁵

The significant divergence between producer and consumer inflation presents a critical forward-looking dilemma. Persistently high input costs for businesses, as shown by the PPI, must eventually be resolved in one of two ways. Companies may be forced to absorb these higher costs, which would lead to a compression of their profit margins in subsequent quarters and pose a risk to future earnings. Alternatively, they could pass these costs on to customers, which would translate into higher CPI readings down the road. This would force the Federal Reserve to adopt a more hawkish stance, threatening the very rate cuts the market is anticipating. The market’s decision to “buy the dip” after the PPI shock suggests investors are currently betting that corporations can navigate this challenge without derailing the economy, a wager that carries significant risk if future data shows either eroding margins or accelerating consumer inflation.⁵

Other economic data painted a mixed picture. Retail sales rose 0.5%, slightly below expectations, while the University of Michigan’s preliminary consumer sentiment survey for August fell sharply to 58.6, well below the 62.0 expected, with consumers explicitly citing rising worries about inflation.⁵

C. The Fed’s Dilemma and Market Expectations

The conflicting inflation data has intensified the debate within the Federal Reserve as it approaches its crucial September policy meeting. Public comments from officials reveal a divided committee. Some policymakers, like Governor Michelle Bowman, are focusing on signs of “fragility in the labour market” and argue that the Fed should prioritise its employment mandate, creating a strong case for a rate cut.⁷ In contrast, other officials point to the hot PPI data and stubbornly high prices for services as evidence that the inflation fight is not over, advocating for keeping borrowing costs elevated to cool the economy.⁷

Following the week’s data, market participants have recalibrated their expectations. While hopes for a large 50-basis-point rate cut have been all but extinguished, futures markets are still pricing in a greater than 90% probability of a standard quarter-point cut in September.² This indicates a strong belief among investors that, when faced with a choice, the Fed will ultimately prioritise supporting economic growth over reacting to the spike in producer-level inflation.

D. Corporate Spotlight: A Market of Individual Stories

The week’s trading was heavily influenced by company-specific news, underscoring the “stock picker’s market” environment. The “Buffett effect” was in full force after legendary investor Warren Buffett’s Berkshire Hathaway disclosed it had acquired a stake of nearly 5 million shares in UnitedHealth Group.⁹ The news sent shares of the insurer soaring by 12%, making it the primary driver of the Dow Jones Industrial Average’s outperformance for the week.⁹

In contrast, the semiconductor sector faced a significant sell-off. Shares of Applied Materials plunged 14% after the company issued a disappointing forward-looking outlook.⁹ The negative sentiment spread across the industry, with peers like KLA Corp. and Lam Research sliding 8% and 7%, respectively, while broader concerns about the impact of U.S. tariffs on imported chips added to the pressure.⁹

Despite these pockets of weakness, the broader second-quarter earnings season remains a fundamental pillar of support for the market’s elevated valuations. Of the 459 companies in the S&P 500 that have reported results, an impressive 81% have beaten bottom-line earnings-per-share estimates. Overall, Q2 EPS growth is tracking at a robust 11.28% year-over-year, providing investors with a compelling reason to remain bullish despite the macroeconomic crosscurrents.⁵

Data sourced from.¹⁰

Europe: Eyes on Alaska as Markets Rally

A. Continental Gains Fueled by Diplomatic Hopes

European stock markets posted their strongest week in three months, with investors largely shrugging off the hot U.S. inflation data and focusing instead on geopolitical developments.¹ The primary catalyst for the widespread optimism was the highly anticipated summit in Alaska between the U.S. and Russian presidents, where talks were aimed at finding a diplomatic path to end the war in Ukraine.¹

This hope for a potential ceasefire drove a significant rally across the continent. The pan-European STOXX 600 index climbed 2.2% for the week.¹⁵ Gains were particularly strong in the Eurozone, with Germany’s DAX index adding between 0.81% and 3.2% (depending on the specific calculation) and France’s CAC 40 advancing by approximately 2.6%.¹³

In contrast, the UK’s FTSE 100 index lagged its continental peers, posting a more muted gain of around 0.3% to 0.5%.¹³ This notable underperformance points to deeper, UK-specific economic concerns that tempered the geopolitical optimism. While the entire continent benefited from the positive sentiment surrounding the Alaska summit, the FTSE’s relative weakness suggests that investors remain worried about the UK’s unique “stagflationary” challenge—a difficult combination of stubbornly high inflation and sluggish economic growth. The Bank of England’s own divided policy decision during the week served to underscore this precarious balancing act, leading investors to price in a higher risk premium for UK assets compared to their Eurozone counterparts.³

B. Sector Rotation: The “Peace Dividend” in Action

Market activity throughout the week revealed a clear and logical rotation between sectors as traders positioned themselves for a potential “peace dividend.” Hopes for de-escalation in Ukraine placed significant pressure on defence-related stocks, which have benefited from increased military spending since the start of the conflict. Shares of German defence contractor Rheinmetall, for example, declined during the week.⁸ Conversely, sectors that stand to gain from a return to stability and economic normalisation, such as banks and other financial firms, were among the week’s top performers.⁸

The strong rally ahead of the summit, however, has introduced a significant “event risk” for European markets. Multiple reports explicitly linked the week’s gains to “hopes” and “optimism” regarding the meeting’s outcome.¹ This optimism persisted even after the U.S. president himself sought to manage expectations, giving the talks only a “25% chance” of success.⁸ This indicates that the market has aggressively priced in a positive result for an event with a high probability of disappointment. Consequently, European equities have become highly vulnerable to a sharp reversal. Should the summit fail to deliver a tangible de-escalation, the “peace dividend” that lifted stocks this week could evaporate rapidly, potentially triggering a sell-off in the very sectors that led the advance.

C. Central Bank in Action: The Bank of England’s Divided Decision

The Bank of England’s Monetary Policy Committee (MPC) provided one of the week’s key central bank decisions, voting to cut its main interest rate by 0.25 percentage points to 4.0%.³ While the rate cut itself was widely anticipated by markets, the details of the vote revealed a deep division within the committee. The decision passed by a razor-thin 5-4 margin, highlighting significant disagreement among policymakers about the appropriate path forward for the UK economy.³

The committee is grappling with a difficult economic backdrop. UK CPI inflation rose to 3.5% in the second quarter, remaining well above the bank’s 2% target.³ However, there are signs that underlying price pressures may be easing, with wage growth showing signs of cooling.¹⁷ The BoE’s accompanying statement emphasised that its approach to future policy would be “gradual and careful,” signalling that any further cuts are not on a pre-set path and will be highly dependent on incoming data.¹⁹ The European Central Bank (ECB) did not hold a monetary policy meeting this week.²⁰

D. Economic Health Check

The latest economic data from the Eurozone pointed to continued sluggishness. Flash estimates for second-quarter GDP showed that the economy expanded by a meagre 0.1% in the euro area and 0.2% across the broader European Union, confirming that economic momentum remains weak.²²

Data sourced from.¹⁵ Note: Closing values and weekly percentage changes may vary slightly between sources; representative figures are used.

Asia: A Tale of Two Economies

A. A Region of Stark Contrasts

Asian markets presented a deeply fractured picture this week, with performance dominated by the sharply diverging economic fortunes of the region’s two titans: Japan and China.² While a broad regional index like the Morningstar Asia TME Index posted a respectable 1.7% gain for the week, this headline figure masked significant underlying turmoil and opposing trends in the region’s key markets.²⁵

B. Japan’s Resilience: Nikkei Surges to All-Time Highs

Japan was the unequivocal bright spot in the region. The Nikkei 225 index surged throughout the week, climbing 1.7% on Friday alone to close at a new all-time high of 43,378.31.²⁶ For the full week, the index registered a robust gain of between 2.1% and 2.5%.¹⁵

The primary catalyst for this powerful rally was a set of surprisingly resilient economic data. Japan’s second-quarter GDP expanded by 0.3% quarter-over-quarter, comfortably beating forecasts and allowing the world’s fourth-largest economy to avoid a technical recession.² This growth was achieved despite the persistent overhang of U.S. tariff threats on key industries like automobiles.² The source of this resilience is particularly noteworthy; it was driven not just by exports but by robust private consumption and strong business investment, suggesting a potential structural shift toward a more balanced and domestically supported economy.⁸ This newfound strength could make the Bank of Japan’s path toward eventual policy normalisation easier and may support a longer-term rerating of Japanese equities. The rally was broad-based, with a weakening yen providing a tailwind for exporters, while the prospect of future interest rate hikes from the Bank of Japan boosted financial stocks like Mitsubishi UFJ Financial Group.²⁵

C. China’s Headwinds: Weak Data Weighs on Sentiment

In stark contrast to Japan’s strength, economic data released from China on Friday painted a grim picture of a slowing economy. Key indicators for July all came in below expectations, with annual growth in industrial output slowing to 5.7%, retail sales rising by just 3.7%, and fixed-asset investment growth decelerating sharply.⁶ The prolonged crisis in the country’s real estate sector continues to be a major drag, with property investments plunging and new home prices falling again in July.⁶

This torrent of weak data triggered divergent reactions in Chinese-linked markets, revealing a fundamental split in investor psychology. Hong Kong’s Hang Seng index, which is heavily traded by international investors, reacted as expected to the negative news, falling for a second consecutive session on Friday.² Global investors interpreted the weak data as a clear sign of deteriorating economic fundamentals and a direct threat to corporate profitability.

However, mainland China’s domestic stock markets, which are dominated by local retail investors, rallied on the same news. The Shanghai Composite Index rose 0.83% on Friday to cap a 1.7% weekly gain—its best in seven months.²⁷ This “bad news is good news” reaction stems from a strong belief among domestic traders that the poor economic performance will force Beijing to unleash a new wave of aggressive monetary and fiscal stimulus to support the economy.²⁷ This disconnect highlights a key tension: international capital is growing more cautious based on China’s weakening fundamentals, while domestic capital is betting on a powerful policy bailout.

D. Policy Watch

A summary of opinions from the Bank of Japan’s July policy meeting, released this week, showed that policymakers currently favour a “wait-and-see” stance. They cited high uncertainty surrounding the economic impact of U.S. tariffs as a key reason to hold off on any immediate policy changes.²⁹ However, recent data showing cooling producer price inflation complicates their path toward eventual policy normalisation, as it reduces the urgency to hike rates.³⁰

Data sourced from.² Note: Weekly percentage changes may vary slightly between sources; representative figures are used.

India: A Fragile Rebound Amid Tariff Storms

A. Snapping the Losing Streak

After a prolonged period of selling pressure, Indian stock markets managed to find some footing. The benchmark BSE Sensex and Nifty 50 indices snapped a punishing six-week losing streak, both ending the week with gains of approximately 1%.³² With local markets closed on Friday, August 15, in observance of India’s Independence Day, the trading week concluded on Thursday.³⁴ The Sensex closed the week at 80,597.66, while the Nifty 50 finished at 24,631.30.³³

Despite the weekly gain, the underlying sentiment in the market remains deeply bearish. The rebound was seen by many as tentative, with one analyst noting that the market had recently closed at a three-month low amid a climate of “growing concerns” over the economic outlook.³⁶

B. Tariffs and Foreign Investor Exodus

The dominant narrative for the Indian market remains the severe economic headwinds created by U.S. trade tariffs and the resulting flight of international capital. Foreign Institutional Investors (FIIs) have been aggressive sellers, pulling nearly ₹16,000 crore (approximately $1.8 billion) from Indian equities in August so far, compounding the heavy outflows seen in July.³⁷ This has fostered a clear “risk-off” environment, pushing foreign managers to their most pessimistic stance on Indian stocks in two years.³⁷

This bearishness is starkly visible in the derivatives market, where the FII long-short ratio—a measure of bullish versus bearish bets—has collapsed to its lowest level in recent times, with nearly ten short positions for every one long position.³⁷ The persistent weakening of the Indian rupee, which fell for a fifth consecutive week against the U.S. dollar, has further soured sentiment by eroding the returns for overseas investors.³⁷

However, beneath this headline exodus, a more nuanced, “two-speed” foreign investment dynamic appears to be at play. While large, macro-focused foreign funds are selling the Indian market broadly due to concerns over tariffs and currency weakness, a different class of “smart money” investors is simultaneously increasing its exposure to specific, high-performing small-cap stocks.³⁸ Analysis shows that FIIs have been “quietly loading up” on several of the year’s best-performing smaller companies, in some cases doubling or tripling their stakes.³⁸ This suggests that while India as a top-down macro investment is currently out of favour, its potential for generating alpha through bottom-up stock selection remains highly attractive to specialised foreign funds willing to look past the broader headwinds.

C. RBI on Hold, Adopting a Cautious Stance

Earlier in August, the Reserve Bank of India’s (RBI) Monetary Policy Committee met and voted to keep its key policy repo rate unchanged at 5.5%.³⁹ This decision reflects a prudent “wait-and-watch” approach from the central bank. Although domestic inflation has been trending lower, the RBI remains highly cautious about the significant risks posed by global trade tensions and potential supply chain disruptions, which could rapidly alter India’s inflation and growth outlook.⁴⁰ The central bank has signalled it needs more time to assess the impact of its previous rate cuts before considering further moves.⁴⁰

Oceania: Riding the Rate Cut Wave to New Highs

A. A Record-Breaking Week for Australian Equities

It was a stellar week for Australian equities, with the benchmark S&P/ASX 200 index charging to new heights. The index set multiple all-time records throughout the week, culminating in a record-high close on Friday at 8,938.60.⁴² For the week, the ASX 200 gained between 1.2% and 1.5%, marking its seventh record close in the past eight weeks and underscoring a powerful bullish trend.⁴³

B. The RBA’s Stimulus Fuels the Rally

The primary engine behind this impressive rally was the Reserve Bank of Australia (RBA). At its August meeting, the RBA board decided to cut its official cash rate by another 0.25 percentage points, bringing it down to 3.60%.⁴ This marked the central bank’s third rate cut of the year, and its accompanying statement clearly signalled that further monetary easing may be necessary to support the economy.⁴ This decisively dovish pivot has provided a significant boost to investor confidence and consumer sentiment, fueling demand for equities.⁴²

However, this stimulus-driven euphoria masks a worrying disconnect between the buoyant market and the country’s deteriorating long-term economic fundamentals. In the very same week that it cut rates, the RBA also released its quarterly Statement on Monetary Policy, which included a sharp and abrupt downgrade to its medium-term forecast for productivity growth.⁴⁵ Productivity is a critical driver of long-term economic prosperity, wage growth, and sustainable corporate earnings. The RBA’s grim outlook suggests the underlying health of the Australian economy is weakening. This implies that the current stock market boom is largely a “sugar high” induced by cheap money, rather than a reflection of strong fundamentals. This creates a significant vulnerability for the market; if the monetary stimulus fails to translate into genuine economic improvement, or if an unexpected inflationary shock forces the RBA to reverse its course, the foundation of the current rally could prove to be remarkably fragile.

C. Sector Strength: Banks and Miners Lead the Charge

The market’s advance was led by the sectors most sensitive to the RBA’s policy actions. Rate-sensitive banking stocks, including Australia’s “big four” lenders, climbed as investors anticipated that lower borrowing costs would support the housing market and stimulate credit growth.⁴² At the same time, Australia’s resource-heavy mining and energy sectors also posted strong gains, benefiting from a modest uptick in global commodity prices and contributing significantly to the index’s record run.⁴² A string of solid corporate earnings reports from local companies further bolstered the positive sentiment.⁴²

Conclusion: A Global Market at a Crossroads

The week ending August 15, 2025, left global markets at a critical crossroads, defined by a deep-seated tension between hope and anxiety. Investor sentiment was buoyed by positive, forward-looking narratives: the prospect of a diplomatic breakthrough in Ukraine, the continued support of central banks in Europe and Australia, and a resilient corporate earnings season in the U.S. This optimism was powerful enough to push several major indices to all-time highs and demonstrated a clear willingness among investors to look past negative data points.

Yet, beneath the surface, signs of fragility and significant macroeconomic risks persist. The shocking surge in U.S. producer prices, the unambiguous slowdown in China’s economy, and the deep divisions within the Bank of England all serve as potent reminders of the challenges ahead. The prevailing mood of the market can best be described as one of cautious optimism. Traders have shown a clear preference for buying dips and focusing on positive catalysts, but the narrowness of the U.S. rally and the disconnect between market performance and economic fundamentals in Australia suggest this optimism could be easily shaken. The week closes with global markets highly leveraged to the outcomes of geopolitical negotiations, the next round of inflation data, and the increasingly divergent paths of the world’s central banks.

Disclaimer

This report is intended for informational purposes only and should not be construed as financial, investment, legal, or tax advice. The information contained herein has been compiled from sources believed to be reliable, but its accuracy and completeness are not guaranteed. The views and opinions expressed in this article are subject to change without notice. Investing in financial markets involves risk, including the possible loss of principal. Past performance is not indicative of future results. Readers are strongly encouraged to conduct their own research and consult with a qualified professional financial advisor before making any investment decisions.

References

1. Market Reports from UK, US & EU Stock Markets – Fidelity International, accessed on August 16, 2025, https://www.fidelity.co.uk/shares/stock-market-news/market-reports/
2. Market watch: Asian stocks mixed; oil slips ahead of Trump-Putin talks on Ukraine, accessed on August 16, 2025, https://timesofindia.indiatimes.com/business/international-business/market-watch-asian-stocks-mixed-oil-slips-ahead-of-trump-putin-talks-on-ukraine/articleshow/123317438.cms
3. Monetary Policy Report – August 2025 | Bank of England, accessed on August 16, 2025, https://www.bankofengland.co.uk/monetary-policy-report/2025/august-2025
4. www.rba.gov.au, accessed on August 16, 2025, https://www.rba.gov.au/publications/smp/2025/aug/#:~:text=At%20its%20August%20meeting%2C%20the,ready%20to%20respond%20if%20needed.
5. Weekly Trader’s Stock Market Outlook | Charles Schwab, accessed on August 16, 2025, https://www.schwab.com/learn/story/weekly-traders-outlook
6. China’s economy lags in July under pressure from tariffs and a weak property market, accessed on August 16, 2025, https://apnews.com/article/china-economy-property-trump-tariffs-65f886fe432f007e02871bf484b28656
7. Inflation or jobs: Federal Reserve officials are divided over competing concerns, accessed on August 16, 2025, https://apnews.com/article/inflation-trump-federal-reserve-10b69ac47322e412d667f3d44ccd62b7
8. Market Quick Take – 15 August 2025 – Saxo Bank, accessed on August 16, 2025, https://www.home.saxo/content/articles/macro/market-quick-take—15-august-2025-15082025
9. Markets News, Aug. 15, 2025: Dow Touches All-Time High, While …, accessed on August 16, 2025, https://www.investopedia.com/dow-jones-today-08152025-11791664
10. How major US stock indexes fared Friday, 8/15/2025, accessed on August 16, 2025, https://apnews.com/article/wall-street-stocks-dow-nasdaq-682ac264c949782fd2413c2b3d8691f0
11. S&P 500 Rises 0.94% This Week to 6449.80 — Data Talk | Morningstar, accessed on August 16, 2025, https://www.morningstar.com/news/dow-jones/202508156385/sp-500-rises-094-this-week-to-644980-data-talk
12. Consumer Price Index Summary – 2025 M07 Results – U.S. Bureau of Labor Statistics, accessed on August 16, 2025, https://www.bls.gov/news.release/cpi.nr0.htm
13. Global markets weekly update – T. Rowe Price, accessed on August 16, 2025, https://www.troweprice.com/personal-investing/resources/insights/global-markets-weekly-update.html
14. US markets today: Dow up 141 points as Wall Street eyes record week finish, UnitedHealth jumps on Buffett stake, accessed on August 16, 2025, https://timesofindia.indiatimes.com/business/international-business/us-stock-market-today-wall-street-nasdaq-dow-jones-sp-500-unitedhealth-buffett-stake/articleshow/123323329.cms
15. Euro STOXX 600 posts strongest weekly gain in 12 weeks – EFG …, accessed on August 16, 2025, https://www.efgha.com/news/2025/euro-stoxx-600-posts-strongest-weekly-gain-in-12-weeks.html
16. Germany Stock Market Index (DE40) – Quote – Chart – Historical Data – Trading Economics, accessed on August 16, 2025, https://tradingeconomics.com/germany/stock-market
17. Bank Rate reduced to 4% – August 2025, accessed on August 16, 2025, https://www.bankofengland.co.uk/monetary-policy-summary-and-minutes/2025/august-2025
18. DAX Up Nearly 0.5%, Hits 5-week High – Nasdaq, accessed on August 16, 2025, https://www.nasdaq.com/articles/dax-nearly-05-hits-5-week-high
19. Bank of England interest rate decision August 2025 – Technical Analysis: GBPUSD awaits the BoE meeting! – CFI Trading, accessed on August 16, 2025, https://cfi.trade/en/lb/blog/forex/bank-of-england-interest-rate-decision-august-2025-technical-analysis-gbpusd-awaits-the-boe-meeting
20. When is the next ECB interest rate decision? – Equals Money, accessed on August 16, 2025, https://equalsmoney.com/economic-calendar/events/ecb-interest-rate-decision
21. Schedules for the meetings of the Governing Council and General Council of the ECB and related press conferences, accessed on August 16, 2025, https://www.ecb.europa.eu/press/calendars/mgcgc/html/index.en.html
22. GDP and employment both up by 0.1% in the euro area – European Commission, accessed on August 16, 2025, https://ec.europa.eu/eurostat/web/products-euro-indicators/w/2-14082025-ap
23. U.S. Futures, European Stocks Rise | Morningstar, accessed on August 16, 2025, https://www.morningstar.com/news/dow-jones/202508151065/us-futures-european-stocks-rise
24. FTSE 100 Index, FTSE:FSI Summary – FT.com – Markets data – Financial Times, accessed on August 16, 2025, https://markets.ft.com/data/indices/tearsheet/summary?s=ftse:fsi
25. Week in Review: August 15, 2025 – Morningstar, accessed on August 16, 2025, https://global.morningstar.com/en-ea/markets/week-review-august-15-2025
26. Japan`s Nikkei ends at record high as yen weakens, economy shows resilience, accessed on August 16, 2025, https://www.indopremier.com/ipotnews/newsDetail.php?jdl=Japan_s_Nikkei_ends_at_record_high_as_yen_weakens__economy_shows_resilience&news_id=203268&group_news=IPOTNEWS&taging_subtype=Indeks%20Nikkei&name=&search=y_general&q=japan%20shares,%20nikkei%20225,%20topix,&halaman=1
27. China stocks eye biggest weekly gain in 7 months as risk appetite …, accessed on August 16, 2025, https://www.indopremier.com/ipotnews/newsDetail.php?jdl=China_stocks_eye_biggest_weekly_gain_in_7_months_as_risk_appetite_defies_weak_data&news_id=203262&group_news=IPOTNEWS&taging_subtype=Indeks%20SHC%20Shanghai&name=&search=y_general&q=China%20shares,%20shanghai%20composite,%20CSI300,&halaman=1
28. Shanghai Composite Index Rises 1.70% This Week to 3696.77 — Data Talk | Morningstar, accessed on August 16, 2025, https://www.morningstar.com/news/dow-jones/202508152346/shanghai-composite-index-rises-170-this-week-to-369677-data-talk
29. BOJ Needs to Keep Wait-and-See Stance: Meeting Summary | Nippon.com, accessed on August 16, 2025, https://www.nippon.com/en/news/yjj2025080800404/
30. Japan’s Cooling Producer Price Inflation: A Precursor to Monetary Policy Shifts and Equity Opportunities – The Perfect Cup, accessed on August 16, 2025, http://theperfectcupdalton.com/all-about/traffic-travel
31. China Shanghai Composite Stock Market Index – Quote – Chart – Historical Data – News, accessed on August 16, 2025, https://tradingeconomics.com/china/stock-market
32. Indian stock market: Sensex, Nifty snap 6-week losing streak; is this the start of a recovery or just a dead-cat bounce? – Mint, accessed on August 16, 2025, https://www.livemint.com/market/stock-market-news/indian-stock-market-sensex-nifty-snap-6-week-losing-streak-is-this-the-start-of-a-recovery-or-just-a-dead-cat-bounce-11755241233900.html
33. Stock Market Highlights: Sensex settles marginally higher after …, accessed on August 16, 2025, https://m.economictimes.com/markets/stocks/live-blog/bse-sensex-today-live-nifty-stock-market-updates-14-august-2025/liveblog/123293101.cms
34. Stock market holiday on Friday: Are Nifty50, BSE Sensex open or closed for trading on August 15? Check holiday list – Times of India, accessed on August 16, 2025, https://timesofindia.indiatimes.com/business/india-business/stock-market-holiday-on-friday-are-nifty50-bse-sensex-open-or-closed-for-trading-on-august-15-check-holiday-list/articleshow/123276604.cms
35. Stock market holiday: Are NSE, BSE closed on August 15 for Independence Day?, accessed on August 16, 2025, https://economictimes.indiatimes.com/markets/stocks/news/stock-market-holiday-are-nse-bse-closed-on-august-15-for-independence-day/articleshow/123301136.cms
36. Ahead of Market: 10 things that will decide D-Street action on Monday, accessed on August 16, 2025, https://economictimes.indiatimes.com/markets/stocks/news/ahead-of-market-10-things-that-will-decide-d-street-action-on-monday/articleshow/123217689.cms
37. FPIs most bearish on D-Street in 2 years as US tariffs, weak rupee darken outlook, accessed on August 16, 2025, https://economictimes.indiatimes.com/markets/stocks/news/foreign-investors-turn-bearish-on-indian-stocks-amid-weakening-rupee-and-tariffs/articleshow/123225751.cms
38. 7 multibagger stocks that FIIs are hoarding in 2025. Are you missing out?, accessed on August 16, 2025, https://economictimes.indiatimes.com/markets/stocks/news/7-multibagger-stocks-that-fiis-are-hoarding-in-2025-are-you-missing-out/articleshow/123227832.cms
39. MPC meeting highlights: Continue to do whatever required to support economic growth, says RBI Governor – The Hindu, accessed on August 16, 2025, https://www.thehindu.com/business/Economy/rbi-monetary-policy-committee-meeting-live-august-5-2025/article69899982.ece
40. RBI’s job gets tougher, thanks to 50% US tariffs – India Today, accessed on August 16, 2025, https://www.indiatoday.in/business/personal-finance/story/rbi-repo-rate-august-2025-inflation-us-tariffs-global-risk-upcoming-mpc-2770007-2025-08-12
41. ‘A tad difficult’: RBI not likely to cut rates in October, says SBI; bond yields also expected to remain elevated, accessed on August 16, 2025, https://timesofindia.indiatimes.com/business/india-business/a-tad-difficult-rbi-not-likely-to-cut-rates-in-october-says-sbi-bond-yields-also-expected-to-remain-elevated/articleshow/123279050.cms
42. Australian shares end stellar week at record high on earnings, rate-cut boost, accessed on August 16, 2025, https://m.economictimes.com/markets/stocks/news/australian-shares-end-stellar-week-at-record-high-on-earnings-rate-cut-boost/articleshow/123319145.cms
43. Evening Wrap: ASX 200 smashes out another record on surging …, accessed on August 16, 2025, https://www.marketindex.com.au/news/evening-wrap-asx-200-smashes-out-another-record-on-surging-mining-energy-and
44. Weekly market update – 15-08-2025 – AMP, accessed on August 16, 2025, https://www.amp.com.au/resources/insights-hub/weekly-market-update-15-08-2025
45. Australia’s central bank cuts rates marginally, warning again of world “uncertainty” – WSWS, accessed on August 16, 2025, https://www.wsws.org/en/articles/2025/08/13/yszj-a13.html
46. ASX 200 achieves record high with earnings boost amid global economic influences | IG AU, accessed on August 16, 2025, https://www.ig.com/au/news-and-trade-ideas/Ahead-of-the-game-18-August-2025-250815