π° Hourly Briefing | 2026-08-17 20:00 CST
Trump confirms secret communication channel with Iran's IRGC, threatens to bomb Oman; Li Qiang chairs State Council plenary meeting, emphasizes completing annual economic targets; Morgan Stanley expects G10 FX low volatility to persist into early September.
π Market Snapshot
| Asset | Latest | Change |
|---|---|---|
| Gold XAUUSD | 4397.43 | -0.50% |
| WTI Oil USOIL | 81.571 | -0.06% |
Gold pulled back slightly, hitting an intraday high of 4416 before retreating to around 4397, remaining in a high-level range. Oil nearly flat, hovering around 81.5 with narrow trading.
π₯ Key News This Hour
1. Trump Confirms Secret Communication Channel with Iran’s IRGC
According to Fox News, Trump confirmed the existence of a secret communication channel with IRGC officials, stating he is “in no hurry” to resolve the Iran issue and demanding Iran “raise the white flag.” He also threatened to bomb Oman if it obstructs the United States.
2. Trump Says Israel Should Not Attack Gaza
Trump stated in an interview that Israel should not attack Gaza and indicated he might support a specific candidate in Israeli elections. This marks a subtle shift from his previously staunch pro-Israel stance.
3. Li Qiang Chairs 12th State Council Plenary Meeting
Premier Li Qiang emphasized efforts to complete annual economic and social development targets, calling for greater support for emerging pillar industries and future industries, accelerating the “Six Networks” implementation plan, and actively stabilizing external demand.
4. Morgan Stanley: G10 FX Low Volatility to Persist into Early September
Morgan Stanley analysts noted that data between now and the September Fed meeting should align with expectations for the Fed to hold rates unchanged this year, with G10 FX low volatility likely persisting through late August and early September.
5. L3Harris CEO Departs Amid Conduct Review
Christopher Kubasik, CEO of US defense and aerospace company L3Harris, has departed following a conduct review. Shares fell 3% in pre-market trading.
6. BofA Raises Newmont Price Target
Bank of America Global Research raised Newmont Mining (NEM) price target from $135 to $145. Raymond James raised Reddit (RDDT) price target from $200 to $205.
7. Japan Q2 GDP Misses Expectations; German Bank Bullish on Yen
Japan’s Q2 real GDP came in at +0.3% QoQ (vs. +0.5% expected) and +1.1% annualized (vs. +2% expected). Commerzbank noted that Japan’s improving economic fundamentals suggest modest yen strengthening ahead.
π§ Market Assessment
Trump’s “no hurry” stance on Iran combined with the public disclosure of a secret communication channel suggests the US may be seeking a diplomatic path, though the bombing threat against Oman adds geopolitical uncertainty.
Gold trading around 4400 reflects an ongoing tug-of-war between geopolitical risks and Fed rate cut expectations.
China’s July economic data missed across the board (retail +0.6%, industrial output +4.5%, FAI -6.7%), and Li Qiang’s plenary meeting remarks signal accelerated policy support ahead.
Japan’s soft GDP but strong nominal growth leaves yen direction dependent on BOJ policy expectations.
β° Upcoming Key Data
- Today 20:30 β π¨π¦ Canada July CPI YoY (Expected 2.9%, Previous 2.8%)
- Today 20:30 β π¨π¦ Canada July CPI MoM (Expected +0.4%, Previous -0.4%)