State Street Global Markets Asia-Pacific macro strategist Dwyfor Evans said July Australian CPI came in stronger than expected and could prompt markets to focus further on the Reserve Bank of Australia's recent minutes noting inflation risks remain elevated. He added July CPI was 3.5% YoY, and debate over policy tightening will remain the market focus and, in a relative-rate backdrop, should support the AUD.

Politico reported Republican Senator James Lankford told President Zelenskiy in Kyiv he could not guarantee Congress would soon approve a new round of sanctions on Russia; Zelenskiy urged expedited consideration. Lankford said he is skeptical a Moscow-Kyiv deal is likely but called CIA Director John Ratcliffe’s recent secret visit to Russia potentially productive. The Senate earlier passed a bill drafted with the late Sen. Lindsey Graham that would impose 100% tariffs on the five largest buyers of Russian energy and 500% tariffs on all Russian goods exported to the US; the measure has been sent to the House, which is in recess until Aug. 31 and is not expected to consider it before September.

Beijing time Aug 26 20:00 — White House administrative duties; 21:00 — live interview on Glenn Beck; 23:00 — intelligence briefing, Oval Office; Beijing time Aug 27 02:00 — signing ceremony, Oval Office; 03:00 — policy meeting, Oval Office; 04:00 — media interview, Oval Office.