US-China Tik-Tok debate pursues, Arab leaders meet and Equities keep on flying – Market wrap for the North American session - September 15

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Log in to today's North American session Market wrap for September 15

Following the positive post-CPI move, today’s session saw ecstatic flows around consistently higher equities.

Despite trade tensions still in the air, the latest talks between the US and China centered around Chinese firms (like TikTok and their rights) recently happened, with the Chinese top trade envoy Chenggang reaffirming their positions.

Nvidia was also hit by Antitrust fines in China, which preceded a pullback in the stock, which consequently rallied back, lifted by positive sentiment.

In fact, it really was a commodity day in Markets: Coffee and Orange Juice finished their session above 5%, while commodity energies also saw a decent rebound amid continued Eastern Europe tensions. 

Overall, a downward move in the USD was welcomed by most assets except for cryptos which largely retracted after a very decent week-end session.

In geopolitics, Arab nations are planning a meeting about the Israeli attacks on Hamas leaders in Qatar, which will prompt some interesting developments. Unfortunately, we are still too far from peace in that region.

Read More:

• US indices surge with Nasdaq and S&P 500 leading before the FOMC
• The US Dollar falls which takes the EUR to August highs – EURUSD and DXY outlooks
• Guide to the FOMC statement and September SEP: Key takeaways and what to watch

Cross-Assets Daily Performance

Cross-Asset Daily Performance, September 15, 2025 – Source: TradingView

Asset performance was pretty volatile in this weekly open, with a particular appetite for commodities as detailed in the introduction. Between continued trade discussions, Eastern Europe tensions, a weaker dollar and pre-FOMC dynamics, commodities enjoyed their session.

It will be interesting to watch how they do after Wednesday's rate decision – Rate cuts are typically good for commodities ceteris paribus but overall, it depends on economic activity and how hawkish/dovish a cut is.

Cryptos are the losers of today's session taking a decent hit in the face after consecutive strong sessions.

A picture of today's performance for major currencies

Currency Performance, September 15 – Source: OANDA Labs

Forex markets markets saw decent movement today, all centered about the flash selloff in the US Dollar (the extent isn’t too big but the form is consistent).

The Canadian and Australian Dollar enjoyed it the most with the CAD finally seeing some relief after a very tough past two weeks and AUD reaching new yearly highs against the greenback on the session.

Tomorrow should see even more action with consequent data releases for many currencies. Check them out just below!

A look at Economic data releasing in Monday's session

For all market-moving economic releases and events, see the MarketPulse Economic Calendar.

The Asia-Pacific session kicks off with Japan’s August trade balance figures at 19:50 ET. Markets will parse both the adjusted and headline balances, alongside exports and imports (YoY), to gauge external demand and the impact of yen weakness on trade dynamics.

Shifting to Europe, Germany’s ZEW survey at 05:00 ET will shed light on both the current situation and economic sentiment.\

The North American session is packed.

Canada leads with a full set of August CPI readings at 08:30 ET. They will be key to watch ahead of the Wednesday Bank of Canada rate decision!

At the same time, the U.S. reports August retail sales (headline, ex-autos, and control group) expected at 0.3%.

Finally, New Zealand will publish its Q3 Westpac Consumer Survey at 17:00 ET, offering insight into household confidence and spending intentions, which could influence the RBNZ’s policy stance.

With Canadian CPI and U.S. retail sales on deck, alongside a heavy flow of sentiment and production data, Wednesday promises significant movement ahead of Wednesday's FOMC and BoC action.

Safe Trades and enjoy your weekend!

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