NVIDIA Corporation

NIO Inc.

In China, stock indices are hitting ten-year highs amid deflation, real estate crisis and tariff pressure from the U.S., raising fears of a bubble. In currency markets, the dollar is faltering after hints from Fed chief Jerome Powell of a possible rate cut. And oil quotes are reacting to Ukraine's attacks on Russian infrastructure. About these and other topics - in our review of key events for the morning of August 25.

Morgan Stanley

The Goldman Sachs Group, Inc.

The U.S. dollar in 2025 is noticeably losing ground against other key currencies: the Bloomberg Dollar Spot Index, which reflects the value of the dollar against a basket of ten leading world currencies, has slipped by almost 11% in the first six months. This was the <a href="https://www.bloomberg.com/news/articles/2025-08-11/dollar-faces-competition-as-trump-redefines-trade-order">worst result</a> for the first half of the year since 1973.

EU banks and emerging market equities: How can investors play the sagging dollar?

Birkenstock Holding plc

Williams Trading analyst named Birkenstock as one of five "masthead" brands for retailers

Birkenstock beat forecast due to demand for shoes without discounts. Why did the stock fall?

Stagflation risks are underestimated and the "Magnificent Seven" will not hold the market back, says Thorsten Slock

Apollo's chief economist named three stock market risks that investors should be aware of

The dollar is coming out of a prolonged downward streak - July could be its first month of gains since December

The dollar has its best July since 2019. What will happen to the exchange rate next?

SAP SE

The weakening of the dollar against the euro reduced SAP's revenue, about half of which is denominated in U.S. currency

SAP shares fall amid currency risks despite growth in cloud services revenue

Singapore dollar may eventually become Asia's "Swiss franc"

Singapore's dollar has become a safe haven currency. Can it compete with the franc and the yen?

Since mid-2023, foreign investment in the Chinese equivalent of the lowest-risk U.S. debt securities has grown more than sixfold

Chinese bonds have lost appeal to foreign investors - Bloomberg

Long-term European investors are looking for ways to protect their assets from dollar volatility, analysts say

'This risk cannot be underestimated': Morgan Stanley warns of euro rise to $1.3

The dollar will remain weak in the coming months, but the arguments for further declines have become too "one-sided," analysts said

HSBC: the dollar sell-off is turning into an anti-bubble - and it will burst

Expectations for Chinese currency appreciation against the dollar will soon return to its highest level since early 2023, says Citi

Chinese traders have lost interest in the dollar. What does this mean for the yuan exchange rate?

The ICE Dollar Index ended the first half of 2025 with its worst performance since its launch in 1973


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Top stories for the morning: risk of a bubble in Chinese stocks, rising oil prices and a weak dollar