The ASX is tipped to open higher ahead of all-important inflation data due out 11:30am AEST, which will be key to the interest rates trajectory.Globally, chipmaker stocks have been dumped, but the Dow and S&P rose on Wall Street. Follow the day's financial news and insights from our specialist business reporters on our live blog.Disclaimer: this blog is not intended as investment advice.PinnedWed 29 Jul 2026 at 8:25amWed 29 Jul 2026 at 8:25amMarket snapshotBy Michael JandaASX 200 futures: +0.8% to 8,980 pointsAustralian dollar: Flat at 69.71 US centsS&P 500: +0.2% to 7,429 pointsNasdaq: -0.2% to 24,877 pointsFTSE: +0.8% to 10,871 pointsEuroStoxx: +0.4% to 647 pointsSpot gold: -0.2% to $US4,020/ounceBrent crude: -3.8% to $US85.05/barrelIron ore: +0.1% to $US98.20/tonneBitcoin: +0.1% to $US63,908Prices current around 8:20am AEST.Live updates on the major ASX indices:Collapse all postsFilter PostsAll7Key Events1Market snapshot1Company news1Wed 29 Jul 2026 at 9:20amWed 29 Jul 2026 at 9:20amAustralian dollar up near 115 yenBy Emilia TerzonPlanning a trip to Japan soon? You'll be feeling pretty pleased with yourself as the Australian currency touches what looks like record highs against the Yen, up near 115 Yen right now.It's not great for the Japan economy, however. The nation of islands is battling huge levels of debt, import-driven inflation and its currency is also plunging against the USD.Here's an update from CBA's currency team:Concerns about Japan’s fiscal sustainability are likely to persist, keeping upward pressure on longer term Japanese government bond (JGB) yields and AUD/JPY. The 30 year JGB yield rose 2bp to near 3.99%, slightly below the record high of 4.14% reached in mid‑May.Wed 29 Jul 2026 at 9:04amWed 29 Jul 2026 at 9:04amKPMG says its handling of whistleblower complaint 'unacceptable'By Stephanie ChalmersIn case you missed it yesterday, business reporter Nassim Khadem reported embattled accounting firm KPMG will face further questions before parliament.It follows former chief operating officer Eileen Hoggett, who was stood down last month, being sacked by the firm on Friday after new chief executive, John Sams, briefed staff about an uncovered email, in which Ms Hoggett referred to keeping and sharing a printout of the confidential client papers in her locker.The papers were used by Ms Hoggett and other partners to help KPMG win work, and confirm the serious allegation made by a whistleblower that this was happening, but whose complaint was dismissed by KPMG at the time.Ms Hoggett has been contacted for comment."Earlier this month KPMG CEO John Sams told partners that the conduct was totally unacceptable and it was unacceptable that it took so long for the truth to come out," a KPMG spokesperson said.You can catch up on the full story:Wed 29 Jul 2026 at 8:55amWed 29 Jul 2026 at 8:55amBanks failing to pay offset accounts interestBy Emilia TerzonThis story should have you checking your offset account.... if you can understand it and how the interest is calculated.As my colleague Lin Lin reports, the corporate regulator says some banks are not delivering the savings as promised.ASIC found Australian banks paid more than $55 million in compensation in just two years, for failures with mortgage offset accounts.The regulator said several banks had begun remediation and it would monitor their fixes, provide individual feedback and consider further regulatory action.Wed 29 Jul 2026 at 8:42amWed 29 Jul 2026 at 8:42amFast fashion giant Shein under investigationBy Emilia TerzonOnline fast fashion giant Shein is under investigation by the US Federal Trade Commission.The Chinese-founded company could face significant fines as a result, according to documents filed in connection with its planned Hong Kong IPO.Shein say it is cooperating with the probe. But it hasn't said why exactly it is under investigation.More of what the company has said here:"The outcome of the investigation, whether in settlement or otherwise, may require us to make significant monetary payments that could have a material adverse effect on our financial condition and results of operations."An FTC spokesperson confirmed on Tuesday the agency is conducting a consumer protection investigation into Shein. The FTC enforces US laws against unfair and deceptive business practices.Reporting with Reuters.Wed 29 Jul 2026 at 8:21amWed 29 Jul 2026 at 8:21amAussie dollar settles under US 70 cents ahead of CPI releaseBy Emilia TerzonThe local currency dropped against the greenback yesterday as the RBA's governor gave a public appearance and comments to journalists about interest rate settings.It's currently sitting at 69.73 US cents.Here's a morning note from CBA:Pricing for an August interest rate hike by the Reserve Bank of Australia (RBA) has dropped from around 30% to 20% after Governor Bullock delivered a balanced assessment that stopped short of clearly signalling an August rate hike yesterday. However, today's Australian Q2 26 CPI can alter RBA pricing again (11:30am Sydney time). Our Australian economics team expect the policy‑relevant quarterly trimmed mean CPI to have risen by 0.9%/qtr in Q2 26, with its annual rate edging higher to 3.7%. The risks are skewed to a stronger than expected trimmed mean CPI, giving a modest boost to AUD/USD.Key EventWed 29 Jul 2026 at 8:18amWed 29 Jul 2026 at 8:18amLack of explosions drives oil down, stocks up, but tech still on the noseBy Michael JandaThe continued pause in active hostilities between Iran and the US in and around the Strait of Hormuz had markets continuing to hope for the best overnight.Brent crude was down close to 4% to about $US85 a barrel, while the major US share indices generally gained, especially the blue chip Dow, which was up 1%."US-Iran negotiations — if they exist — remain shrouded in the fog of war. However, with a continued pause in trade of explosives, crude oil has retreated," writes Ken Crompton, NAB's head of rates strategy.The Nasdaq didn't fare as well, as nervousness persists about the rapid rise of Chinese AI and the potential for it to render some of the West's massive investments uncompetitive."The risk positive moves overnight followed a particularly turbid session for tech-heavy Asian bourses yesterday — the Nikkei down nearly 4% and the KOSPI down 11%," Crompton notes."Tech stocks were again roiled by renewed fears of the circularity of vendor-customer investment, advances in China's local chipmaking capabilities and models, as well as the overall achievability of capex programs."The Nasdaq finished down 0.2%, with Intel down nearly 6%, as investors also nervously await the latest financial results from some big US tech names.Stay with us for the latest on the local share market when it opens at 10am AEST and also the key June quarter inflation data out at 11:30am, which will probably determine whether interest rates rise a fourth time this year the next time the RBA meets in just under a fortnight.