External broker reports(aggregated public sources), Mizuho

Mizuho

External broker reports(aggregated public sources)

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FX & Rates

<ul><li>In Japanese monetary policy, the Bank of Japan (BOJ) kept policy rate fixed when it met in October.</li><li>In his press conference, BOJ governor Kazuo Ueda voiced more conviction that the BOJ would hit its price stability target, though he said the BOJ would need to monitor next spring’s wage negotiations and other factors to gain a clearer picture of wage trends, with the governor continuing to adopt a cautious stance when it came to the timing of rate hikes.</li><li>The next meeting in December is some way off and investors are unlikely to start pricing in rates hikes in November, so Japanese monetary policy will support yen selling this month. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

In Japanese monetary policy, the Bank of Japan (BOJ) kept policy rate fixed when it met in October.In his press conference, BOJ governor Kazuo Ueda voiced more conviction that the BOJ would hit its price stability target, though he said the BOJ would need to monitor next spring’s wage negotiations and other factors to gain a clearer picture of wage trends, with the governor continuing to adopt a cautious stance when it came to the timing of rate hikes.The next meeting in December is some way off and investors are unlikely to start pricing in rates hikes in November, so Japanese monetary policy will support yen selling this month. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>USD/JPY continued to rise in October, driven solely by the inauguration of the Sanae Takaichi administration and the resulting rise in reflation expectations.</li><li>At the time of writing this report, no definite information regarding the Takaichi administration’s economic policies has been released, making it possible that market movements are expectations-driven.</li><li>However, it is undeniable that downward pressure on JPY remains strong. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

USD/JPY continued to rise in October, driven solely by the inauguration of the Sanae Takaichi administration and the resulting rise in reflation expectations.At the time of writing this report, no definite information regarding the Takaichi administration’s economic policies has been released, making it possible that market movements are expectations-driven.However, it is undeniable that downward pressure on JPY remains strong. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Podcast by J.P. Morgan analysts on global markets, At Any Rate

At Any Rate

Podcast by J.P. Morgan analysts on global markets

Analysts from J.P. Morgan’s Research team take a closer look at the stories behind some of the biggest trends, themes and developments in markets today.

<ul>
<li>FX and gold oil ratio have decoupled this year, leading to low volatility and focus on US data, exogenous shocks, and geopolitics in FX trading.</li>
<li>Japanese Prime Minister Takaichi delivered a speech on economic policy, focusing on fiscal measures and debt reduction, without mentioning monetary or FX policy.</li>
<li>Despite interventionist stance of Takaichi and Finance Minister Katayama, it is unlikely they will strongly intervene in BOJ policy, with expectations of a rate hike next week due to economic and market developments.</li>
</ul>
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.


FX and gold oil ratio have decoupled this year, leading to low volatility and focus on US data, exogenous shocks, and geopolitics in FX trading.
Japanese Prime Minister Takaichi delivered a speech on economic policy, focusing on fiscal measures and debt reduction, without mentioning monetary or FX policy.
Despite interventionist stance of Takaichi and Finance Minister Katayama, it is unlikely they will strongly intervene in BOJ policy, with expectations of a rate hike next week due to economic and market developments.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global FX: Japan focus, US/China, PMIs, Fed/ECB

Podcast Exploring Themes Driving Global Markets, Nomura - The Week Ahead

Nomura – The Week Ahead

Podcast Exploring Themes Driving Global Markets

Nomura - The Week Ahead

We explore the main themes that will drive global markets over the coming week, discussing the key market moving events and risks to keep on your radar.

Macroeconomics

<ul><li>Global economic activity trending downward, inflation on the rise</li><li>Focus on US-China summit, labor market data, and upcoming inflation report</li><li>Fed may consider rate cuts despite strong labor market and inflation risks</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global economic activity trending downward, inflation on the riseFocus on US-China summit, labor market data, and upcoming inflation reportFed may consider rate cuts despite strong labor market and inflation risksThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

The Week Ahead – The End of the Beginning, or the Beginning of the End?

Chief Economist, Aletheia Capital

Dr. Jim Walker

Chief Economist

Independent and original Asian investment research

Aletheia Capital

Aletheia Capital (HK) Ltd. (previously known as Asianomics) combines the extensive knowledge of its experienced team with technology and regulatory changes to disrupt Global Markets business in Asia. The firm is completely independent with no conflicts of interest either on Investment Banking advisory or Capital Markets execution.

<ul><li>US Fed kept Fed Funds Rate stable at 3.5% to 3.75%. But more interesting was the fact that three of the Fed dissenters disagreed with the easing bias. The fourth, Stephen Miran, is still looking to cut rates.</li><li>Bank of Japan also held interest rates at 75bps, but the Monetary Policy Committee is totally out of touch. The government is having to refinance its debt while interest rates increase sharply compared to a few years ago.</li><li>Our latest Peregrinations report, Indonesia: First, Second or Reverse?, was published this week. Real GDP growth has been stuck at 5% for the last decade, equating to what we would call second gear. The Iran War threatens to put it into reverse.</li></ul>

US Fed kept Fed Funds Rate stable at 3.5% to 3.75%. But more interesting was the fact that three of the Fed dissenters disagreed with the easing bias. The fourth, Stephen Miran, is still looking to cut rates.Bank of Japan also held interest rates at 75bps, but the Monetary Policy Committee is totally out of touch. The government is having to refinance its debt while interest rates increase sharply compared to a few years ago.Our latest Peregrinations report, Indonesia: First, Second or Reverse?, was published this week. Real GDP growth has been stuck at 5% for the last decade, equating to what we would call second gear. The Iran War threatens to put it into reverse.

Walker’s Weekly: Dr. Jim's Summary of Key Global Macro Developments - 1 May 2026

Japan

The Japanese yen is the official currency of Japan. 

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The next meeting in December is some way off and investors are unlikely to start pricing in rates hikes in November, so Japanese monetary policy...

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USD/JPY continued to rise in October, driven solely by the inauguration of the Sanae Takaichi administration and the resulting rise in reflation...

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The FX and gold oil ratio have decoupled, leading to low market volatility, while traders focus on US data, geopolitics, and recent developments in...

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The Week Ahead – The End of the Beginning, or the Beginning of the End?

Global economic activity remains weak with rising inflation, geopolitical focus shifts to US-China summit and local elections, Japanese yen slide...

Nomura – The Week Ahead

Walker’s Weekly: Dr. Jim's Summary of Key Global Macro Developments - 1 May 2026

US Fed kept Fed Funds Rate stable at 3.5% to 3.75%. But more interesting was the fact that three of the Fed dissenters disagreed with the easing...

Dr. Jim Walker

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