Japanese markets are closed today for the Health and Sports Day public holiday. Taking Tokyo out of the FX market reduces liquidity in the Asian timezone.
In the US, Monday is the Columbus Day holiday – with some market closures (not all).
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Japan and US holidays today
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- FT: Trump is pushing for 15 – 20% minimum tariff on all EU goods. EURUSD moves lower.
- Chinese House Price Index continues to slump: April -3.5% y/y (prior -3.4%)
- PBOC sets USD/ CNY reference rate for today at 6.8435 (vs. estimate at 6.8086)
- Singapore April 2026 non-oil exports +24.5% y/y vs prior 15.30%
- PBOC is expected to set the USD/CNY reference rate at 6.8086 – Reuters estimate
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- South Korea exchange halt as KOSPI futures slammed limit lower
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