- Kansas City Fed President Schmid speaks on economic outlook, monetary policy on Monday
- Reserve Bank of New Zealand NZIER Shadow Board calls for 25bp interest rate cut
- Bankers warn Bitcoin treasuries boom risks creating leveraged crypto time bomb
- China secretly pays Iran for oil through hidden $8 billion funding conduit
- Goldman Sachs’ domestic-versus-international revenue tracker to lowest level since 2010
- European Central Bank President Lagarde speaking Monday. De Guindos, Lane also
- Bank of England Governor Andrew Bailey speaks on Monday
- Australia Melbourne Institute Inflation September: +0.4% m/m (prior –0.3%)
- New Zealand ANZ Commodity Price Index September: -1.1% m/m (prior +0.7%)
- ICYMI - JPY has been slammed lower after the weekend Japanese election
- Trump "asking Fannie Mae and Freddie Mac to get Big Homebuilders going"
- Apple downgrade cites inflated iPhone & 18 Fold hopes. Jefferies: Apple to Underperform.
- Takaichi victory cools BOJ hike odds, rate path stays cautious
- Japan - the yen has gapped lower, while the Nikkei has a huge gap higher
- OIl prices have jumped on the smaller than expected OPEC output hike
- Stan Chart sees Bitcoin hitting $200K this year: ETF inflows surge, US fiscal risks mount
- Trump's $1000 to $2000 stimulus checks for Americans lifted Bitcoin
- USD/JPY gap higher open on the back of Japanese politics, circa 149.35
- Goldman CEO sees complacency risk amid AI rally - warns a broad equity pullback on the way
- Weekend news: China offers huge US investment plan to ease Trump-era security restrictions
- AUD, ASX, Aussie bond traders - it's a (sort of) holiday in Australia today
- Monday open levels, indicative FX prices, 06 October 2025: Yen lower after Takaichi win
- OPEC+ to raise output by 137k bpd
- Newsquawk Week Ahead: FOMC and ECB mins, RBNZ, Canada jobs, OPEC+, Japan LDP election
- Japan's Takaichi says to carefully consider if current govt-BOJ accord is most appropriate
- Sanae Takaichi wins runoff vote in LDP leadership race
USD/JPY gapped higher at the open, trading around 149.35, as markets reacted to Sanae Takaichi’s weekend victory in Japan’s LDP leadership election. The yen was the big mover in early Asia, tumbling by the most in five months as investors priced in expectations that Takaichi’s win will bring expansionary fiscal policy and delay further Bank of Japan rate hikes. The yen sank 1.6% to near 149.90 per dollar, its sharpest one-day fall since May 12. Against the euro, it slid 1.5% to above 175.80, the weakest level since the creation of the euro, while other yen crosses also gained strongly.
Market pricing for a BOJ rate hike at the 30 October meeting eased, reflecting expectations of a more patient policy stance.
Japanese equities soared, with the Nikkei 225 jumping more than 4% to a record high.
Elsewhere, commodities rallied. Gold surged past $3,920/oz to a new record high, while Bitcoin also hit a fresh all-time high. AUD/USD and NZD/USD traded bid, supported by the region’s risk-on tone.
Oil opened higher after OPEC+ agreed to raise production modestly next month, calming fears of a large supply increase. Weekend analysis suggested the output hike would be less than half the size initially discussed.
Asia-Pac stocks:
Japan (Nikkei 225) +4.5%
Hong Kong (Hang Seng) -0.85%
Shanghai Composite Closed for Golden Week holidays
Australia (S&P/ASX 200) -0.12%
