- ANZ expects only one more RBNZ rate cut, in November, after front-loaded easing
- US BLS recalls staff to finish CPI report, prioritising Social Security and Fed timelines
- Saudi crude exports to China seen falling as refiners chase cheaper Middle East oil
- ANZ sees oil steady near $60–65 through mid-2026, potential recovery to $70 by year-end
- Japan fin min Kato says recently seeing one-sided rapid moves (referring to the yen)
- US Tsunami Warning System: Tsunami threat after 7.4 earthquake strikes Philippines
- Fed's Daly says inflation has come in much lower than feared
- Akazawa - Lutnick call more detail: the pair spoke for an hour
- PBOC sets USD/ CNY reference rate for today at 7.1048 (vs. estimate at 7.1329)
- Japan's Akazawa says (again!) that US Japan trade deal implementing smoothly
- Shut down continues. US Senate to pack up for a long weekend - not back until Tuesday.
- AI growth still strong, valuations remain reasonable: boom underpinned by capex, not hype
- China’s sweeping export rules threaten US AI and chip supply chains
- Japan PPI (September 2025) +2.7% y/y (expected +2.5%)
- Citigroup expects softer US CPI, disinflation trend intact. Weaker labour, housing markets
- Bessent says he expects a rebalancing 'soon', where India buys less Russian oil
- Escalation - Trump to deploy US boots on the ground in Middle East, but not in Gaza
- ICYMI: NY Fed’s Williams backs further rate cuts to shore up labour market
- Reserve Bank of Australia Governor Bullock says services inflation remains a little sticky
- ICYMI - JP Morgan’s Dimon warns of looming US stock-market correction
- New Zealand September Manufacturing PMI 49.9 (prior 49.9)
- Big news - US plans to release the September CPI report data despite government shut down
- Japan - Takaichi’s stimulus vow revives debate over Bank of Japan independence
- Trump proposes to ban Chinese airlines from overflying Russia on all US flights
- A down day for the US stocks as equity markets take a breather
Financial markets in Asia traded quietly to close out the local week amid a light regional news flow. Japan’s September Producer Price Index, also known as the Corporate Goods Price Index, came in hotter than expected, though the yen reaction was muted.
Later in the session, Finance Minister Shunichi Kato delivered another round of verbal FX intervention, warning against “one-sided, rapid moves” in the currency and emphasising that exchange rates should reflect fundamentals. Tokyo’s familiar playbook, talking down volatility to deter speculation, helped the yen firm slightly.
Overnight US developments were more noteworthy. The Bureau of Labor Statistics confirmed plans to publish the September Consumer Price Index despite the government shutdown. Former BLS Commissioner Erica Groshen said data collection was completed before the shutdown began on October 1, allowing limited staff to return from furlough to finish processing the report. The CPI is unlikely to be released by the original October 15 date, but officials aim to publish it before the Federal Reserve’s October 28–29 meeting, ensuring policymakers have a key inflation reading in hand.
Meanwhile, the US Senate will be out until Tuesday evening, locking in at least four more days of shutdown unless lawmakers are recalled early.
Asia-Pac stocks:
- Japan (Nikkei 225) -1%
- Hong Kong (Hang Seng) -1%
- Shanghai Composite -0.5%
- Australia (S&P/ASX 200) -0.1%
