🌏 Calm Start to the Week, Eyes on NY Fed Manufacturing Index
📌 Tokyo & London Market Moves
With Tokyo’s bond market closed for a holiday, FX trading remained subdued.
USD/JPY: Fell from 147.80 to 147.37, then stabilized around 147.40–50.
EUR/USD: Moved between 1.1716–1.1744 before settling near 1.1730.
GBP/USD: Rose from 1.3539 to 1.3599 and held firm; sterling also gained against the euro.
In early London trade, direction remained muted, with investors’ focus shifting to midweek events.
📊 Key Market Focus
This week features back-to-back policy announcements from the Fed (FOMC), Bank of England, and Bank of Japan.
USD/JPY trades in the low 147s, EUR/USD in the low 1.17s — broadly unchanged from last week.
Equity markets: Asian stocks saw limited profit-taking, while U.S. and European futures remained resilient.
With few data releases today, attention centers on the NY Fed Manufacturing Index (Sept), due later.
Market forecast: 5.0 (down from 11.9).
Given that a September Fed rate cut is fully priced in, only a major surprise is likely to impact FX.
🗣 Official Comments & Events
Bundesbank Monthly Report
ECB’s Schnabel and President Lagarde scheduled to speak
U.S. Fed officials are in a blackout period, with no policy-related remarks expected.
⚠️ Political & Corporate Headlines
U.S.: President Trump warned of a “national emergency” following an assassination attempt on a close aide. Market impact remains limited.
China: Regulators issued a preliminary finding that Nvidia violated antitrust law; further investigations are expected.
✅ Overall: The week opens under a theme of calm and consolidation. Large moves are unlikely, with investor attention firmly on the mid-to-late week major policy events.
