Fed's groundwork and the jobs data push
This week's market may have sparse economic indicators, but since employment data comes the following week, there are many scheduled U.S. government bond auctions. Also, China will be on holiday until the 7th for National Day. On Monday, Prime Minister Takaichi will deliver a policy address. Having proactively pursued fiscal expansion earlier this year, what policy guidelines Prime Minister Takaichi presents this time seems likely to influence the direction of the yen.
There are no economic indicators, but given concerns about global rates rising, this week we will focus on U.S. debt auctions. The U.S. debt auctions in September of last month showed solid results for both the 10-year and the 30-year, and as explained previously, demand for new government bonds remains relatively strong, so if auctions become the trigger for U.S. rates to move downward, it would align with my scenario.