Overview
- Japan’s yen slid to roughly 153 per dollar after Sanae Takaichi’s ascent to lead the LDP boosted expectations for fiscal stimulus and a slower BOJ tightening path.
- The euro stayed under pressure following the resignation of French Prime Minister Sébastien Lecornu, with President Emmanuel Macron set to appoint a new premier within about 48 hours.
- Federal Reserve minutes highlighted rising job‑market risks even as officials warned about inflation, yet futures still price roughly mid‑90% odds of a 25 bp cut on Oct. 28–29.
- The U.S. government shutdown reached day nine, delaying key economic releases and leaving markets to rely on speeches, earnings and technical signals.
- Gold pulled back below $4,000 an ounce after a record peak, while strength in AI and semiconductor names continued to buoy equities despite mounting valuation worries.