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2w ago

Dollar Slips, Yen Firms as Asia Stocks Fade Before Delayed U.S. Jobs Report

Investors are waiting for a rare two‑month U.S. employment release that could recalibrate views on interest rates.

U.S. dollar, Euro, Chinese Yuan, Canadian dollar, Turkish Lira and Pound banknotes are seen in this illustration taken May 4, 2025. REUTERS/Dado Ruvic/Illustration
A man looks at a stock quotation board displaying the Nikkei share average outside a brokerage in Tokyo, Japan, October 21, 2025. REUTERS/Manami Yamada
Image
Investors are awaiting the release of key US jobs data later in the day

Overview

  • The Bureau of Labor Statistics is set to publish combined October–November payrolls after shutdown‑related delays, making the release a market focal point.
  • The dollar index hovered near a two‑month low, the yen strengthened into the mid‑154s per dollar, and the euro held around $1.175 on cautious positioning.
  • Asian equities opened lower with declines in Japan and softer U.S. futures, while haven demand supported gold and Treasury yields steadied.
  • CME FedWatch implied about a 75.6% chance the Federal Reserve holds rates on Jan. 28 as traders assess how the jobs print could shape the 2026 path.
  • A busy policy week looms with the Bank of Japan widely expected to hike by 25 basis points to roughly 0.75% and decisions due from the ECB and Bank of England.