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<ul><li><a href="https://www.forexlive.com/news/japan-august-core-cpi-30-vs-30-expected-20221020/">Japan August core CPI +3.0% vs +3.0% expected</a></li><li><a href="https://www.forexlive.com/news/new-zealand-september-trade-balance-1615b-vs-2447b-prior-20221020/">New Zealand September trade balance -1.615B vs -2.447B prior</a></li><li><a href="https://www.forexlive.com/news/uk-october-gfk-consumer-confidence-47-vs-52-expected-20221020/">UK October GfK consumer confidence -47 vs -52 expected</a></li><li><a href="https://www.forexlive.com/news/germany-drops-oppostion-to-eu-natural-gas-price-cap-20221021/">Germany drops oppostion to EU natural gas price cap</a></li><li><a href="https://www.forexlive.com/centralbank/bank-of-japan-increases-amount-at-regular-bond-buying-operation-20221021/">Bank of Japan increases amount at regular bond buying operation</a></li><li><a href="https://www.forexlive.com/news/japans-suzuki-we-are-facing-speculators-severely-20221021/">Japan's Suzuki: We are facing speculators severely</a></li><li><a href="https://www.forexlive.com/news/japan-econ-min-yamagiwa-sharp-fx-moves-undesirable-20221020/">Japan econ min Yamagiwa: Sharp FX moves undesirable</a></li><li><a href="https://www.forexlive.com/news/snap-share-sink-26-dragging-down-advertising-supported-tech-stocks-20221020/">Snap share sink 26%, dragging down advertising-supported tech stocks</a></li></ul><p>Markets:</p><ul><li>Gold down $5 to $1621</li><li>WTI crude up 27-cents to $84.80</li><li>US 10-year yields up 3 bps to 4.26%</li><li>S&P 500 futures down 9 points</li><li>USD leads, NZD lags</li></ul><p>USD/JPY is at a fresh 32-year high at the moment with yields beginning a fresh climb. There were some thoughts that a hot Japanese CPI report would raise questions about a shift form the BOJ at the upcoming meeting but the numbers were modest (showhow?). In addition, the BOJ raised its regular bond purchases in a sign that no shifts are coming.</p><p>USD/JPY is now higher for a 13th straight day as the perfect storm continues to envelop the yen. Politica pressures are rising on Japanese politicians but signs of action are tough to find.</p><p>The dollar is broadly higher and a better New Zealand trade number did nothing for the kiwi, which is lagging. Earnings reports in the US weighed on ad-supported tech with Snap withdrawing guidance. Whirlpool numbers also highlighted the drag from FX. That said, futures aren't down much and the Nikkei is down just 0.2%.</p><p>Cable will obviously remain in focus with a rough timeline now putting in a new UK PM by next Friday but the lack of democratic input is going to be controversial. Expect a heavy dose of drama in the week ahead but even with all the turmoil it's tough to imagine it getting any worse than the last 24 hours. Cable initially earned a relief rally but it's back below 1.1200 and sagging today.</p>

                This article was written by Adam Button at forexlive.com.