Breakfast Bites - Busy Week Ahead

Author

Ayesha Tariq
October 29, 2024

Rise and shine everyone.

Post-election dynamics have been complex, with Prime Minister Ishiba exploring a possible partial coalition with the Democratic Party for the People (DPP). However, DPP leader Tamaki rejected the proposal, expressing confusion over the concept of a “partial coalition.” The Japanese yen fell by 6.2% against the USD in October, marking its sharpest monthly decline since November 2016 if losses continue. Meanwhile, the Australian dollar reached a two-month low, while Bitcoin surged to $71,400, its highest since June.

Asian equity markets had a mixed performance, with the Nikkei opening down by 0.2% before rallying to close up 0.6%, outperforming other regional indexes. European stocks saw modest gains as risk sentiment improved, and the USD pulled back slightly.

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