USD/JPY was steady in Tokyo’s opening hour, weighing trade risks and upcoming events. Looking ahead, eyes are on US Industrial Production and Fed speakers. USD/JPY is steady in Tokyo’s opening hour, down -0.02% despite the concerns over the ‘Phase1’ deal made between China and the US on Friday. USD/JPY has advanced from below the 108 handle on the prior optimism but was capped at the highs of 108.62 as sme doubts started to surface. The lack of firm agreement or details was a cause for concern on Friday and the Chinese process didn’t even print the event as headline front-page news. Instead, news was circulating that Cina neds a further meeting prior to putting anything in ink, perhaps to iron out some potential miscommunications. Nevertheless, the Global Times was somewhat more encouraging, suggesting that a breakthrough had been made. Traders await further details and clarification as to just where the US and China are within this agreement. Meanwhile, the NY Fed Empire State manufacturing survey was released a day early, rising from +2 in September to +4 in Oct. Gieven the holiday thin trade, however, the markets were quiet. The US treasury markets (cash) were closed due to the holiday but futures did traded. Traders expect a fall in the 10-year yield from 1.72% to 1.67%. “Markets are pricing 16bp of easing at the 31 October meeting and a terminal rate of 1.24% (vs 1.88% currently),” analysts at Westpac explained. Looking ahead Looking ahead for the week, eyes will be on US Industrial Production and Fed speakers. “We project industrial production to slow from its solid 0.6% m/m jump in August to 0.2% in September, largely reflecting fading manufacturing output and despite an expected rebound in growth for the utility sector. We project a flat print for manufacturing, as less supportive global demand and continued trade uncertainty continues to drag production lower,” analysts at TD Securities explained. Meanwhile, Fedspeak will involve Bullard in London, Bostic at a community event and George at the event of a payment and Daly in LA. “Annual meetings of the IMF are held in Washington. JP, Goldman and Citigroup all report earnings. The 4th Democratic debate is held in Ohio,” analysts at Westpac noted. USD/JPY levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/JPY drops and pops after RBA minutes FX Street 3 years USD/JPY was steady in Tokyo's opening hour, weighing trade risks and upcoming events. Looking ahead, eyes are on US Industrial Production and Fed speakers. USD/JPY is steady in Tokyo's opening hour, down -0.02% despite the concerns over the 'Phase1' deal made between China and the US on Friday. USD/JPY has advanced from below the 108 handle on the prior optimism but was capped at the highs of 108.62 as sme doubts started to surface. The lack of firm agreement or details was a cause for concern on Friday and the Chinese process didn't even print the event as… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.