Last Friday’s jobs report release was important.

The September FOMC meeting was key to whether the rate would be cut by 0.25% or 0.50%. The market reacted by buying the dollar when the result was in line with market expectations, even if it was slightly higher than expected.
In such cases, it is really a game of chance, and if the numbers are the same, we are happy, but if they are different, we are blindsided. The market seems to want to see bad numbers. The market seems to want to see bad numbers because the dollar was down more than one yen against the yen in the midst of nothing.

The yen strengthened against the dollar after Bank of Japan Governor Ueda attended a meeting of the Council on Economic and Fiscal Policy and indicated that the Bank would “continue to raise policy rates and adjust the degree of monetary easing” if the price outlook was to be realized. However, there was no new material in the statement itself, and the overbought highs during the rebound phase of the dollar were overpriced, which led to some heavy selling.

When economic indicators are released these days, the market simply buys if the numbers are good and sells if the numbers are bad, but the speed of the buying and selling can go too fast. It is difficult to take a position in advance. It may be better to take advantage of the numbers rather than to make up your mind in advance.