AUD/JPY loses ground for the second consecutive day, trading around 110.80 during Asian hours on Friday.

The headline Tokyo Consumer Price Index (CPI) for October rose 2.8% YoY as compared to 2.7% in the previous month, the Statistics Bureau of Japan showed on Friday.

OCBC’s Sim Moh Siong and Christopher Wong report that the Bank of Thailand (BoT) kept rates at 1% while upgrading growth forecasts and flagging inflation risks from Oil and El Niño. They expect policy to stay on hold near term, with a cumulative 50bp hike in 1H27.

OCBC’s Sim Moh Siong and Christopher Wong note a sharp divergence between Korean equities and the Korean Won (KRW), with KOSPI’s strong semiconductor-led rally not translating into KRW gains. Heavy foreign USD futures buying and prior overseas equity flows have supported USD/KRW.

Crypto exchange Binance may have suffered a $2.77 billion hack on Thursday after on-chain data showed funds leaving the exchange's hot wallets across five blockchain networks to unconfirmed addresses.

DBS Group Research economist Chua Han Teng analyzes Thailand Markets after the Bank of Thailand (BoT) kept its policy rate at 1.00% for a fourth consecutive meeting. He expects the BoT to remain on hold through 2026, keeping short-end government bond yields stable, while warning that long-end yields face steepening risks from global energy, food prices and US Treasury spillovers.

OCBC’s Sim Moh Siong and Christopher Wong note that the Philippine Peso (PHP) has recovered modestly as authorities, including President Marcos and Bangko Sentral ng Pilipinas (BSP) officials, step up rhetoric against further weakness.

The European Central Bank (ECB) unanimously left its three key interest rates unchanged, keeping the deposit rate at 2.50%, as policymakers assessed the impact of renewed energy-price increases.

MUFG’s Lloyd Chan notes that the Bank of Thailand (BoT) kept its policy rate at 1.00% for a fourth consecutive meeting and still expects modest Gross Domestic Product (GDP) growth in 2026 and 2027.

UOB strategists Quek Ser Leang and Lee Sue Ann note that USD/SGD remains broadly stable, with spot around 1.2815 and the S$NEER holding 1.52% above its estimated mid-point.

The US Dollar (USD) has come under renewed downside pressure on Thursday, receding to three-day lows while market participants assessed the ECB’s interest rate decision and kept monitoring developments from the Middle East crisis.

OCBC’s Sim Moh Siong and Christopher Wong remain mildly cautious on the Indonesian Rupiah (IDR) as MSCI reclassification uncertainty, foreign equity selling, elevated oil prices and a firm US Dollar weigh on the currency.

Standard Chartered economist Dan Pan analyzes the Bank of Canada’s 25bps rate hike to 2.5%, which came despite subdued core inflation and soft growth. The bank now expects another 25bps increase in December, taking the year-end rate to 2.75%, and sees the BoC pausing in 2027, with scope for further hikes if growth momentum is confirmed.

DBS Group Research economist Sherilyn Chew highlights deepening stress in Indonesia’s bond market, with IndoGBs extending losses following MSCI-driven outflows despite recent calibrated policy moves by Bank Indonesia. She notes bear-steepening of the curve, pronounced pressure in the belly, cautious corporate issuance, and Indonesia’s potential Panda bond sale as a pragmatic but limited funding diversification step.

Societe Generale highlights ongoing Hungarian bonds gains as Hungary’s government details a four-year Euro adoption roadmap combining fiscal consolidation with growth ambitions. The plan assumes 2.4% GDP growth next year, with a more ambitious target above 3% from 2030.

Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to leave key rates unchanged at the October policy meeting and responds to questions from the press.

Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to leave key rates unchanged at the October policy meeting and responds to questions from the press.

Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to leave key rates unchanged at the October policy meeting and responds to questions from the press.

Rabobank's Senior Macro Strategist Bas van Geffen reports that the Bank of Canada raised rates in response to persistent energy-driven inflation. Governor Macklem framed the move as containing the risk of broader price pressures, with inflation projections lifted notably for this year and 2027. The policy statement signals that additional rate increases may be needed, and strategists expect another hike in December.

UOB strategists Quek Ser Leang and Lee Sue Ann report that GBP/USD rebounded to 1.3339 after a deeper-than-expected drop, easing immediate downside pressure and pointing to intraday range-trading between 1.3295 and 1.3350. Over 1–3 weeks, they retain a negative bias, looking for a move toward 1.3265 as long as the pair stays below strong resistance at 1.3365, despite a longer-term view of potential rebound toward 1.3480.

Norman Liebke at Commerzbank reports that the Bank of Canada raised rates to 2.5% and signalled a data-dependent approach. Inflation is projected above target until mid-2028, with growth risks centred on US tariffs but supported by energy investment.

According to a report from the US Department of Labour (DOL) released on Thursday, the number of US citizens submitting new applications for unemployment insurance decreased to 194K for the week ending October 24.

The United States' (US) Gross Domestic Product (GDP) grew at an annual rate of 3.4% in the third quarter, the US Bureau of Economic Analysis' (BEA) first estimate showed on Thursday.

MUFG’s Lee Hardman highlights that the Euro faces downside risks as the ECB meets against a backdrop of sharply higher French bond yields and surging European natural gas prices. MUFG expects the ECB to leave rates on hold today but still projects one more hike in December.

The US Dollar (USD) remains in a consolidation phase after the Federal Reserve’s decision to keep interest rates on hold, with market attention shifting directly toward key economic data releases.

UOB strategists Quek Ser Leang and Lee Sue Ann note that AUD/USD outperformed, rising to 0.7065 and closing at 0.7055 as overbought conditions build. Intraday, they see scope for a test of 0.7070 but doubt a sustained break above that level, with 0.7095 also unlikely to be threatened.

The European Central Bank (ECB) announced on Thursday that President Christine Lagarde has informed the Governing Council that she will resign from her position on February 7, 2027.

Societe Generale analysts see scope for a relief rally in GBP/USD following the UK Budget and ahead of a potentially hawkish Bank of England hike. They argue the UK is on track for the fastest fiscal consolidation in the G7, which could eventually support Gilts and Sterling.

Belgium Gross Domestic Product (QoQ) above expectations (0.2%) in 3Q: Actual (0.3%)

Eurozone Consumer Confidence meets expectations (-17.9) in October