DBS Group Research anticipates Vietnam’s October 2026 exports and retail sales to stay robust, while headline inflation hovers around 5%, above the 4.5% target. Strong electronics shipments, firm household spending and tourism underpin activity, but elevated transport, energy, food and material costs pose a policy challenge as authorities pursue at least 10% economic growth.

United Overseas Bank strategists Quek Ser Leang and Lee Sue maintain a negative stance on USD/CNH, noting that the pair has been edging lower and remains under downward pressure.

OCBC strategists Sim Moh Siong and Christopher Wong note that USD/SGD has eased with the softer US Dollar (USD) and lower US yields, while Singapore’s import prices show strong energy-driven inflation.

On Friday, the Dallas Federal Reserve President Lorie Logan said that “at least two more quarter-point rate hikes” are needed. She added that skipping a hike “doesn’t change policy destination,” and that adjusting interest rates “gradually” reduces the risks of a sharp economic deterioration.

Commerzbank’s Charlie Lay reports that the Bank of Thailand kept its policy rate at 1.00%, with the MPC maintaining a hold but signalling a less dovish stance.

On Friday, St. Louis Federal Reserve (Fed) President Alberto Musalem said that the Federal Reserve will need to raise rates “again soon” and, echoing earlier statements from Richmond Fed President Thomas Barkin, he prefers a gradual approach.

OCBC strategists Sim Moh Siong and Christopher Wong describe a measured but persistent appreciation trend in the Renminbi (RMB), with onshore spot and the CFETS index at four-year highs and the People's Bank of China (PBoC) guiding a stronger fixing.

On Friday, Richmond Federal Reserve President, Thomas Barkin, crossed the wires on SiriusXM Business Briefing. He said that the Fed’s direction of travel is “straightforward,” while noting that the question is the pace.

Gold prices plunged below $3,900 on Friday, reaching a new year-to-date (YTD) low even though expectations that the Federal Reserve will tighten policy are trimmed by investors. The XAU/USD dives almost 3% at the time of writing.

DBS Group Research, led by Chief Economist Taimur Baig, expects Bank Negara Malaysia to keep its Overnight Policy Rate at 2.75% at the final 2026 meeting. The report highlights contained inflation within the official 1.5-2.5% range, strong GDP and export performance, and fuel subsidies limiting cost pass-through, suggesting monetary policy normalisation can be delayed until 1H27.

The Bank of Japan left its short-term policy rate unchanged at 1.25% but delivered a distinctly hawkish message on the risk of an inflation overshoot.

Societe Generale economists Reo Sakida and Jin Kenzaki note that food inflation continued to ease in October's Tokyo CPI data, while oil-related goods inflation edged higher.

UOB economist Lee Sue Ann notes that the European Central Bank (ECB) kept key rates unchanged in October but delivered a hawkish message.

Nordea’s Kjetil Olsen expects Norges Bank to keep its key policy rate at 4.5% next Thursday, in line with the September rate path. He notes mixed data: slightly higher core inflation and energy prices versus a stronger NOK and softer retail sales. Olsen argues communication will stay broadly unchanged and that rate cuts are unlikely before inflation clearly converges to the 2% target, which he does not foresee before 2028.

Rabobank strategist Stefan Koopman expects the Bank of England’s (BoE) Monetary Policy Committee (MPC) to raise Bank Rate to 4.00% in November 2026 in a 7-2 split, followed by another 25bp hike to 4.25% in February 2027. The report stresses that higher market rates have already tightened conditions, but argues policymakers must now validate pricing. Fiscal policy is seen as a minor offset to the energy-driven inflation shock.

Inflation in Germany, as measured by the change in the Consumer Price Index, declined to 2.8% (preliminary) in October from 3.3% in September, Germany's Destatis reported on Friday.

TD Securities economists Oscar Munoz and Eli Nir argue that strong US domestic demand, led by AI-related capital expenditure and resilient consumer spending, is inconsistent with a smooth return to the Federal Reserve’s 2% inflation objective.

United States Employment Cost Index in line with forecasts (0.8%) in 3Q

Canada Gross Domestic Product (MoM) below expectations (0.2%) in August: Actual (0%)

Rabobank's Senior Macro Strategist Bas van Geffen reports that President Lagarde acknowledged inflation will remain well above target and that the European Central Bank (ECB) discussed a rate hike but left policy unchanged.

Mexico Gross Domestic Product (YoY) above expectations (2.5%) in 3Q: Actual (3.2%)

South Africa Trade Balance (in Rands) registered at 19.8B above expectations (0B) in September

Mexico Gross Domestic Product (QoQ) came in at 0.9%, above expectations (0.7%) in 3Q

United Overseas Bank strategists Quek Ser Leang and Lee Sue highlight a sharp USD/CHF drop that invalidated their prior range-trading call and erased earlier upside momentum.

India Bank Loan Growth declined to 18.2% in October 5 from previous 19.4%

The comments from European Central Bank (ECB) policymaker and Bundesbank President Joachim Nagel released during Friday’s European session on Bloomberg signal that the central bank is committed to a chieve price stability.

Italy Consumer Price Index (YoY) came in at 5.4%, above expectations (4.6%) in October

Italy Consumer Price Index (MoM) registered at 0.9% above expectations (0.3%) in October

Italy Consumer Price Index (EU Norm) (MoM) above expectations (0.5%) in October: Actual (1.2%)

Italy Consumer Price Index (EU Norm) (YoY) came in at 5.6%, above forecasts (4.6%) in October