UOB strategists Quek Ser Leang and Lee Sue Ann describe USD/CNH as holding largely unchanged, but with a slight increase in downward momentum. Intraday, they see the bias tilted lower toward 6.6950, with resistance at 6.7055 and 6.7100 and a clear break below 6.6950 deemed unlikely. Over 1–3 weeks, they expect USD/CNH to trade between 6.6950 and 6.7270, while over 1–3 months they anticipate gradual downside as long as it stays below the cloud near 6.7815.

MUFG’s Lloyd Chan previews Malaysia’s Budget 2027, highlighting that prior fiscal reforms and subsidy rationalization provide a buffer against higher Oil prices.

St. Louis Fed President Alberto Musalem is crossing the wires at an event organized by the Minneapolis Fed. So far, he commented that inflation is elevated and that to bring it back to the 2% goal, “more monetary policy firming will be required.”

UOB strategists Quek Ser Leang and Lee Sue Ann note that USD/SGD rebounded to 1.2810 before closing at 1.2797. While upward momentum is rebuilding, it remains insufficient to signal a sustained advance. The pair could edge above 1.2810, but the major resistance at 1.2835 is unlikely to be reached.

The Bank of Mexico, also known as Banxico, released its September meeting minutes, which showed the central bank holding rates unchanged at 6.50% while acknowledging that inflation risks are tilted to the upside.

United States EIA Natural Gas Storage Change came in at 85B, above expectations (79B) in October 2

Deutsche Bank Research’s Germany Blog analyses August hard data, highlighting volatile one-offs in construction and manufacturing but more encouraging fundamentals.

United States Wholesale Inventories registered at 0.5%, below expectations (0.7%) in August

Nordea’s Chief Analyst Jan von Gerich interprets the ECB’s September monetary policy account as supporting further rate hikes, likely in December and March. The Governing Council remains focused on upside inflation risks, especially from persistent energy shocks and resilient growth.

UOB’s Alvin Liew analyzes the September 2026 FOMC minutes, highlighting unanimous support for a 25bp hike to 3.75–4.00% as inflation stays elevated and growth remains solid.

Russia Central Bank Reserves $ came in at $733.2B, above forecasts ($0B)

Bank of England (BoE) Governor Andrew Bailey said on Thursday that financial markets need to be better prepared for future shocks and monetary policy must stay focused on bringing inflation back to target.

The European Central Bank (ECB) is expected to leave interest rates unchanged in October before delivering another increase in December, according to a Reuters poll conducted October 5-8.

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 197K for the week ending October 3.

United States Continuing Jobless Claims came in at 1.716M, above expectations (1.71M) in September 25

United States Initial Jobless Claims 4-week average: 198K (October 2) vs previous 200K

United States Initial Jobless Claims registered at 197K, below expectations (200K) in October 2

Rabobank’s RaboResearch Global Economics & Markets team underscores renewed pressure in European sovereign yields and rising political-economic tensions with China. The report notes sharp moves in French, Italian and Greek bonds and discusses Europe’s struggle with Chinese hybrid vehicle imports.

Deutsche Bank Research, led by Chief UK Economist Sanjay Raja and economist Maui Brennan, nowcasts UK GDP flat in August 2026 after a strong July. They expect services to rise slightly, with declines in production and construction.

The accounts of the European Central Bank's (ECB) September policy meeting showed that all members viewed the risks surrounding the inflation outlook as being to the upside, as reported by Reuters.

Societe Generale expects no change from the NBR, keeping the policy rate at 6.50% as political deadlock in Bucharest and Romanian Leu weakness offset the sharp fall in inflation. The bank notes Headline CPI has dropped markedly on base effects. It highlights ongoing government formation uncertainty and warns that prolonged turmoil could jeopardize Romania’s Investment Grade rating.

ING economists Rafal Benecki and Adam Antoniak note that the National Bank of Poland kept its reference rate at 3.75% in October, as expected, with inflation driven mainly by fuel prices.

The People's Bank of China (PBoC) said on Thursday that China has neither the need nor the intention to depreciate the Chinese Yuan (CNY) to gain a competitive advantage in international trade, according to a statement reported by Reuters.

UOB strategists Quek Ser Leang and Lee Sue Ann note that USD/CHF price action has been quiet, with the pair expected to stay confined intraday between 0.8310 and 0.8345. Over a 1–3 week horizon, they reiterate that USD/CHF has likely entered a range-trading phase between 0.8245 and 0.8365. On a 1–3 month view, they see scope for further rebound but limited momentum to revisit the July peak.

Swiss National Bank (SNB) Chair Martin Schlegel sees no need to adjust monetary policy at this stage, as inflation remains within the central bank's 0%-2% price stability range. "We remain comfortably within the price stability range of 0% to 2%," Schlegel said, according to Reuters, adding that the

UOB strategists Quek Ser Leang and Lee Sue Ann note AUD/USD slipped to 0.6943 after previously expecting modest upside, but the move has not generated strong bearish momentum. Intraday, the Australian Dollar (AUD) is seen consolidating between 0.6935 and 0.6975. On a one to three week view, they have shifted to a neutral stance, looking for range trading between 0.6935 and 0.7020 despite longer-term downside risks.

Federal Reserve (Fed) Governor Christopher Waller said in a speech at the Central Bank of the Republic of Türkiye (TCMB) Istanbul Economic Forum on Thursday that more interest rate hikes are needed as inflation remains too high.

EUR/CAD continues its losing streak for the fourth successive day, trading around 1.5940 during European hours on Thursday. The currency cross has depreciated as the Euro (EUR) faces ongoing pressure driven by fiscal instability in France and broader contagion fears across the Eurozone.

Societe Generale’s Kunal Kundu expects India’s September 2026 headline CPI inflation to jump to 5.6% year-on-year from 4.8% in August, driven by a broad-based food shock and rising energy costs. Core CPI is seen approaching 4.5%, suggesting strengthening underlying pressures.

ING’s Frantisek Taborsky highlights pressure on the Polish Zloty and Romanian Leu. With the National Bank of Poland holding rates at 3.75%, a dovish policy message could push EUR/PLN towards 4.380–4.400.