Market Highlight 02.11.2026

China’s manufacturing activity slowed in October, with the manufacturing PMI falling to 49,3 from 50,1 in September. This highlights the challenges facing policymakers as they seek to sustain the economic recovery and ensure that this year’s growth target of 4,5% - 5% is achieved. Weakness was broad-based across both supply and demand, with the industrial production and new orders indices both declining. However, the high-tech manufacturing PMI remained at 51,3, indicating continued expansion even as overall manufacturing activity weakened.

U.S labor market data for October will be closely watched this week, alongside the outcome of the midterm elections in the world’s largest economy. A wide range of important data will be released ahead of Friday’s Nonfarm Payrolls report from the Bureau of Labor Statistics. Forecasts suggest that U.S job growth could more than double in October to 65.000, while the unemployment rate is expected to remain unchanged at 4,2%. This could provide room for the Federal Reserve (FED) to continue raising interest rates in the coming months to contain inflation. Other key U.S economic data will be released on Monday, including manufacturing figures expected to show continued strong factory activity in October, while trade data on Wednesday could confirm that Artificial Intelligence-related imports continued to widen the trade deficit last month. Central Bank policy decisions will also be a major focus this week, with potential rate hikes from the UK to Australia.

Interbank USD/VND fell to an intraday low of 25.785 on Friday before recovering and closing the week at 25.805. Since the beginning of 2026, the exchange rate has declined by nearly 1,9%.

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