Market Highlight 03.11.2026

The Reserve Bank of Australia’s (RBA) two-day policy meeting, which concludes on Tuesday, will be one of the most closely watched meetings this week, against a backdrop of sharply falling house prices and persistently high inflation showing little sign of easing. The RBA’s monetary policy board is almost certain to raise the policy rate to 4,85% today, the highest level in 18 years, while potentially leaving the door open to another rate hike in December or February. Australia’s economic downturn is pushing unemployment higher and raising concerns over job security. For the Australian Central Bank, the housing market downturn may not be its primary concern as the RBA continues to focus on bringing inflation, currently above 4% year-on-year, under control. Australian house prices are forecast to decline by 15% during the current cycle, putting further pressure on already weak consumer and business confidence. Data released on Monday showed that manufacturing activity contracted in October at its fastest pace since late 2024. The downturn in the sector prompted companies to cut employment for a second consecutive month.

The USD Index edged down by 0,16% on Monday as global oil prices fell by 7% and markets awaited the outcome of the U.S midterm elections on 3/11. Data released last night showed that the U.S manufacturing Purchasing Managers’ Index (PMI) rose to 55,5 in October from 54,5 in September, while input prices remained elevated.

Interbank USD/VND declined by a further VND 20 on the first trading day of the week and closed at 25.780, tracking the weaker USD in global markets. The SBV lowered the effective daily ceiling to 26.912 yesterday.

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