以為亞洲時段只是倫敦和紐約開市前的平靜序幕？那你就錯了。隨著澳洲儲備銀行（RBA）權衡國內債務問題、東京重新評估通脹的持續性，以及北京致力於管控工業發展勢頭，亞太市場在十一月將面臨劇烈波動，箇中原因如下。
By GO Markets Research Desk, 1 November 2026
This preview reflects information available as at 21 October 2026. It is written ahead of the remaining October policy decisions and data releases, which could change the outlook for November.
Regional backdrop
As October enters its final stretch, attention is turning to November's policy decisions and economic releases across the Asia-Pacific region. Key events ahead include the cash rate decision from the Reserve Bank of Australia (RBA), further insight into Japan's policy outlook and updates on Chinese industrial demand.
For traders following regional equities and index CFDs, the month ahead brings a busy calendar across developed and emerging markets.
Factory-gate prices
Factory-gate prices and retail demand.
BOJ policy outlook
Bank of Japan (BOJ) policy outlook and inflation persistence.
RBA decision
RBA cash rate decision and guidance.
Energy and trade
Energy price volatility and global trade shifts.
Section 01: China
China's November releases may help assess whether manufacturing momentum and domestic consumer spending can hold through the fourth quarter (Q4). The focus is on factory-gate price trends and whether policy support is helping to stabilise demand.
The manufacturing purchasing managers' index (PMI) is an early event on the November calendar, followed by inflation, trade and broader activity figures.
- Whether manufacturing PMI readings hold above the 50 expansion threshold and what producer price index (PPI) figures indicate about factory-gate price trends
- Retail sales offering a read on domestic consumer spending after the holiday period
- Trade figures helping to assess whether export demand remains resilient to international trade tensions and shipping adjustments
China's industrial activity matters for Australian resource exporters and the Australian dollar. Stronger releases could support commodity demand and regional risk appetite, while softer figures could weigh on sentiment. These are potential responses, rather than assured outcomes.
Section 02: Japan
The BOJ raised its policy rate to around 1.25% in September. At the time of writing in late October, its next meeting on 29 to 30 October is still ahead, so the policy backdrop entering November is not yet settled.
That meeting's decision and guidance could shape how markets interpret November's inflation data, economic growth figures and subsequent central bank commentary.
- Summary of Opinions providing more detail on policymakers' views about the pace of policy normalisation
- Inflation releases offering further evidence on price persistence relative to the BOJ's 2% target
- Q3 gross domestic product (GDP) helping to assess underlying economic resilience
- Public statements from central bank officials clarifying their views on import cost pressures and currency fluctuations
Changes in Japanese interest rate expectations may affect capital flows and currency positioning across the region. Yen movements can also influence costs and margins for Japanese companies, including exporters. The effect will depend on each company's exposure, rather than the currency move alone, and can directly impact forex CFDs.
Section 03: Australia
The RBA raised its cash rate target by 25 basis points (bps) to 4.60% in late September. Attention is now turning to its November meeting as the central bank weighs persistent inflation against household borrowing constraints.
Before that meeting, Australia's September consumer price index release is scheduled for 28 October, remaining ahead at the time of writing in late October and capable of changing expectations for the November decision.
- The cash rate decision, revised inflation projections in the Statement on Monetary Policy (SMP) and guidance on whether further policy tightening remains possible
- Employment figures helping to assess conditions in the domestic labour market
- Monthly consumer price index updates confirming the trajectory of headline and underlying inflation
The cash rate influences commercial bank lending rates, consumer spending and asset valuations, including those of interest-rate-sensitive equities, though these effects can take time to work through the economy. For traders following the Australian dollar and forex CFDs, the announcements may also shift expectations about interest rate differences between Australia and other major economies.
Section 04: Regional themes to watch
New Zealand policy outlook: The Reserve Bank of New Zealand (RBNZ) has a policy decision scheduled for 28 October, still ahead at the time of writing in late October. Its guidance could shape November expectations before the next scheduled decision and economic forecasts on 9 December.
Energy market fluctuations: Crude oil and liquefied natural gas (LNG) price movements remain relevant to the regional outlook. Higher energy costs could add to inflation pressures and weigh on activity in energy-importing economies.
Southeast Asian manufacturing trends: November's PMI releases across Association of Southeast Asian Nations (ASEAN) economies may provide further signals about manufacturing conditions and trade demand.
Trade and tariff discussions: Changes in international trade policies could influence regional export demand and supply chains, adding uncertainty to the outlook.
Key watchlist
Top China data point
Industrial production and retail sales on 16 November
Top Japan event
Summary of Opinions from the October policy meeting on 10 November
Top Australia event
RBA cash rate decision and Statement on Monetary Policy on 3 November
Main regional wildcard
Energy market price shocks and shipping route friction
Most sensitive market
Australian Dollar (AUD/USD) and Japanese Yen (USD/JPY)
Key threshold or shift
Market expectations surrounding a potential December Bank of Japan rate move
As November unfolds, the combination of early RBA policy guidance, incoming Chinese activity data, and BOJ monetary policy communications will dictate regional cross-asset direction. Traders continue to balance these fundamental catalysts against external energy and trade risks.
Follow Asia-Pacific market drivers
Keep central bank decisions, regional data and cross-market reactions in view as the month develops.
本預覽反映截至 2026 年 10 月 21 日的資訊。內容於十月份餘下的政策決策及數據發佈前撰寫，相關結果可能會改變十一月的市場前景。
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