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Related tickers and likely impact
DXY
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/19/2026 | 101.98 |
| Change that session | +0.20% |
VNINDEX
• NeutralRelevance: low
| Market | Vietnam stocks |
|---|---|
| Close on 10/19/2026 | 1,689.84 |
| Change that session | -0.94% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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Asian currencies traded flat to slightly higher on Monday while the dollar held steady after a 0.4% weekly fall that ended a four-week winning streak. The yuan reached its strongest level since July 2022, with onshore USD/CNY down 0.1% to 6.6816, after China's third-quarter GDP grew 4.5% year on year, beating the 4.4% forecast. September industrial output rose 5.5% and retail sales 1.1%, but property investment fell 20.6% in the first nine months and fixed-asset investment dropped 7.2%, which could limit the yuan's gains. The yen was near 158 per dollar amid intervention fears, while the rupee posted its strongest weekly performance in nearly four years after Reserve Bank of India measures to curb dollar demand. The Australian dollar gained 0.4% and the won strengthened 0.2% against the dollar.
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China's third-quarter GDP grew 4.5% year on year, up from 4.3% in the previous quarter and above the 4.4% median forecast in a Bloomberg survey, according to the National Bureau of Statistics. Growth for January-September reached 4.6%, within the 4.5-5% annual target. September industrial output rose 5.5% and retail sales grew 1.1%, but fixed-asset investment fell 7.2% in the first nine months and property investment dropped 20.6%. A strategist at Australia & New Zealand Banking Group attributed the improvement partly to higher government spending and warned the recovery remains vulnerable to fiscal uncertainty. The offshore yuan gained more than 4% this year, trading at 6.6829 per US dollar, while the 10-year bond yield rose to 1.65%.
- China economy accelerated in the July - September quarter on robust exports
China's economy grew 4.5% in the July–September quarter from a year earlier, faster than the 4.3% pace in April–June, driven by strong exports and moving it closer to the 4.5%–5% annual target. Domestic demand remains weak, weighed down by a prolonged property slump, and economists warn the headline growth figure increasingly masks disparities across industries, regions and households. Exports rose 36% last month, and the trade surplus reached $938 billion from January to September, putting China on track to surpass last year's record $1.2 trillion. The EU, which runs a trade deficit with China of more than $1.1 billion a day, is pressing for rebalancing after the two sides agreed to roughly halve Chinese hybrid vehicle imports. Some partners argue an undervalued yuan has added to the surplus, a claim China's central bank rejects.
- China economy accelerated in the July - September quarter on robust exports
China said its economy grew 4.5% from a year earlier in the July-September quarter, faster than the 4.3% pace in the previous quarter, driven by robust exports. Domestic demand remained weak, as a years-long property downturn has squeezed household wealth and driven up savings. Exports grew 36% last month, and the trade surplus reached $938 billion from January to September, on track to surpass last year's record $1.2 trillion. The European Union, where the deficit with China exceeds $1.1 billion a day, is pressing Beijing to rebalance trade, as exports to the EU rose 16% in the first nine months of the year. Analysts warn that this export-reliant growth model has created limited job gains, while the yuan is accused of being undervalued.
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People's Bank of China Governor Pan Gongsheng said China has no need or intent to gain trade advantages through currency devaluation, rejecting foreign media reports that Beijing deliberately keeps the yuan weak. He said the yuan's sensitivity to exchange rate movements in trade has dropped significantly, and China has never engaged in competitive devaluation during the Asian financial crisis, the global financial crisis or recent trade wars. The PBC runs a managed floating system that references a basket of currencies, and in extreme circumstances may intervene directly in the FX market, in line with international rules. Pan also said yuan settlements accounted for 29.1% of China's cross-border goods trade receipts and payments in the first half of 2026, up 1 percentage point from a year earlier.
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