Financial Market Newsletter

The U.S and China agreed to establish Trade and Investment Councils at last week’s summit to address shared concerns over market access and agricultural products.

U.S retail sales rose for a third consecutive month in April, pointing to continued resilience in consumer spending despite sharply higher gasoline prices.

The U.S Senate confirmed Kevin Warsh as the 17th Chair of the Federal Reserve on Wednesday night by a 54 - 45 vote. No FED Chair has been confirmed by such a narrow margin since Senate confirmation became a mandatory requirement for the position in 1977.

U.S consumer prices rose 3,8% in April from the same month in 2025, reflecting a clear impact from higher gas prices since the outbreak of the war in Iran.

Global gold prices traded around 4.740 USD/ounce after rising 0,4% on Monday, as markets assessed the deadlock in the Strait of Hormuz, a factor that has pushed oil prices higher and further intensified inflation concerns.

The USD/VND interbank exchange rate maintained a downward trajectory throughout last week, closing at 26,310, in line with the broader weakening trend of the U.S. dollar in global markets.

Asia is facing a new inflation threat on top of the oil shock, as the approaching El Nino phenomenon is expected to bring hotter temperatures and drier weather to countries from India to New Zealand, pushing food prices higher.

President D. Trump’s recent remarks about raising tariffs on European cars serve as a warning to markets that the war in Iran has not reduced the U.S Government’s focus on its trading partners.

The U.S April employment report due on Friday will help clarify whether the U.S economy remains resilient enough for the FED to maintain its current policy stance.