Market Highlight 04.07.2025

  U.S job growth maintained a stable pace in June, with the economy adding 147.000 new jobs, surpassing the expected gain of 110.000. The unemployment rate unexpectedly fell from 4,2% to 4,1%. U.S equity markets reacted positively, with both the S&P 500 and the Nasdaq Composite setting new record highs, buoyed by expectations that the world’s largest economy will remain resilient despite concerns over the impact of tariffs and immigration deportation policies. The USD Index rose nearly 0,4% on Monday, marking a second consecutive daily gain, though it remains at its lowest level in more than 3 years. Market expectations for the Federal Reserve to keep its policy rate unchanged at the July meeting have climbed to 95%, up from 75% just a day earlier. 
  According to the Vietnamese Government’s June regular meeting, Vietnam’s GDP is estimated to have grown by 7,67% in Q2 2025, with the average CPI for the first half of the year rising by 3,27%. Exports and imports in June totaled nearly USD 76,15 billion, up 18,1% year-on-year; for the first 6 months, total trade reached over USD 432 billion, up 16,1%, resulting in a trade surplus of USD 7,63 billion. Public investment disbursement as of the end of June reached 32,46% of the target assigned by the Prime Minister, 4,26% higher than the same period last year. FDI attraction in the first 6 months totaled USD 21,5 billion, up 32,5% - the highest in 15 years - with realized FDI capital increasing by 8,1%. As of June 26, 2025, total outstanding credit in Vietnam’s banking system stood at more than VND 16,9 quadrillion, up 8,3% compared to the end of 2024.
  The USD/VND interbank exchange rate rose by about 60 VND on Monday, setting a new all-time high of 26.235 following news of the U.S - Vietnam tariff negotiations. The market closed the day at 26.200. While markets await further details on the trade agreement, the exchange rate is expected to remain stable within the 26.150 - 26.250 range.

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