Market Highlight 05.11.2026

According to data released by ADP Research on Wednesday, U.S private-sector employment increased by 86.000 for a second consecutive month, marking the strongest gain since June. The increase was driven by hiring in trade, transportation and utilities, education and health services, leisure and hospitality, financial activities, and construction. Strong consumer spending and economic growth have reinforced labor market resilience, allowing many companies to expand hiring despite persistent cost pressures. This could help keep the U.S unemployment rate low and allow the Federal Reserve (FED) to remain focused on containing inflation.

According to data released by Eurostat on Wednesday, consumer prices in Europe rose by 4% in October from a year earlier, up from 3,8% in September. This was also the highest inflation rate since September 2023. Inflation in the region is therefore running at twice the European Central Bank’s target, reinforcing the case for further interest-rate increases. Although the ECB kept its policy rate unchanged last month, many policymakers continue to support a third rate hike in December since the outbreak of the Iran war if the inflation outlook does not improve.

The USD fell by 0,4% following the Democratic Party’s victory in the U.S midterm elections, which is expected to help stabilize Government policies over the next 2 years. U.S equities rallied sharply, with the S&P 500 rising by around 2%, while crude oil prices continued to ease. Markets are still pricing in more than an 80% probability that the FED will raise rates in December. Domestically, interbank USD/VND continued to decline to around 25.700 on Wednesday, pressured by the weaker USD Index.

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