Market Highlight 06.08.2026

The U.S services sector expanded at a steady pace in July, supported by stronger new orders and more positive business activity. Specifically, new orders grew at a very rapid pace, while the business activity index rose to its highest level in 5 months, indicating that consumer demand in the economy remained relatively strong. However, higher costs for services and raw materials continued to put pressure on businesses. The impact of tariffs, conflict in the Middle East, and the World Cup was linked to stronger business activity and new orders, helping the U.S services economy continue its solid recovery. As many as 13 U.S service industries recorded growth in July, including retail trade, transportation and warehousing, and construction.

According to ADP data released on Wednesday, U.S private-sector employment increased by only 44.000 jobs last month, the lowest level since the beginning of the year, after rising by 95.000 in June. U.S companies therefore created fewer jobs than expected in July, suggesting that hiring momentum slowed somewhat after a period of strong growth at the beginning of the year. The USD Index fell by 0,2% last night to 99,69 after touching a six-week low on Monday. With oil prices trading around 80 USD/barrel and President D. Trump stating that the U.S had held “very good discussions” with Iran, demand for the USD as a safe-haven asset is declining. Lower oil prices have also prompted the market to reduce expectations of a FED rate hike in September, with the probability falling to nearly 50% from 70% last week.

Interbank USD/VND fell by a further VND 20 on Wednesday to 26.255 at the end of the day. Meanwhile, the effective daily ceiling continued to be raised sharply by another VND 26 to 26.675.

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