Market Highlight 09.11.2026

The U.S October Nonfarm Payrolls report, released on Friday evening, significantly exceeded market expectations, with the economy adding 165.000 jobs, well above the forecast of 59.000. Meanwhile, the unemployment rate fell to 4,1%, below the expected 4,2%. Employment figures for both August and September were revised up by a combined 84.000 jobs. This provides strong evidence that the U.S labor market has moved beyond the stagnation seen in the middle of the year. October’s job gains were driven by an increase of 70.000 positions in business and professional services. The development of Artificial Intelligence (AI) has also been creating jobs for workers involved in data-center construction. However, employers cut more than 15.000 jobs in the housing sector, indicating that high interest rates are slowing construction activity. Average hourly earnings rose by 3,1% year-on-year, marking the seventh consecutive month in which wage growth failed to outpace inflation.

At present, the FED is focusing more on inflation than on the U.S labor market, which has remained relatively stable despite some signs of weakness earlier this year. The USD Index rose sharply by 0,7% on Friday evening after the stronger-than-expected U.S jobs report reinforced expectations of an 80% probability that the FED will raise interest rates by 0,25% on 9/12. Meanwhile, the Democratic Party is planning to introduce a series of new regulations targeting Artificial Intelligence systems and data centers after taking control of the U.S Congress in January 2027.

Interbank USD/VND declined by a further 30 dong on Friday to 25.590, its lowest level since April 2025. Over the past week, the exchange rate fell by more than 200 dong and has declined by 2,72% since the beginning of 2026.

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