Market Highlight 10.08.2026

A report released by the U.S Department of Labor on Friday night showed that the world’s largest economy lost 23.000 jobs in July, far below the forecast for an increase of 83.000. Revisions to employment data for May and June showed that the economy created 103.000 fewer jobs over those two months than previously reported. The unexpected decline is likely to increase concerns over the underlying strength of the U.S economy at a time when it is also facing elevated inflation. An increasing number of Americans exited the labor force entirely, causing the unemployment rate to fall to 4,1% from 4,2% in June.

High inflation may remain the Federal Reserve’s main concern. However, the July report, together with earlier signs of weakness in the U.S labor market, could prompt FED policymakers to think carefully before proceeding with another rate hike as previously expected at the upcoming September meeting. Before the next meeting, the FED will receive additional data for consideration, including August labor market figures and inflation data for July and August. This week’s U.S inflation reports, including CPI and PPI, will therefore play a very important role for the FED. The USD Index fell by nearly 0,4% on Friday night after the U.S labor market data reduced market expectations of a FED rate hike in September to only around 55%. The results also opened up the possibility that the timing of the next FED rate hike could be delayed until October or December rather than September. Global gold prices surged by 2,4% on Friday to 4.371 USD/ounce.

Interbank USD/VND fell by around VND 40 last Friday and declined by more than VND 100 over the week. The effective daily ceiling continued to rise sharply by another VND 32 on the final trading day of last week, lifting it to 26.736.

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