Market Highlight 11.06.2026

U.S inflation continued to rise to a three-year high of 4,2% in May, driven by higher energy costs. However, the monthly pace of increase slowed compared with April, a sign that the sharp rise in energy prices may have peaked and is beginning to ease. The Labor Department said the energy index accounted for more than 60% of the monthly increase in consumer prices. Even so, higher energy prices often affect other sectors with a lag, while the boom in artificial intelligence investment is also creating supply-chain bottlenecks, which will add further upward pressure on prices. Overall, the U.S economy is now facing overlapping inflation shocks from tariffs, energy costs, and the AI boom. What makes this inflation episode harder to control than a year ago is that the drivers of rising prices have changed in nature. The tariff story has now given way to an energy crisis caused by the closure of the Strait of Hormuz. May inflation exceeded annual wage growth for a second consecutive month. This means household purchasing power is no longer keeping pace with rising prices for housing, food, and gasoline.

Inflation is becoming a major concern for Federal Reserve policymakers as they prepare for their first meeting next week under the leadership of new Chair Kevin Warsh. The debate will center on whether rates should be kept unchanged for longer, or whether rate hikes should now be considered. The market is currently pricing in October this year as the earliest possible timing for a FED rate hike.

Domestically, interbank USD/VND edged lower yesterday to around 26.320 as foreign-currency supply and demand in the market remained broadly balanced, and closed the day at 26.323.

Please contact the nearest Asia Commercial Joint Stock Bank's branch to receive information and consultancy if you are in need of making any foreign exchange and derivatives transactions.

Asia Commercial Joint Stock Bank assumes no responsibility or liability for any purpose of reference or using the information provided by this newsletter.

Directly contact us to receive market news and consultancy on foreign exchange products and derivatives:

- Financial Markets Division – Email: ktttc@acb.com.vn ; or

- Mr. Khanh Hoang (Financial Markets Senior Analyst) – Email: hoangnk@acb.com.vn