Market Highlight 13.03.2026

The U.S Department of Commerce said on Thursday that the trade deficit narrowed in January 2026, with both imports and exports shaped by the Trump Administration’s rapidly shifting trade policy. U.S imports fell 0,7% from the prior month while exports rose 5,5%, bringing the deficit to USD 54,5 billion - down 25% from December. The surge in exports was driven mainly by a marked increase in gold sales to overseas buyers, while the decline in imports was largely due to pharmaceuticals. Reducing America’s long-running trade deficit has been a cornerstone of President Donald Trump’s economic vision for decades, and has been a key motivation behind the wave of tariffs he has announced since returning to the White House last year. After a deficit of USD 572 billion in the first half of 2025, the U.S deficit in the second half of the year narrowed to USD 339 billion.

The USD strengthened against the EUR for a third consecutive session, moving closer to its year-to-date high as a sharp rise in energy prices increased risks for Europe’s import-dependent economies. Oil prices jumped after attacks were reported on oil facilities and transport routes across the Middle East. The world’s largest energy importers have seen their currencies weaken sharply against the USD since the Iran war began. India’s rupee and the Japanese yen have both fallen by more than 1,5%, while the euro and the South Korean won have declined by 2% and 3%, respectively.

The USD/VND interbank exchange rate traded mainly within the 26.260 - 26.280 range yesterday and closed near 26.280. The State Bank of Vietnam announced an effective ceiling rate of 26.314 at the start of Thursday, up by around VND 3 from the previous day.

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