Market Highlight 14.08.2026

U.S factory-gate inflation slowed more than expected in July as energy and food prices declined. According to data released by the Bureau of Labor Statistics on Thursday, the Producer Price Index (PPI) rose 4,7% from the same period in 2025, after increasing 5,5% in June. Excluding food and energy, producer prices increased 4,2% YoY and 0,2% from June. The PPI report followed consumer price data showing that inflation was cooling, reinforcing signs that the energy shock caused by the Middle East war is continuing to fade. The result gives the U.S Central Bank more time to assess the balance between persistent inflationary pressure and the recent slowdown in hiring activity. Data released on Thursday showed that energy prices fell 3,1% from June, marking the second consecutive monthly decline, while food prices recorded their sharpest drop since the beginning of the year. At the same time, the report also showed that another source of price pressure has continued to emerge this year: Data Centers. The cost of electronic components and accessories in the U.S rose by nearly a record 28% in July from a year earlier. Prices of computers and computer equipment also increased by a record 9,8% YoY.

The USD Index edged lower yesterday as market expectations for a FED rate hike in September continued to weaken following the two U.S July inflation reports. The probability has fallen to only around 35%, compared with 95% at the end of July and 55% one week ago. July retail sales data due tonight will be the next test of the strength of the U.S economy.

Domestically, interbank USD/VND unexpectedly rebounded sharply toward the end of yesterday’s session to 26.080. Earlier in the morning, the exchange rate had fallen to 26.025, its lowest level since late February.

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