Market Highlight 15.05.2026

U.S retail sales rose for a third consecutive month in April, pointing to continued resilience in consumer spending despite sharply higher gasoline prices. According to data released by the Commerce Department on Thursday night, retail sales increased 0,5% last month, following a 1,6% gain in March. Nine out of 13 categories posted growth, with particularly strong performance in sporting goods stores, online retail, and electronics stores. Meanwhile, sales at gasoline stations rose 2,8% as the war in Iran pushed gasoline prices to their highest level since 2022. The strong performance of the U.S stock market is helping to support spending at a time when consumers are struggling with rising fuel, transportation, and food costs.

The USD Index rose 0,3% on Thursday for a fourth consecutive session after economic data reinforced expectations that the FED is unlikely to cut rates this year, while the market awaited the outcome of negotiations between the U.S and China. Expectations of a FED rate hike in 2027, or even as early as late 2026, are gradually increasing as oil prices remain elevated while the Strait of Hormuz stays closed, alongside recent comments from FED officials expressing concern about inflation. Kansas City FED President Jeffrey Schmid said on Thursday that inflation is the biggest risk facing the U.S economy. Meanwhile, the CNY continued to extend its gains as the two-day U.S - China summit was taking place in Beijing. Since the start of 2026, the CNY has appreciated nearly 3% against the USD, after having risen 4,2% in 2025, and is now moving toward the $6,75 level in the first half of this year.

Domestically, interbank USD/VND traded steadily around 26.350 on Thursday, with the intraday high recorded at 26.355. The effective daily ceiling was raised by a further VND 3 to 26.382.

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