Market Highlight 30.07.2026

The U.S Central Bank announced that it kept its benchmark interest rate unchanged at the meeting that concluded this morning, but noted that three members supported a rate hike. This shows that pressure is increasing within the FED itself to contain inflation, which has remained above the 2% target for the past 5 years. The FED kept its policy rate unchanged at 3,5% - 3,75%, but for the first time since 2016, three members dissented from the decision, with a 9-3 vote. At last month’s meeting, around half of members had said that a rate hike would be necessary by the end of this year. Data released two weeks ago showed that inflation had cooled, easing the pressure on the FED to raise interest rates at this week’s meeting. However, escalating conflict between the U.S and Iran pushed energy prices sharply higher again last week.

For U.S households, the message this time is that lower borrowing costs are unlikely to come soon. The FED’s benchmark rate has the most direct impact on short-term loans such as credit cards and auto loans. The 30-year mortgage rate in the U.S rose to 6,76% last week, the highest level in nearly a year. The 30-year Treasury yield also reached 5,228%, the highest level since 2007. The Dow Jones fell by more than 1.100 points last night, equivalent to 2,2%, after the FED concluded its July meeting. A U.S recession has not materialized; instead, price pressure has come from the Iran war and the boom in artificial intelligence investment. Two inflation reports will be released before the FED meets again on 15 - 16/9, when the market expects interest rates to be raised by another 0,25%.

Interbank USD/VND traded mainly around the 26.330 - 26.340 range yesterday before correcting sharply lower toward the end of the day to 26.320. The effective daily ceiling on Wednesday was kept unchanged from the previous day at 26.571.

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