USD Index
On November 9, in the US market, the USD Index (DXY) measuring the fluctuations of the greenback against 6 major currencies decreased by 0.13%, standing at 99.60 points.
The US dollar continues to depreciate against major currencies such as the Swiss Euro and French, as investors try to balance the stance of the US Federal Reserve (Fed) and persistent concerns about the US economy.
US Treasury yields fell slightly as the US government continued to close. The US Department of Labor did not release the October jobs report as planned, due to the impact of this shutdown while this was data closely monitored by the market.
Investors also assessed the impact of China's weak data when exports in October suddenly decreased the most since February, after many months of businesses stepping up deliveries to the US to avoid tariffs. This development raises concerns about the global economic outlook.
The greenback previously had a streak of gains for 5 consecutive sessions after Fed Chairman Jerome Powell warned of the risk of easing too early, but fell sharply on Thursday due to weak labor data.
Mr. Mohit Kumar - an economist at Jefferies - commented: "The December Fed meeting is like a game of launching coins - completely dependent on the labor market situation. Therefore, the market is reacting excessively to all signs related to employment". He also noted the lack of data due to the US government's policy of remaining closed.
"We have forecasted a potential recovery in the short term for the US dollar and still believe that the rally will return as US economic growth momentum remains strong while market sentiment with the USD remains weak," said Andrea Cicione, an analyst at TS Lombard, a leading investor report.
VND vs USD exchange rate
In the domestic market, at the beginning of the trading session on November 9, the State Bank announced that the central exchange rate of the Vietnamese Dong is currently at 25,103 VND.
The reference USD exchange rate at the State Bank's Buying - Selling Transaction Office is currently at: VND 23,849 - VND 26,359.
At commercial banks, USD prices increased at most brands.
Banks listed USD selling prices at VND 26,358/USD.
Bank with the highest cash and bank transfer price: ABBank (26,266 VND/USD).
The difference between buying and selling prices at banks ranges from 92-394 VND/USD.
