USD Index
On November 27, in the US market, the USD Index (DXY) measuring the fluctuations of the greenback against 6 major currencies continued to decrease by 0.24%, anchored at 99.57 points.
The USD's decline began yesterday when the US released a series of inconsistent economic data, even data that was delayed, thereby reinforcing expectations that the Fed will cut interest rates next month. The DXY index lost 0.5% after the report on manufacturing prices and retail sales in September, while last week the index increased by nearly 1%.
According to Mr. Juan Perez - Trading Director at Monex USA, newly released data shows signs of inflation at the end of the third quarter: retail sales increased below expectations and production prices only increased slightly. Retail sales in September increased by 0.2% (lower than the forecast of 0.4% and slowed down compared to the increase of 0.6% in August. Production prices increased by 0.3%, as forecast, after decreasing by 0.1% last month; core prices increased slightly by 0.1%, lower than expected by 0.2%.
US consumer confidence in November fell sharply to 88.7 points from the adjusted 95.5 level in October, weaker than the forecast of 93.4 points, further putting pressure on the USD.
The data comes as many Fed officials have recently expressed their complacency. Earlier in the week, Fed Governor Christopher Waller said the labor market was weak enough for the Fed to consider cutting another 0.25 percentage points in December, although the final decision still depends on economic data delayed by the government shutdown. Previously, New York Fed President John Williams also gave a similar message.
VND vs USD exchange rate
In the domestic market, at the beginning of the trading session on November 27, the State Bank announced that Vietnam's central exchange rate was moving sideways, currently at VND 25,146.
The reference USD exchange rate at the State Bank's Buying - Selling Transaction Office is currently at: VND 23,939 - VND 26,353.
At commercial banks, USD prices have mostly increased sharply compared to the previous session.
Most banks listed USD selling prices at VND 26,403/USD.
Bank with the highest cash and transfer price: HSBC (26,257 VND/USD).
The difference between buying and selling prices at banks fluctuates within a large range of 146-388 VND/USD.
