Review of economic information before April 30 holiday

Economic news review

Domestic news

In the foreign exchange market session on April 29, the State Bank listed the central exchange rate at 24,956 VND/USD, down slightly by 4 VND compared to the first session of the week.

The USD buying price is listed at 23,759 VND/USD, 50 VND higher than the floor rate; while the USD selling price is listed at 26,153 VND/USD, 50 VND lower than the ceiling rate.

On the interbank market, the dollar-dong exchange rate closed at 26,002 VND/USD, unchanged from the session on April 28.

The dollar-dong exchange rate on the free market increased by 30 VND in both buying and selling directions, trading at 26,420 VND/USD and 26,520 VND/USD.

On April 29, the interbank money market, the average interbank VND interest rate increased sharply by 1.50 percentage points for the overnight term and only slightly increased by 0.01 - 0.03 percentage points for the 2-week and 1-month terms, and decreased by 0.08 percentage points for the 1-week term compared to the first session of the week, specifically: overnight 4.00%; 1 week 4.20%; 2 weeks 4.37% and 1 month 4.54%. The average interbank USD interest rate increased by 0.01 - 0.04 percentage points for all terms, trading at: overnight 4.30%; 1 week 4.37%; 2 weeks 4.42%, 1 month 4.48%.

Government bond yields in the secondary market fluctuated slightly in opposite directions, closing at: 3-year 2.17%; 5-year 2.42%; 7-year 2.77%; 10-year 3.07%; 15-year 3.21%.

In the open market operations before the holiday, on the mortgage channel, the State Bank offered VND10,000 billion for a 7-day term, VND10,000 billion for a 14-day term, VND5,000 billion for a 35-day term and VND3,000 billion for a 91-day term, with interest rates all at 4.0%. There were VND2,619.37 billion in winning bids for the 7-day and 35-day terms; there was no winning bid volume for the remaining terms. There were VND7,652.34 billion maturing. The State Bank did not offer SBV bills.

Thus, the State Bank of Vietnam net withdrew VND5,032.97 billion from the market through open market operations yesterday. There were VND70,435.24 billion circulating in the mortgage channel.

On the bond market on April 29, the State Treasury successfully bid for VND10,085 billion/VND12,000 billion of government bonds called for bid (winning rate reached 84%). Of which, the 5-year term mobilized the entire VND5,000 billion called for bid. The 10-year term mobilized VND5,025 billion/VND6,000 billion called for bid and the 15-year term mobilized VND60 billion/VND500 billion called for bid. The 30-year term called for VND500 billion but there was no winning volume. The winning interest rate for the 5-year term was 2.31% (+0.16 percentage points compared to the previous auction), the 10-year was 3.05% (+0.05 percentage points) and the 15-year was 3.10% (+0.02 percentage points).

On the stock market session of April 29, the indices continued to increase and decrease around the reference level. At the end of the session, VN-Index decreased slightly by 0.50 points (-0.04%) to 1,226.30 points; HNX-Index increased by 0.49 points (+0.23%) to 211.94 points; UPCoM-Index added 0.17 points (+0.18%) to 92.42 points. Market liquidity continued to be low with a transaction value of over VND 16,600 billion. Foreign investors net sold slightly less than VND 272 billion on all 3 floors.

According to data from the Ministry of Finance , the estimated disbursement of public investment capital from the beginning of the year to April 30, 2025 is VND 128,512.9 billion, reaching 14.32% of the plan, reaching 15.56% of the plan assigned by the Prime Minister, lower than the disbursement rate in the same period in 2024 (16.64%), of which the national target program is VND 4,707.3 billion (reaching 21.43% of the plan assigned by the Prime Minister).

International News

The US Bureau of Labor Statistics said the country created 177 thousand new non-farm jobs in April, down from 183 thousand the previous month but still much higher than the forecast of 138 thousand. The US unemployment rate last month was 4.2%, unchanged from March's statistical results and also in line with the forecast.

Finally, average hourly earnings in the US increased slightly by 0.2% month-over-month in April, lower than the increase in March and also the forecast of 0.3% month-over-month.

This week, the market awaits information from the US Federal Reserve (Fed) meeting on May 6-7. The meeting results will be announced early on the morning of May 8, Vietnam time.

Last week, the market also welcomed the US core PCE index flat in March after increasing 0.5% in February, contrary to the forecast of a slight increase of 0.1%. Compared to the same period in 2024, the core PCE increased by about 2.6% compared to the same period in 2024, much lower than the increase of 3.0% recorded in February. However, the CME forecast tool still shows a 97% chance that the Fed will keep the policy rate unchanged at the current 4.25% - 4.50%, and only a 3% chance of cutting 0.25 basis points to 4.0% - 4.25%.

The Eurozone core CPI rose 2.7% year-on-year in April, up from 2.4% in March and above expectations of 2.5%, the European Union's statistical office Eurostat said. Meanwhile, the region's headline CPI rose 2.2% year-on-year in April, unchanged from March and against expectations of a slight decline to 2.1%.

The main reason for the high CPI still comes from the service group, when prices of this group increased by 3.9% compared to the same period last month, expanding compared to 3.5% in March. However, experts said that the increase in service prices was mainly due to seasonal factors with the Easter holiday, unlikely to cause negative impacts in the long term and highly unlikely to hinder the European Central Bank (ECB) in the process of lowering policy interest rates to support the economy.

Source: https://thoibaonganhang.vn/diem-lai-thong-tin-kinh-te-truoc-nghi-le-304-163671.html