Foreign exchange price on November 18, 2024: USD rises close to 107 points

DNVN - At the end of the trading week on November 18, 2024, the USD on the international market approached the 107-point threshold.

USD exchange rate on the world market

The Dollar Index (DXY), which measures the strength of the USD against six major currencies including EUR, JPY, GBP, CAD, SEK and CHF, reached 106.67, unchanged from November 17, 2024.

The DXY index continued to show strong growth over the past week. The DXY recorded a gain of 1.6% for the week, breaking through the important resistance level of 106 and peaking at 107.06 before closing at 106.68.

Recent data shows that inflation in the US has picked up. The consumer price index (CPI) rose 2.58% in October compared to the same month last year, up from 2.41% in September. Similarly, the core CPI rose 3.3%, up from 3.26% in the previous month.

Rising inflationary trends could slow the pace of Fed rate cuts, further supporting the growth of the DXY index.

With the break above 105.50, DXY has a positive outlook in the short term. While the resistance at 107 may provide temporary resistance, DXY is expected to correct to the 106-105.50 range in the coming weeks.

As long as the index remains above the 105.50-105 support zone, there is a high chance that DXY will surpass 107 and may reach 109 in the near future.

The yield on the 10-year US Treasury note has been hovering around 4.44% over the past week. The current resistance is at 4.50%, while the support zone is between 4.20% and 4.15%. If the yield stays above 4.15%, the short-term trend will be positive, with the possibility of breaking above 4.5% and reaching 4.85% and 4.9% in the near future.

In the event that yields fall below 4%, the outlook would turn negative, but this scenario is unlikely.

Domestic USD exchange rate

On November 18, 2024, the domestic USD continued to increase in value as investors adjusted their expectations about interest rate policy.

At the closing time on November 15, the State Bank listed the central exchange rate at 24,298 VND/USD. Meanwhile, commercial banks maintained the selling rate at 25,512 VND/USD.

Vietcombank listed the exchange rate unchanged from the morning session, at 25,160 - 25,512 VND/USD (buy - sell).

At BIDV , the USD exchange rate remained unchanged at 25,190 - 25,512 VND/USD compared to the previous session. Techcombank also did not change its listed price, at 25,135 - 25,512 VND/USD.

Eximbank continues to maintain the USD exchange rate at 23,740 - 25,512 VND/USD. ACB maintains the listed rate at 24,170 - 25,512 VND/USD, unchanged from the previous day.

In the free market, the USD/VND exchange rate is stable at 25,670 - 25,770 VND/USD.

The EUR exchange rate at the State Bank of Vietnam slightly decreased, with the buying and selling rates being 24,312 VND and 26,871 VND, respectively.

The Japanese Yen exchange rate also recorded a slight decrease, currently at 148 VND - 163 VND for buying and selling at the State Bank's Transaction Office.

Viet Anh (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-18-11-2024-usd-len-sat-nguong-107-diem/20241118094114586