Morning of November 7: Central exchange rate increased for the fourth consecutive session

According to a survey by thoibaonganhang.vn, as of 9am this morning (November 7), the central exchange rate increased by 3 VND compared to the previous session. The USD buying and selling prices at all commercial banks were adjusted up and down with a common amplitude of 3-17 VND compared to the previous session.

The greenback weakened against major currencies as investors reacted to signs of cooling in the US labor market amid a lack of official data due to the government shutdown.

The US dollar index, which measures the greenback's strength against a basket of six major currencies, fell 0.5% to 99.674, as markets increased expectations that the US Federal Reserve would cut interest rates at its policy meeting scheduled for December 10.

With the nonfarm payrolls report delayed, investors turned their attention to private data showing government and retail employment fell in October. The US Challenger report also recorded a spike in layoff announcements, partly reflecting the impact of cost cutting and the increased use of artificial intelligence in businesses.

“These figures suggest that the US labor market is cooling,” Westpac said.

Still, Chicago Fed President Austan Goolsbee noted that the lack of inflation data during the government shutdown made him “more cautious about rate cuts,” emphasizing the need for more careful assessment when information is still unclear.

Fed funds futures now reflect a 70% chance the Fed will cut interest rates at its upcoming meeting, up from 62% the day before, according to CME Group's FedWatch tool.

The yen fell 0.05 percent to 153.14 yen per dollar after Japan reported household spending rose 1.8 percent year-on-year in September, below forecasts for a 2.5 percent gain.

The Australian dollar fell 0.08% to $0.6475.

The New Zealand dollar fell 0.11% to $0.5628.

The offshore yuan was little changed, currently trading at 7.1233 yuan to the dollar.

Elsewhere, the pound fell 0.08% to $1.3127 after the Bank of England (BoE) held interest rates at 4.0% by a 5-4 vote, with Governor Andrew Bailey giving the deciding vote. This was in line with market and expert forecasts. Notably, there are signs that the BoE may cut interest rates at its meeting in mid-December.

The euro is currently trading at $1.1539, down 0.07%.

Source: https://thoibaonganhang.vn/sang-711-ty-gia-trung-tam-tang-phien-thu-tu-lien-tiep-173223.html