On the morning of May 21.5, the USD price at commercial banks recorded an upward week. For example, Eximbank bought 23.240 dong, sold 23.620 dong, up 10 dong compared to last week. Similarly, Vietcombank increased by 20 dong in both directions, bringing the buying price to 23.290 dong and selling to 23.660 dong...
On the contrary, the euro price ended the week down like Eximbank decreased by 313 - 322 dong, bringing the buying price down to 24.936 dong and selling price down to 25.615.
The price of USD has an upward week
The international USD price dropped slightly at the end of the week when the USD-Index dropped to 103,21 points. Compared to the end of last week, the USD-Index increased by 0,53 points. The dollar remains near a two-month high on strong US labor data and optimism that a default in the world's largest economy can be avoided. The number of claims announced on May 2 showed that the labor market is still tight with the number of Americans filing new applications for unemployment benefits falling more than expected. This makes many people think that it is possible that the US Federal Reserve (Fed) will maintain a tight monetary policy for a longer time.
Several Fed officials this week also expressed concern that US inflation is not cooling fast enough to allow the central bank to pause its rate hike cycle in June. Even so, in remarks at a At a monetary conference in Washington, D.C., Fed Chairman Jerome Powell said trouble in the banking sector could help policymakers not need to raise interest rates too high to control inflation. However, he noted that the crisis of Silicon Valley Bank and other regional banks could affect the economy.
For now, financial markets are predicting that the Fed will pause rate hikes at its June meeting. However, investor sentiment is also very volatile, as Fed officials are still weighing the impact. policy on inflation. At its meeting in early May, the Fed raised the benchmark interest rate to a range of 6 - 5%, from near zero more than 5 years ago...
