The DXY index, which measures the strength of the USD against six major currencies, rose to near 99.50.
Newly released data shows the negative impact of the tariffs President Donald Trump announced on April 2, dubbed “Liberation Day.” Specifically, US GDP in the first quarter fell 0.3% compared to the same period last year.
The main reason was a surge in imports, as US businesses rushed to import goods before the new tariffs were imposed. This is the first time since the first quarter of 2022 that the US economy has recorded negative growth. The initial forecast was for growth of 0.4%, much lower than the 2.4% of the previous quarter.
In addition, ADP employment data for April was also disappointing. Only 62,000 new workers were hired in the private sector, significantly lower than the expectation of 108,000 and the previous revision of 147,000 (down from 155,000).
Inflation data also showed a downward trend. The core personal consumption expenditures (PCE) price index fell to 2.6% year-on-year in March, down from 2.8% in February, in line with market expectations.
A combination of factors such as weak economic growth, a slowing labor market and easing inflationary pressures are raising expectations that the Federal Reserve will cut interest rates soon, possibly as early as its May meeting. According to CME's FedWatch tool, traders are almost certain that the Fed will keep the current interest rate at 4.25% - 4.50% at the next meeting.
Euro (EUR) exchange rate at banks today in the buying direction, SHB continues to lead the market with the highest level of 29,466 VND in both cash and transfer forms.
VIB holds the lowest position when buying euros at only 27,196 VND (cash) and 27,296 VND (transfer).
On the selling side, OCB is the bank with the highest Euro selling price, with the cash selling price of 30,628 VND and transfer price of 30,528 VND.
VIB continues to be the bank with the lowest selling price at VND 28,279, maintaining a competitive trend thanks to attractive exchange rates.
Source: https://baonghean.vn/ty-gia-euro-hom-nay-1-5-2025-tiep-tuc-giam-nhe-10296312.html
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