USD, EUR, CAD, Japanese Yen, British Pound, exchange rate... Could the USD fall this week?

Foreign exchange rates today, October 23: USD, EUR, CAD, Japanese Yen, British Pound, exchange rates... This week's trend is that the USD may decrease, while the Euro may increase.

Tỷ giá ngoại tệ hôm nay 23/10: Tỷ giá USD, EUR, CAD, Yen Nhật, Bảng Anh, tỷ giá hối đoái... Điều kiện tài chính thắt chặt, đồng bạc xanh giảm nhẹ

Foreign exchange rates today, October 23: USD, EUR, CAD, Japanese Yen, British Pound, exchange rates... Expectation that the Fed will keep interest rates unchanged, the greenback decreased very slightly. (Source: Freepik)

The central foreign exchange rate between Vietnamese Dong (VND) and US Dollar (USD) on the morning of October 23 was announced by the State Bank at 24,090 VND/USD, down 20 VND/USD compared to the weekend (October 20).

Domestic market: At commercial banks on the morning of October 23, specifically as follows:

Vietcombank :

USD exchange rate for buying is 24,330 VND/USD, selling is 24,700 VND/USD.

EUR exchange rate for buying is 25,282 VND/EUR and selling is 226,670 VND/EUR.

BIDV Bank:

USD exchange rate for buying is 24,380 VND/USD, selling is 24,680 VND/USD.

EUR exchange rate for buying is 25,494 VND/EUR; selling is 26,685 VND/EUR.

STT	Currency code	Currency name	Bank rate commerce Buy	Bank rate commerce Sell	*State Bank exchange rate Apply for import and export from October 19-25
1	EUR	Euro	25,282.40	26,670.15	25,486.34
2	JPY	Japanese Yen	159.10	168.41	161.00
3	GBP	British Pound	29,020.50	30,255.74	29,353.75
4	AUD	Australian Dollar	15,114.95	15,758.30	15,363.61
5	CAD	Canadian Dollar	17,444.76	18,187.29	17,670.87
6	RUB	Russian Ruble	242.72	268.71	247.27
7	KRW	Korean Won	15.67	18.69	17.83
8	INR	Indian Rupee	294.16	305.94	289.52
9	HKD	Hong Kong Dollar (China)	3,056.53	3,186.62	3,079.95
10	CNY	Chinese Yuan China	3,283.67	3,423.95	3,298.65

(State Bank and commercial banks)

Exchange rate developments in the world market

In the US market, the US Dollar Index (DXY) measuring the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) decreased slightly, standing at 106.16. Down 0.09 compared to October 20 (106.25).

Forecast for the greenback exchange rate trend this week, likely to fall. Eur may rise.

Specifically, the DXY index turned down last week, in the context of the continued increase in US Treasury bond yields. The 10-year US Treasury bond yield hit 5% last week. In a recent speech, US Federal Reserve Chairman Jerome Powell reiterated that inflation in the US remains high. Despite the forecast made last month, the Fed is likely to raise interest rates by another 25 basis points this year. However, at the meeting taking place on November 1, the market still expects the Fed to keep interest rates unchanged.

The DXY Index has been stuck in a narrow range between 105.97-106.67 last week. The current key support level for the index is at 106. If the DXY Index can hold well above 106, the short-term outlook will be bullish, possibly even reaching 107-108.

On the other hand, if the index falls below 106, it may continue to fall to the 105.50-105 zone. The risk of a trend reversal will only appear if the DXY index slides below 105.

Elsewhere, the euro rallied last week. It managed to hold well above 1.05. However, the short-term outlook has not turned bullish yet. The key resistance levels for the currency are 1.0650-1.07. A strong move above 1.07 is needed to push the currency to 1.08 and beyond.

Conversely, if the Euro remains below 1.07, it will continue this trend down to 1.05 and even 1.04 in the short term.

The European Central Bank (ECB) monetary policy meeting will take place on November 26. The market is closely watching this event to see if the ECB will pause its interest rate hikes.

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