Will the USD continue to trade sideways?

Foreign exchange rates, USD/VND exchange rate today, September 30th: The US Dollar Index (DXY) is currently at the important support level of 100, and is highly likely to continue fluctuating sideways for some time.

Foreign exchange rate update table - Vietcombank USD exchange rate today

1. VCB - Updated: 30/09/2024 07:28 - Time of source website update
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
AUSTRALIAN DOLLAR	AUD	16,472.11	16,638.50	17,173.17
CANADIAN DOLLAR	CAD	17,770.15	17,949.65	18,526.45
SWISS FRANCE	CHF	28,333.92	28,620.12	29,539.81
YUAN RENMINBI	CNY	3,435.05	3,469.75	3,581.78
DANISH KRONE	DKK	But	3,616.14	3,754.81
EURO	CZ	26,762.69	27,033.02	28,231.58
POUND STERLING	GBP	32,081.68	32,405.74	33,447.08
HONG KONG DOLLAR	HKD	3,080.79	3,111.91	3,211.91
INDIAN RUPEE	INR	But	293.17	304.90
YEN	rush	165.21	166.88	174.83
Korean Won	KRW	16.14	17.94	19.46
KUWAITI DINAR	KWD	But	80,449.34	83,669.92
MALAYSIAN RINGGIT	MYR	But	5,900.25	6,029.25
NORWEGIAN KRONER	NOK	But	2,282.53	2,379.56
RUSSIAN RUBLE	RUB	But	253.11	280.21
SAUDI RIAL	SAR	But	6,537.35	6,799.06
SWEDISH KRONA	SEK	But	2,377.23	2,478.29
SINGAPORE DOLLAR	SGD	18,675.83	18,864.48	19,470.68
THAILAND BAHT	THB	669.61	744.01	772.54
US DOLLAR	cau	24,390.00	24,420.00	24,760.00

Exchange rate movements in the domestic market

On the domestic market, according to TG&VN 's report at 8:00 AM on September 30th, the State Bank of Vietnam announced the central exchange rate of the Vietnamese Dong against the US Dollar at 24,105 VND, a decrease of 29 VND.

The reference USD exchange rate listed at the State Bank of Vietnam's Exchange Department is: 23,400 VND - 25,260 VND.

The USD exchange rates at commercial banks for buying and selling are as follows:

Vietcombank: 24,430 VND - 24,800 VND.

Vietinbank : 24,300 VND - 24,800 VND.

Foreign exchange rates, USD/VND exchange rate today, September 30th: Will the USD continue to remain stable? (Source: Finanzmarktwelt)

Exchange rate movements in the global market.

In the US market, the US Dollar Index (DXY), which measures the fluctuations of the US dollar against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), is at 100.42.

The DXY index fluctuated within a narrow range throughout the past week, trading between 100.16 and 101.23. The short-term outlook remains unclear. However, the release of the US Personal Consumption Expenditures (PCE) data at the end of last week could cause the index to continue its negative trend. US 10-year Treasury yields fell at the end of last week following the PCE data release.

The US PCE index reached 2.37% (year-on-year) in September, down from 2.65% the previous month. PCE is a measure of inflation used by the Federal Reserve (Fed). Therefore, a continued decline in PCE would support the Fed's plan to cut interest rates in the near future.

This week, two key data releases will be closely watched. The first is the Manufacturing Purchasing Managers' Index (PMI), which will be released on October 1st. The index currently stands at 47.2 in August. A lower September PMI would raise concerns about an economic slowdown, which would be detrimental to the US dollar.

Employment data will be released on October 4th. If the unemployment rate rises in September, from just 4.2% in August, this would create a negative outlook for the US dollar.

The DXY index is currently at a crucial support level of 100. As long as the index remains above the psychological 100 level, it is highly likely to continue trading sideways for some time. The DXY index could then trade within a narrow range of 100-101 or a wider range of 100-102. A breakout on either side of the 100-102 range will determine the next direction.

If this index falls below 100, a downtrend will emerge. This could drag the DXY index down to 98. Conversely, if there is a strong breakout above 102, the downward pressure will be relieved and the index could rise to 104.

The yield on 10-year US Treasury bonds is struggling to maintain its upward momentum above 3.8%. The current resistance level is 3.83%. If yields remain below this level, the next scenario would be a drop to 3.6%. A break below the nearest support level at 3.72% could trigger this decline.

The EUR/USD index continues to trade within the 1.10-1.12 range. The currency broke above 1.12 last week but then retreated. Support levels are at 1.1050 and 1.10. The trend remains positive for the index if it breaks above 1.12. Such a breakout could push the EUR higher to 1.13-1.14.

However, if the EUR falls below 1.10, this would establish a downtrend with the possibility of a drop to 1.09-1.08.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-309-usd-tiep-tuc-di-ngang-288142.html