Euro exchange rate today May 8: Maintained around 1.1370

EUR/USD world exchange rate today 5/8/2025

During the European trading session, the EUR/USD exchange rate was at 1.1365 as the market awaited the monetary policy decision from the US Federal Reserve (Fed) at 18:00 (US time).

The European Union (EU) is also scrambling to find a way to deal with the new tax policy from the US. Although President Donald Trump has postponed the additional tariffs for another 90 days, the EU is still open to the possibility of imposing reciprocal tariffs of up to 100 billion euros if negotiations do not achieve positive results. However, according to Trade Commissioner Maros Sefcovic, the EU's top priority is still to find a cooperative solution with the US.

On the economic front, EU retail sales fell 0.1% in March, beating expectations for a flat reading. Year-on-year, sales rose 1.5%, below forecasts and revised earlier, reflecting signs of slowing consumer spending.

Ahead of the Fed meeting, the USD continued to fluctuate slightly around the DXY index at 99.55. CME FedWatch shows that the market is almost certain that the Fed will keep interest rates unchanged in the range of 4.25%–4.50%. Investors will focus on Chairman Jerome Powell's speech for signals on when the Fed might change policy.

Although the US economy shrank 0.3% in the first quarter, that was largely due to a surge in imports as businesses stockpiled goods to avoid new tariffs. At the same time, April’s non-farm payrolls data showed the job market remained solid, reducing the likelihood of immediate Fed easing. Contrary to this view, President Trump has continued to call on the Fed—and Powell in particular—to lower interest rates to support growth, even threatening to fire him for not taking action despite falling food and energy costs.

In addition to the Fed, another major factor affecting the USD is the progress of the US-China trade negotiations. US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer confirmed that they will meet with the Chinese delegation in Geneva to discuss. This move is considered by investors as a positive signal, helping to support the stock market and the S&P 500 index futures.

Domestic Euro exchange rate today 5/8/2025

The Euro exchange rate at the State Bank's buying and selling exchange center has slightly decreased, currently at: 26,836 VND - 29,661 VND.

EUR exchange rates at commercial banks are as follows: