Euro exchange rate today May 8: Maintained around 1.1370

World EUR/USD exchange rate today May 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 urgently looking for ways to deal with the new tax policy from the US. Although President Donald Trump has postponed the additional tax for another 90 days, the EU still leaves open the possibility of imposing reciprocal taxes of up to 100 billion euros if the 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 data front, EU retail sales fell 0.1% in March, against expectations of 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 level of 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 non-farm payrolls data showed the job market remained solid, reducing the likelihood of the Fed easing policy immediately. Contrary to this view, President Trump has continued to call on the Fed – and Mr. Powell in particular – to lower interest rates to support growth, even threatening to fire him for not taking action despite falling energy and food costs.

In addition to the Fed, another major factor affecting the USD is the progress of 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 S&P 500 futures.

Domestic Euro exchange rate today May 8, 2025

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

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