USD exchange rate today 9/30/2024: USD exchange rate prediction for the new week
USD exchange rate today 8/30/2024: The central exchange rate of Vietnamese Dong to USD at the State Bank is announced at 24,118 VND. In the US market, the USD index (DXY) is currently at 100.42 points.
Forecast of USD trend this week
The USD Index (DXY), a measure of the US dollar's volatility against six major currencies, was at 100.42.
The DXY has been trading in a narrow range between 100.16 and 101.23 over the past week, with the short-term outlook still unclear. New data on the US Personal Consumption Expenditures (PCE) Price Index, released recently, could send the DXY into a downtrend.
The yield on the 10-year US Treasury note fell after the PCE data was released.
The US PCE index, a key inflation indicator of the Federal Reserve (Fed), fell to 2.37% in September, down from 2.65% in the previous month. The decline in the PCE index could support the Fed's plan to cut interest rates in the future.
This week, two important data sets to watch are the manufacturing Purchasing Managers' Index (PMI) and employment data.
The PMI, currently at 47.2, will be updated on October 1. A lower September PMI could suggest a slowdown in the economy, negatively impacting the value of the dollar.
Jobs data, due on October 4, could weigh on the dollar if the unemployment rate rises from August's 4.2%.
The DXY index is at the important support level of 100. If it holds above this level, the index is likely to remain flat and fluctuate between 100 and 101 or 102.
A move outside the 100-102 range would determine the next trend of the DXY index. A drop below 100 could see the index fall to 98, while a breakout above 102 could push the index to 104.
The 10-year US Treasury yield is struggling to break above 3.8%. If the yield fails to break above resistance at 3.83%, it could fall to 3.6%. A break below support at 3.72% could trigger a decline.
EUR/USD is stable between 1.10 and 1.12.
Last week, the rate rose above 1.12 but failed to hold and fell.
Important support levels are 1.1050 and 1.10. If the rate breaks above 1.12, the trend will continue to be positive, possibly reaching 1.13 or 1.14.
Conversely, if the rate falls below 1.10, a downtrend could begin, with a possible drop to 1.09 or even 1.08.
Domestic USD exchange rate today
The USD exchange rate at commercial banks is currently between 23,400 and 25,273 VND/USD.
The State Bank of Vietnam also listed the buying and selling rates for USD from 23,400 to 25,273 VND/USD.
Vietcombank is trading USD at a buying price of 24,390 VND/USD and a selling price of 24,760 VND/USD.
BIDV listed the USD buying price at 24,430 VND/USD and the selling price at 24,770 VND/USD, unchanged from the previous session.
Vietinbank's USD buying rate is 24,280 VND/USD and selling rate is 24,780 VND/USD, unchanged from the previous session.
Eximbank listed the USD buying price at 24,410 VND/USD and the selling price at 24,770 VND/USD, unchanged from the previous session.
In the free market, the USD exchange rate in Hanoi decreased sharply, with the buying price being 25,051 VND/USD and the selling price being 25,171 VND/USD, down 151 VND for buying and 141 VND for selling compared to the previous session.
