USD exchange rate today 5/6/2025: Strong increase due to increased PMI index

World USD exchange rate on May 6, 2025

Taiwan’s central bank governor Yang Chin-long warned analysts against making irresponsible speculations about the foreign exchange market at a press conference on Monday, saying such comments could destabilize the market and negatively impact the economy. The call comes amid pressure on markets from global developments.

In the United States, President Donald Trump said his administration could sign trade deals with several countries as early as this week, providing hope to trading partners looking to avoid higher tariffs on U.S. imports.

At the same time, the European Union is considering banning gas imports from Russia by the end of 2027, aiming to reduce energy dependence on Moscow.

In Japan, Finance Minister Katsunobu Kato affirmed that the country will not use its holdings of US government bonds as a tool in trade negotiations with the US, an adjustment from previous statements.

Tensions in the Middle East have also increased, as Israel launched a large-scale ground offensive against the Gaza Strip, signaling its desire to take complete control of the territory.

Amid global political and trade turmoil, the US dollar is weakening. Some traders believe that the greenback is no longer the safe haven it once was.

On the economic front, the S&P Global Services PMI fell to 50.8 in April, below expectations of 51.4. However, a report from the US Institute for Supply Management (ISM) was positive: the services PMI unexpectedly rose to 51.6, higher than both the previous month and the forecast. New orders and employment in the services sector also increased, indicating a clear recovery.

The positive ISM report helped the US stock market to show signs of improvement, although the Nasdaq index still fell slightly. In Europe, Germany's DAX index is expected to increase about 1% on the day.

The CME FedWatch tool puts the probability of a rate cut at the Fed's May meeting at just 3.2 percent, while the probability of a rate cut in June is around 31.8 percent. The benchmark 10-year Treasury note is currently trading around 4.35 percent, suggesting traders are gradually discounting the possibility of a rate cut in the near term.

Domestic USD exchange rate today

In the domestic market, at the beginning of the trading session on May 6, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD at 24,944 VND.

* The reference exchange rate at the State Bank's transaction office for buying and selling remains unchanged, currently at: 23,747 VND - 26,141 VND.

USD exchange rates at commercial banks are as follows:

EUR exchange rates at commercial banks are as follows:

* The Japanese Yen exchange rate at the State Bank's exchange office for buying and selling has slightly decreased, currently at: 164 VND - 181 VND.