USD exchange rate today 9/9/2024: USD exchange rate forecast to decrease this week

Forecast of USD trend this week

The USD Index (DXY), which measures the greenback's performance against a basket of six major currencies, stood at 101.19.

- The US dollar index DXY fell after the US jobs report missed expectations.

- US bond yields have recovered somewhat after falling.

- Investors are wondering how much the US Federal Reserve (Fed) will cut interest rates, 25 or 50 basis points.

- US Consumer Price Index (CPI) data will be released next week, ahead of the Federal Open Market Committee (FOMC) meeting on September 18, which could influence the Fed's interest rate decision.

- Last week, the DXY index rose to near the important level of 102 and then fell below 101.

- The market is increasingly expecting the Fed to cut interest rates, but the extent of the cut will depend on upcoming economic data, especially inflation data.

- There are concerns that the US economy is slowing down due to recent inconsistent economic data.

- CME Group's FedWatch tool shows a 73% chance the Federal Reserve will cut interest rates by 0.25% in September, and a 27% chance of a 0.50% cut.

- As the Fed is expected to cut interest rates in September, markets will start to focus on assessing the US economic situation to predict future interest rate decisions.

- Currently, investors predict a total rate cut of 1% by the end of the year.

- Although fears of a recession have eased, upcoming economic data remains important and could influence the Fed's decisions on monetary policy.

Domestic USD exchange rate today

In the domestic market, at the beginning of the trading session on September 9, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 24,202 VND.

* The reference exchange rate at the State Bank's transaction office has slightly decreased, currently at: 23,400 VND - 25,362 VND.

USD exchange rates at commercial banks are as follows:

* The EUR exchange rate at the State Bank's buying and selling exchange center increased slightly, currently at: 25,547 VND - 28,237 VND.

EUR exchange rates at commercial banks are as follows:

* The buying and selling rates of Japanese Yen at the State Bank of Vietnam remain unchanged, currently at: 160 VND - 177 VND.