The US dollar tries to straighten

The USD index (DXY), which measures the performance of the greenback compared to a basket of six major currencies, was 100.04.

Forecast of the US dollar trend this week

The index Dxy had difficulty maintaining its upward dynamics for the second consecutive week.

Price evolution in recent weeks shows that the greenback is trying to straighten up. However, the data published last week failed to give an upward impulse to the greenback.

The Personal Consumer Expenditure Index (PCE) in the United States, an inflation indicator of the Federal Reserve, established 2.29 % in April. This figure is down compared to the 2.69 % of the previous month. Meanwhile, the unemployment rate in the United States remained unchanged at 4.2 %.

In addition, a report by the United States Ministry also showed last week that gross domestic product (GDP) fell 0.3 % in the first quarter, assigned by an increase in imports intended to buy goods before the Trump administration imposes customs duties on most goods. In addition, before tax imports also increased by 41.3 % in the first three months of the year.

However, the yield of US Treasury bills at 10 years old, currently at 4.31 %, increased sharply after the publication of employment data during the weekend.

This week, the Fed meeting will be an important event to follow. The market expects the Fed to maintain interest rates at 4.25-4.5 %. The markets await the press conference of the president of the Fed, Jerome Powell, to hear his comments on the customs tariffs and their impact on their future interest rate decisions.

The current resistance of the Dxy index is 100.60. The Dxy index could go up to 101.50 or 102 if it crosses the resistance of 100.60. But this is only a corrective rally in the general downward trend. The index ofx must cross the 102 bar in a decisive way to reverse the current downward trend and make the prospects bullish. It was not until this time that the upper dynamic around 104 and 106 will emerge.

The inability to exceed 102 will maintain the intact drop trend. This would drop the 96 96 index in the coming weeks.

On the other hand, the EUR/USD exchange rate is currently experiencing corrective drop. The index could drop to 1.12 or even 1,1150. But after this decline, the possibility that the euro reverses and continues its upward trend is very high. This rally would probably bring the part to the zone 1,16-1,18. This would also open the door to the EUR to possibly achieve the target of 1.20 in the medium term.

Last week, the yield of the US Treasury at 10 years old rebounded after a hollow of 4.12 %. The current yield support is 4.25-4.2 %. If the yields remain greater than 4.2 %, they are a good chance that they go up to 4.5-4.6 % in the coming weeks.

Conversely, if the yield of bonds at 10 years falls below 4.1 %, it will be under pressure again. It was not until this time that the risk of a fall towards the range of 3.9 to 3.8 % appears.

National dollar exchange rate American today

On the internal market, at the start of the May 5 negotiation session, the State Bank announced the central exchange rate of the Vietnamese Dong compared to the US dollar at 24,956 VND.

* The reference exchange rate rate at the State Bank Transaction Office for purchase and sale remains unchanged, currently at: 23,759 VND – 26 153 VND.

US dollar exchange rates in commercial banks are as follows:

* The EUR exchange rate at the exchange and sales exchange office of the State Bank remains unchanged, currently at: 27,033 VND – 29,879 VND.

EUR exchange rates in commercial banks are as follows:

* The Japanese Yen exchange rate at the State Bank exchange office for purchase and sale remains unchanged, currently at: 167 VND – 184 VND.

Minh Anh

*Please visit the section Economy To see the news and related articles.

Source : https://baodaknong.vn/ty-gia-usd-hom-nay-5-5-dong-usd-dang-no-luc-phuc-hoi-tro-lai-251451.html