USD continues to move sideways?

Foreign exchange rates, USD/VND exchange rate today September 30, the US Dollar Index (DXY) is currently at the important support level of 100, and will likely continue to fluctuate sideways for a while.

Foreign exchange rate update table - Vietcombank USD exchange rate today

1. VCB - Updated: September 30, 2024 07:28 - Time of website supply source
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
Australian Dollar	AUD	16,472.11	16,638.50	17,173.17
Canadian Dollar	CAD	17,770.15	17,949.65	18,526.45
SWISS FRANC	CHF	28,333.92	28,620.12	29,539.81
YUAN RENMINBI	CNY	3,435.05	3,469.75	3,581.78
DANISH KRONE	DKK	-	3,616.14	3,754.81
EURO	EUR	26,762.69	27,033.02	28,231.58
Sterling Pound	GBP	32,081.68	32,405.74	33,447.08
HONG KONG DOLLAR	HKD	3,080.79	3,111.91	3,211.91
INDIAN RUPEE	INR	-	293.17	304.90
YEN	JPY	165.21	166.88	174.83
Korean Won	KRW	16.14	17.94	19.46
KUWAITIAN DINAR	KWD	-	80,449.34	83,669.92
MALAYSIAN RINGGIT	MYR	-	5,900.25	6,029.25
NORWEGIAN KRONER	NOK	-	2,282.53	2,379.56
Russian Ruble	RUB	-	253.11	280.21
SAUDI RIAL	SAR	-	6,537.35	6,799.06
SWEDISH KRONA	SEK	-	2,377.23	2,478.29
SINGAPORE DOLLAR	SGD	18,675.83	18,864.48	19,470.68
THAILAND BAHT	THB	669.61	744.01	772.54
US DOLLAR	USD	24,390.00	24,420.00	24,760.00

Exchange rate developments in the domestic market

In the domestic market, according to TG&VN at 8:00 a.m. on September 30, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD at 24,105 VND, down 29 VND.

The reference USD exchange rate at the State Bank's Transaction Office is listed at: 23,400 VND - 25,260 VND.

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

Vietcombank: 24,430 VND - 24,800 VND.

Vietinbank : 24,300 VND - 24,800 VND.

Foreign exchange rates, USD/VND exchange rate today September 30, USD continues to move sideways? (Source: Finanzmarktwelt)

Exchange rate developments in the world market

In the US market, the US Dollar Index (DXY) measures the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) at 100.42.

The DXY has been trading in a narrow range for the past week, trading between 100.16 and 101.23. The short-term outlook remains unclear, but the release of US Personal Consumption Expenditures (PCE) Price Index data later this week could keep the index in negative territory. The yield on the 10-year US Treasury note fell late last week following the PCE data.

The US PCE index rose 2.37% (year-on-year) in September, down from 2.65% the previous month. The PCE is the US Federal Reserve's inflation gauge. So, as the PCE continues to decline, it will contribute to supporting the Fed's plan to cut interest rates in the coming time.

There are two important data points to watch closely this week. The manufacturing Purchasing Managers’ Index (PMI) will be released on October 1. The index currently stands at 47.2 in August. A lower September PMI would raise concerns about an economic slowdown, which would be negative for the greenback.

Jobs data will be released on October 4. If the unemployment rate rises in September, from just 4.2% in August, this will bring a negative outlook for the greenback.

The DXY is currently at the important support level of 100. As long as it remains above the psychological level of 100, it is likely to continue to move sideways for a while. The DXY could then trade in a narrow range of 100-101 or a wider range of 100-102. A breakout on either side of the 100-102 range will determine the next direction.

If the index falls below 100, a bearish trend will emerge. This could drag the DXY index down to 98. Conversely, if there is a strong breakout above 102, the bearish pressure will be relieved and the index could rise to 104.

The US 10-year Treasury yield is struggling to stay above 3.8%. Current resistance is at 3.83%. If yields stay below this level, the next scenario would be a drop to 3.6%. A break below the nearest support level at 3.72% could trigger this decline.

EUR/USD remains in the 1.10-1.12 range. It broke above 1.12 last week but then fell back. Support levels are at 1.1050 and 1.10. The trend remains positive for the index if it rises above 1.12. Such a breakout could push the EUR up to 1.13-1.14.

However, if the EUR falls below 1.10, this will establish a bearish bias with a possible drop to 1.09-1.08.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-309-usd-tiep-tuc-di-ngang-288142.html