Down after a series of highs

On the morning of March 3, USD prices at commercial banks fluctuated in opposite directions during the week. For example, Eximbank bought at 24,410 VND and sold at 24,800 VND, down 10 - 20 VND compared to the end of last week. Vietcombank increased the buying price by 20 VND to 24,440 VND and added 20 VND to the selling price, up to 24,810 VND, but also lower than the previous high... Overall, USD prices have cooled down after a sharp increase in February.

Last week saw the euro price also increase as Vietcombank bought at 25,961 VND and sold at 27,389 VND. Compared to the end of last week, the euro price increased by 21 VND in the buying price and increased by 12 VND in the selling price.

USD price goes down after a series of high increases

On the world market, the USD price also turned down, the USD-Index fell to 103.82 points, 0.16 points lower than last weekend. The greenback fell after many published data showed that some economic sectors of the US continued to decline in parallel with inflation. The recent consumer survey by the University of Michigan showed that confidence had decreased. Previously, the US CPI in January fell to its lowest level in nearly 3 years.

Economists at Goldman Sachs have cut their estimate for first-quarter U.S. gross domestic product (GDP) to 2.2 percent, 0.2 percentage points lower than previously forecast. Still, falling inflation has helped markets predict the Federal Reserve will likely start cutting interest rates in June.

Meanwhile, the US stock market recorded a record increase at the end of last week. At the close of the session on March 1, the Nasdaq Composite and S&P 500 indexes rose to all-time highs, surpassing the record set in 2021. Specifically , the Nasdaq Composite index increased 1.14% to 16,274.94 points. Similarly, the S&P 500 index added 0.8% to 5,137.08 points and closed above 5,100 points for the first time. The Dow Jones index increased 90.99 points (equivalent to 0.23%) to 39,087.38 points. Notably, technology stocks continued to lead the market. Shares of chip giant Nvidia, which has led the technology industry by breaking out more than 260% in the past 12 months, jumped another 4%; Meta shares (owner of Facebook) also increased more than 2% in this session…

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