Economic news review November 14

The central exchange rate increased by 2 VND, the VN-Index dropped sharply by 14.15 points, and gasoline prices fell across the board... are some notable economic news on November 14.

Economic news review

Domestic news

Foreign exchange market, session 11/14, State Bank listed the central exchange rate at 24,290 VND/USD, slightly increased 02 VND compared to the previous session.

The buying and selling prices of USD were kept unchanged by the State Bank of Vietnam at 23,400 VND/USD and 25,450 VND/USD, respectively.

On the interbank market, the dollar-dong exchange rate closed at 25,400 VND/USD, up 57 VND compared to the session on November 13.

The dollar-dong exchange rate on the free market increased by 80 VND for buying and 70 VND for selling, trading at 25,620 VND/USD and 25,720 VND/USD.

Interbank money market, November 14, the average interbank VND interest rate continued to increase by 0.10 - 0.26 percentage points for all terms from 1 month or less compared to the previous session; specifically: overnight 5.60%; 1 week 5.59%; 2 weeks 5.53 and 1 month 5.36%. The average interbank USD interest rate remained unchanged for all terms, trading at: overnight 4.60%; 1 week 4.66%; 2 weeks 4.71%, 1 month 4.74%.

Government bond yields in the secondary market increased in most maturities except for the 3-year maturities, which remained unchanged; closing at: 3-year 1.88%; 5-year 1.95%; 7-year 2.26%; 10-year 2.74%; 15-year 2.97%.

In open market operations, on the mortgage channel, the State Bank bid 20,000 billion VND, 7-day term, interest rate at 4.0%. There were 19,999.91 billion VND won bids. There were 15,000 billion VND maturing on the mortgage channel. The State Bank bid 28-day SBV bills, bidding interest rates. There were 1,450 billion VND won bids, interest rate returned to 4.0%. There were 6,300 billion VND maturing bills.

Thus, the State Bank of Vietnam net injected VND9,849.91 billion into the market through the open market channel yesterday. There were VND89,999.79 billion in circulation on the mortgage channel, and VND64,600 billion in treasury bills in circulation.

In the stock market yesterday, all indices fell together with reduced liquidity, showing the cautious sentiment of investors. At the end of the trading session, VN-Index dropped sharply by 14.15 points (-1.14%) to 1,231.89 points; HNX-Index lost 2.40 points (-1.06%) to 223.82 points; UPCoM-Index fell 0.48 points (-0.52%) to 91.87 points. Market liquidity increased slightly with a trading value of over VND17,500 billion. Foreign investors continued to net sell nearly VND930 billion on all three exchanges.

Gasoline prices have decreased across the board since November 14 following adjustments by the Ministry of Industry and Trade and the Ministry of Finance. Accordingly, RON 95 gasoline price decreased by VND340/liter compared to the previous adjustment period, to VND20,600/liter; E5 RON 92 gasoline decreased by VND290/liter, to VND19,450/liter; diesel price decreased by VND340, to VND18,570/liter; kerosene has a new price of VND18,980 (down VND310/liter); fuel oil has a new price of VND16,000/kg (down VND390/kg).

International News

The US Department of Labor announced that the country's total PPI and core PPI increased 0.2% and 0.3% respectively compared to the previous month in October, following the previous month's 0.1% and 0.2% increases, and matching experts' forecasts. Compared to the same period in 2023, the total PPI and core PPI increased 2.4% and 3.5% respectively in October, expanding from the 1.9% and 3.3% increases recorded in September.

Next, in the labor market, the number of initial unemployment benefits in the US in the week ending November 9 was 217 thousand, down slightly from 221 thousand the previous week and contrary to the forecast of an increase to 224 thousand. The average number of applications in the most recent 4 weeks was 221 thousand, down 6.25 thousand compared to the previous 4 weeks.

Eurozone GDP grew 0.4% quarter-on-quarter in the third quarter, slightly faster than the 0.3% increase in the second quarter and in line with forecasts, the European Union's statistics office Eurostat said. However, markets believe that the Eurozone economy is facing various difficulties, with industry still in recession and household consumption barely growing.

The Australian Bureau of Statistics (ABS) said the country created 15.9 thousand new jobs in October, much lower than the previous month's 61.3 thousand (revised down from 64.1 thousand according to preliminary statistics) and also lower than the forecast of 25.2 thousand. This is the lowest number of new jobs created since April 2024.

Next, Australia's unemployment rate in October remained at 4.1%, unchanged from the previous month and in line with forecasts. The unemployment rate in this country has fluctuated in a narrow range of 4.0% - 4.2% since March.

Source: https://thoibaonganhang.vn/diem-lai-thong-tin-kinh-te-ngay-1411-157828-157828.html