USD increases, gold decreases, stocks are less volatile

USD and other foreign currencies increased sharply

Banks increased and decreased the USD price continuously on April 4, which has rarely happened since the beginning of the year. Vietcombank increased and decreased the USD price by 10 - 40 VND many times during the day, the buying price dropped to 25,570 - 25,600 VND, the selling price was 25,960 VND. Compared to the record price of 26,000 VND set earlier (April 3), this bank has reduced the price by 40 VND per USD. Similarly, ACB also reduced the USD price by 40 VND after increasing it at the beginning of the day, down to 25,570 - 25,600 VND, the selling price was 25,950 VND... On the interbank market, the USD price traded between banks decreased by 40 VND, down to 25,770 VND.

USD price fluctuated continuously on April 4

Despite the decline, the greenback is still at its highest level ever. Compared to the beginning of the year, the USD price at banks has recorded an increase of nearly 450 VND, equivalent to 1.75%. In the free market, the USD price has also increased by more than 26,000 VND and has been maintained for the past 2 days. The buying price is 25,965 VND, the selling price is 26,065 VND, an increase of 30 VND compared to before.

Not only USD, the prices of other foreign currencies have also fluctuated quite strongly in recent days. At Vietcombank, EUR continued to increase by 387 VND, bringing the total increase in the past month to 2,000 VND, equivalent to a price increase of 7.3%. The EUR buying price increased to 27,777 - 28,058 VND, selling price 29,300 VND. Similarly, Japanese Yen (JPY) increased by 1.38 VND, to 170.31 - 172.03 VND for buying, selling price 181.13 VND. The JPY price increased by 5.38 VND in the past month, up more than 2%. Although the British Pound (GBP) price decreased slightly by 80 VND, down to 32,799 - 33,130 VND, selling price 34,192 VND, this currency also recorded an increase of 1,300 VND in the past month, bringing the increase to about 4%...

In contrast to domestic developments, the USD price on the world market has plummeted. The USD-Index has continuously dropped from 104.2 points on April 2 to 101.54 points on April 4, before increasing by 0.4% to 102.5 points in the afternoon. With these developments, the USD price on the world market is witnessing an unprecedented decline in history. Compared to the highest level that the USD-Index reached at the beginning of the year, which was nearly 110 points, the current decline is nearly 7%. The reason for the sharp increase and decrease of the USD as well as other foreign currencies in the past 2 days comes from the US announcing a reciprocal tariff policy aimed at its partners.

The White House has calculated that the tariffs imposed by countries on the US include currency manipulation and non-tariff barriers, so there needs to be a corresponding response. This has raised investor concerns about the impact of the escalating global trade war on the world's largest economy. At the same time, a series of weaker-than-expected US economic data has raised fears of a recession and weakened the USD this year.

SJC gold bar price decreased by nearly 1 million VND/tael

Forecast of high USD price

Financial expert, Dr. Nguyen Tri Hieu expressed that he did not understand how the US calculated that Vietnam imposed a tax of up to 90% on US goods. According to him, this is a difficult number to understand, there is no tax rate that high. "According to the explanation of the US president, this level includes currency manipulation. Here, it is necessary to clarify what currency manipulation is when for many years, Vietnam has not been on the US list of currency manipulators. When the US knows how currency manipulation is calculated, the State Bank (SBV) will have measures to address this issue so that Vietnam is not considered a currency manipulator," said Mr. Hieu.

A notable point in the foreign exchange market developments in the past few days, according to Mr. Hieu, is that the USD-Index has decreased sharply but the domestic USD price has increased sharply. This reflects the market's concerns about the tariff policy that the US has just introduced on Vietnamese goods. "The USD price is likely to continue to increase due to market sentiment and reduced foreign currency sources. High tariffs will affect exports, thereby reducing foreign currency revenues. Not to mention the high tariffs, some companies will consider investing in the US. The exchange rate in 2025 will have unpredictable fluctuations due to unexpected factors but will not be lower than in 2024, reaching a high level of 5-7%," said Mr. Nguyen Tri Hieu.

According to Mr. Nguyen The Minh, Director of Analysis of the Individual Client Division of Yuanta VN Securities Company, the domestic USD price is affected by the psychological impact of the tariff policy that the US has just announced. Foreign investors are considering the time to disburse capital before the tariff officially takes effect. Market sentiment is also waiting for the results of the discussion between Vietnam and the US on whether to maintain the same tax rate as in the past or not. Psychological factors are causing investment capital to be disbursed more slowly. This affects the source of foreign currency in the market and not only the USD but also other foreign currencies increase.

Mr. Nguyen The Minh analyzed: The monetary market management policy of each country is different. Even countries that are transparent about monetary policy have been labeled as currency manipulators in the past, such as Switzerland, China, and Japan. In recent years, Vietnam has not been labeled as a currency manipulator. The State Bank of Vietnam has also discussed with the US many times about managing exchange rate policies. Therefore, it is hoped that in this negotiation, the US will adjust the tariff rate for Vietnam. However, from now until April 9, according to Mr. Nguyen The Minh, the exchange rate will fluctuate a lot in an upward trend. However, there is also a factor that will reduce pressure on the exchange rate: the US Federal Reserve (Fed) will reduce interest rates at its meeting in June. However, the US government's imposition of high tariffs on imported goods can also increase inflation.

"Normally, the Fed will look at economic indicators such as inflation to decide to adjust interest rates. However, US President Donald Trump 's actions to increase oil production and supply to the market will reduce prices to curb inflation. At the same time, this president also puts pressure on the Fed Chairman to reduce interest rates. Therefore, inflation may increase but not too hot. Therefore, the exchange rate in the short term will be under great pressure, increasing by about 2.5%. By June, when the Fed reduces interest rates, the pressure on the exchange rate will also be less," Mr. Minh predicted./.

Gold price drops sharply, loss of 4 million VND/tael

The sharp drop in the world USD price could not pull down the gold price after reaching a peak of 3,169 USD/ounce. This is a strange development because when the USD price drops, gold is usually supported to increase in price. However, the world gold price has been falling steadily, down to 3,097 USD/ounce on April 4. On the same day, the domestic gold price also continued to fall. Trading companies continuously adjusted the price of SJC gold bars down by 200,000 VND each time, increasing the daily discount to 700,000 - 900,000 VND. The buying price is 98.8 million VND, the selling price is 101.3 million VND. Similarly, the price of gold rings was also blown away by 400,000 - 700,000 VND per tael. The buying price of gold rings by companies is from 98.5 to 99 million VND, selling price is from 101.2 to 101.6 million VND. Those who bought gold at the peak of 102.8 to 102.9 million VND/tael a few days ago, now suffer a heavy loss of 4 million VND/tael. The difference between the buying and selling price of domestic gold has increased to 2.5 to 2.6 million VND per tael. This means that gold buyers at this time have to suffer a large loss, equivalent to 2.7%.

Regarding stocks, the VN-Index has recovered after losing 75 points at the opening. There were 195 stocks in the entire market that increased in price again. With 45,000 billion VND "changing hands", the stock market has somewhat calmed down.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/usd-tang-vang-giam-chung-khoan-bot-chao-dao-185250404202859051.htm

Source: https://baolongan.vn/usd-tang-vang-giam-chung-khoan-bot-chao-dao-a192944.html