Market Highlight 05.12.2025

Kevin Hassett, Director of the National Economic Council, said the Federal Reserve should cut interest rates at next week’s meeting and projected a reduction of 0,25%, as growing signals suggest President Donald Trump may nominate him as the next Chair of the U.S Central Bank. Hassett said he aims to “achieve a much lower level of interest rates” over the long term. The President’s economic adviser declined to say how many additional cuts he would support if appointed to lead the FED, noting that the Chair’s role is to “react very quickly to the data” and to assess how any adjustment in interest rates would influence inflation and employment.

Silver prices were steady after pulling back from a record high earlier this week. The white metal is trading around $57,05 per ounce after declining more than 2% in the previous session, ending an eight-day winning streak. Thursday’s correction pushed silver out of overbought territory after a rapid climb that took prices near $59 on Wednesday. The rally has been supported by rising expectations that the Federal Reserve will lower rates at next week’s meeting, alongside growing concerns over tightening supply conditions. Markets are also watching for any potential tariff measures on silver after the metal was added to the U.S Geological Survey’s (USGS) critical minerals list last month. Positive forecasts suggest silver prices could double in 2026.

The interbank USD/VND exchange rate traded largely within the 26.360 - 26.375 range on Wednesday, a band that has dominated market activity for nearly 3 weeks. Markets will closely monitor the outcome of the FED’s December policy meeting next week to assess subsequent scenarios for exchange rates and interest rates in early 2026.

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