Market Highlight 27.11.2025

Global gold prices rose 0,8% yesterday to approach USD 4.165 per ounce amid growing expectations that the U.S Federal Reserve will deliver another rate cut in December. Markets are currently pricing in an 85% probability that the FED will lower rates by an additional 25 basis points on December 10, with the latest U.S jobless claims data seen as unlikely to prevent the FED from easing further. The White House said the nominee for the next FED Chair could be announced by the U.S President before Christmas this year. Kevin Hassett, a key economic adviser to Donald Trump, is viewed as a leading contender, reinforcing ex-pectations that interest rates could be cut more aggressively in 2026. Hassett has stated that U.S interest rates should be lower than current levels under FED Chair Jerome Powell.

The USD Index fell 0,23% yesterday, marking its third consecutive daily decline, after U.S economic data continued to come in weaker than expected. A monthly survey released on Wednesday showed that business activity in the Chicago region fell sharply in November, as new orders, output, and hiring all declined. Earlier data had also pointed to weakening U.S consumer confidence and slowing retail sales growth in September. More positive data on durable goods orders and weekly jobless claims overnight was insufficient to help the USD recover, as market sentiment is increasingly focused on the outcome of the FED meeting in two weeks.

In the domestic market, the interbank USD/VND exchange rate traded within a narrow band around 26.370 - 26.380 yesterday, while the State Bank of Vietnam kept the effective ceil-ing rate unchanged at 26.403. The interbank market is expected to continue trading steadily around 26.350 today.

Please contact the nearest Asia Commercial Joint Stock Bank's branch to receive information and consultancy if you are in need of making any foreign exchange and derivatives transactions.

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Directly contact us to receive market news and consultancy on foreign exchange products and derivatives:

- Financial Markets Division – Email: ktttc@acb.com.vn ; or

- Mr. Khanh Hoang (Financial Markets Senior Analyst) – Email: hoangnk@acb.com.vn