Market Newsletter on 30.03.2023

FORECAST FOR THE DAY
RATE USD/VND

USD/VND RATE TRENDING

Market sentiment:

Domestic: Refined sugar prices rose to their highest levels in more than a decade this week, while raw sugar prices also rose near their highest levels in more than six years. Global supply is tightening, mainly because India, one of the top suppliers, has cut exports after rain affected the sugarcane crop, and sugar raw materials are encouraged to switch to wall
biofuel.

Data from the General Statistics Office shows that only Vietnam's service sector in the first quarter of 2023 clearly showed a recovery, making a great contribution to the GDP growth in the first quarter. This result is thanks to the efficiency As a result of policies to stimulate domestic consumption, the policy of reopening the economy from March 15, 2022 when the Covid-19 epidemic is under control, activities to promote and promote Vietnam's tourism to the country. countries around the world are promoted. In which, accommodation and catering services increased by 25.98% over the same period last year, contributing 0.64 percentage points; wholesale and retail increased by 8.09%, contributing 0.85 percentage points...

World: The USD Index rose slightly by 0.2% yesterday as the market focused back on the story of the Fed's fight against inflation after concerns about the health of the US banking system had subsided. decrease. The US PCE Personal Consumption Prices report on Friday evening (the Fed's preferred inflation tracker) will shed more light on the agency's options at its policy meeting in early May. . The market is assessing that there is a 60% chance that the Fed will keep interest rates unchanged in the next meeting. Prudence is necessary because the Fed's ultimate goal is to beat inflation while the risks coming from the health of the banking system have been viewed by the Fed as controllable losses in the cycle from the beginning. policy tightening.