DXY trading strategy September 11, 2023
According to a report from SSI Securities Company, the interest rate of the US Federal Reserve (Fed) is expected by experts to be at 5.25%, which means there are still three interest rate increases this year (an increase of 75 points). basic). The fact that the Fed is expected to continue raising interest rates causes the USD to show signs of strengthening, with the USD Index increasing by nearly 4% in the first two weeks of February.
In addition, according to estimates by VNDirect Securities Company, the State Bank has bought about 3.6 billion USD since the beginning of the year, also making the supply of foreign currency more limited.
Meanwhile, the price of SJC gold bars and gold rings is at the lowest level in two weeks, since the God of Wealth holiday. SJC gold bar price currently fluctuates around 66.25 - 67.05 million VND per tael. The price of gold rings of type 1, 2 or 5 only ranges from 53.4 to 54.3 million VND per tael.
In addition, according to estimates by VNDirect Securities Company, the State Bank has bought about 3.6 billion USD since the beginning of the year, also making the supply of foreign currency more limited.
Meanwhile, the price of SJC gold bars and gold rings is at the lowest level in two weeks, since the God of Wealth holiday. SJC gold bar price currently fluctuates around 66.25 - 67.05 million VND per tael. The price of gold rings of type 1, 2 or 5 only ranges from 53.4 to 54.3 million VND per tael.
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