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  • Dollar Scales Two-Month High Against Dong amid Federal Reserve Rate Hike Speculations

    Dollar Scales Two-Month High Against Dong amid Federal Reserve Rate Hike Speculations

    On Tuesday morning, the U.S. dollar witnessed a slight increase in value against the Vietnamese dong, maintaining a position close to its two-month peak in comparison to other major currencies. The commercial bank Vietcombank recorded a 0.004% rise in the U.S. currency, selling it at VND26,408. Conversely, the black market saw a 0.04% decrease, with the dollar going for VND26,360.

    Global Performance of the U.S. Dollar

    In the international currency market, the U.S. dollar remained strong and close to a two-month high on Tuesday. The stability of the dollar can be attributed to the uncertainty in the Middle East which has led to a reduced risk appetite among traders. Furthermore, speculations about a potential rate hike by the Federal Reserve later in the year have also played a role.

    Among other major currencies, the euro was valued at $1.1528 while the sterling was valued at $1.3335. Both currencies had experienced a decline of approximately 0.05% in the Asian market after reaching their lowest value in two months during the previous trading session.

    The risk-sensitive currencies such as the Australian dollar and the New Zealand dollar were not spared. The Australian dollar depreciated by 0.1% to $0.7039, while the New Zealand dollar was traded at $0.5804.

    The Japanese yen was also affected, weakening to as much as 160.295. It continued to hover around the 160 level, a mark recognized as the threshold for possible official intervention.

    Performance of the Dollar Index

    The dollar index, reflecting the performance of the U.S. dollar against a basket of currencies such as the yen and the euro, remained nearly unchanged. The index was recorded at 100.03, extremely close to its two-month high of 100.21 from the previous day.

    Questions & Answers

    What was the value of the U.S. dollar against the Vietnamese dong on Tuesday morning?
    The U.S. dollar was valued slightly higher against the Vietnamese dong, selling at VND26,408 in Vietcombank.

    Why has the U.S. dollar held near a two-month high globally?
    The strength of the U.S. dollar can be attributed to the prevailing uncertainty in the Middle East, reducing risk appetite among traders. Additionally, speculations of a Federal Reserve rate hike later in the year have contributed to the dollar’s high standing.

    How did other major currencies perform against the U.S. dollar?
    The euro and sterling both experienced a decline of around 0.05%. The Australian dollar depreciated by 0.1% while the New Zealand dollar traded at $0.5804. The Japanese yen also weakened, hovering around the 160 level.

  • Vietnam Gold Price Soars Amid Anticipated Federal Reserve Interest Rate Cut: An 89.9% Increase Since Start of Year

    Vietnam Gold Price Soars Amid Anticipated Federal Reserve Interest Rate Cut: An 89.9% Increase Since Start of Year

    On Tuesday morning, Vietnam saw a rise in the price of gold, in line with global rates which experienced an upward trend. This increase is attributed to market anticipation of a Federal Reserve interest rate cut.

    The Saigon Jewelry Company reported a 1.66% increase in the price of their gold bars, with the cost reaching VND152.9 million, equivalent to US$5,777.32 per tael. In addition, the price of their gold rings also experienced a rise of 1.68%, costing VND151 million per tael. To clarify, one tael is approximately 37.5 grams, or 1.2 ounces.

    Gold Price Surge

    There has been a marked increase in Vietnam’s gold price since the start of the year, with an overall surge of 89.9%.

    International spot gold also saw an increase, adding 0.27% to its value and reaching $4,144 per ounce. This rise is supported by growing hopes for a Federal Reserve interest rate cut in the coming month and the anticipation of fresh U.S. economic data offering further insights into monetary policy.

    Anticipation for Interest Rate Cut

    The head of commodity strategies at TD Securities, Bart Melek, stated, “The market is increasingly convinced that the U.S. Federal Reserve is set to cut interest rates in December.”

    Gold, a non-yielding asset, typically performs positively in situations where interest rates are low. This is particularly true during times of geopolitical and economic instability.

    Melek added, “We’re awaiting data, and the expectation is that it may display weakness. Inflation is likely not very high, and this all suggests that gold will perform well.”

    Questions & Answers

    Why has there been a surge in gold prices in Vietnam?
    The uptick in gold prices in Vietnam can be attributed to the anticipation of a Federal Reserve interest rate cut, along with global gold prices demonstrating a similar upward trend.

    How does the potential cut in interest rates affect gold prices?
    Gold, being a non-yielding asset, tends to perform well in low-interest-rate environments. The anticipation of a cut in interest rates therefore often leads to an increase in gold prices as investors seek stable investments.

    What does the future hold for gold prices?
    While it’s challenging to predict with certainty, current market expectations are that gold will continue to perform well, particularly if inflation remains low and economic data indicates weakness.

  • Deutsche Bank: Bitcoin May Become Key Central Bank Reserve

    Deutsche Bank: Bitcoin May Become Key Central Bank Reserve

    The global inclination towards safe assets is anticipated to stimulate increased demand for both gold and bitcoin as primary reserves for central banks by the year 2030.

    Gold and Bitcoin: Safe Haven Assets

    Gold has a long-standing reputation as a safe haven asset; however, Bitcoin could soon join this precious metal in garnering such recognition and become a crucial reserve within central banks by 2030, based on a report by Deutsche Bank. The report, penned by senior economist Marion Laboure and analyst Camilla Siazon, highlights the similarity in behavior towards gold in the 20th century with current discussions surrounding Bitcoin.

    The Trend of De-Dollarization

    Significant shifts regarding central bank allocations have been occurring, affecting the US dollar’s share of global reserves, which has fallen from 60 percent in 2000 to 41 percent in 2025. Nevertheless, Deutsche Bank remains confident that the US dollar will maintain a key role in global economics.

    The report emphasized that neither Bitcoin nor gold will fully replace the US dollar, referring to digital assets as “complementary” to national currencies within the central bank reserve strategy.

    Questions & Answers

    What are safe haven assets?
    Safe haven assets are investments that are expected to hold or increase in value during market downturns. Examples include gold and, recently, Bitcoin.

    What is the current trend in central bank allocations?
    There is a noticeable shift away from the US dollar, with its share of global reserves falling from 60 percent in 2000 to 41 percent in 2025.

    Will Bitcoin and gold replace the US dollar entirely?
    According to a Deutsche Bank report, neither Bitcoin nor gold will fully supplant the US dollar. Instead, they are seen as “complementary” to national currencies within the central bank reserve strategy.

  • Starbucks China unveils new third-place experience concept

    Starbucks China unveils new third-place experience concept

    Starbucks today unveiled its first Starbucks Reserve® Bakery Cafe, featuring fresh Italian Princi food, in China. This brand new third-place (in-store) experience is dedicated to the premium Starbucks Reserve® coffees served alongside artisanal and made-to-order food prepared by Princi bakers onsite every day.

    Each baker has been meticulously trained in the acclaimed Italian baker Rocco Princi’s distinctive method of artisanal craft of baking to perfect the recipes for each food item. The cafe also features an expanded menu of Starbucks signature Mixology, including distinctive coffee and tea-inspired cocktails, Italian classics like Aperol Spritz, fine Italian wines and beers.

    This will be the first-of-its-kind Italian Aperitivo experience (early evening social cocktails paired with small bites) in a Starbucks store location within China.

    “For 20 years, Starbucks has revolutionized, and set new standards, around the third-place for our Chinese customers. Today marks yet another significant milestone as we take everything we have learned around coffee and our relentless pursuit for food innovation, to create a new exciting all-day cafe dining and Italian Aperitivo experience,” said Belinda Wong, ceo, Starbucks China. “Our ability to consistently elevate the customer and brand experience in a meaningful and respectful manner truly reflects Starbucks unmatched energy and operational capabilities to execute against our Purpose-driven Growth Agenda to play the long game in China.”

    As a showcase of Starbucks undisputed coffee leadership in China, the cafe features Starbucks ReserveTM Princi™ Blend as the signature coffee offering for its handcrafted espresso beverages made using the Black-eagle Espresso Machine. This special Reserve blend can also be enjoyed freshly-brewed using the Siphon brewer, Pour-over or Starbucks Draft Nitro.

    Authentic, freshly prepared food is the centerpiece that creates the vibrancy and intimacy within the cafe. Customers can share meals with family and friends at the large community table just feet away from the baking oven and the bountiful display of food creations.

    Inspired by the passion and romance of Rocco Princi’s belief to infuse ‘Spirito di MilanoTM’ into this new retail environment, the coffee theatre transforms into a full mixology bar to offer Starbucks-distinctive coffee or tea-infused craft cocktails, beers, and a fine selection of Italian classics and wines specially curated by Rocco Princi, as the day turns into evening.

    Each day from 5 pm to 7 pm, the store celebrates “Aperitivo Time” where customers can enjoy handcrafted cocktails, wine and beer with free-flow of pizza bites, green olives, and schiacciatine.

    They can choose to enjoy this unique Italian evening social occasion by relaxing at the cafe’s outdoor patio with friends and loved ones, just like Italians would across the streets of Milan.

    “I am excited to work with my Princi partners, and Starbucks, to unlock the infinite possibilities of Princi food elevating every daypart for our Chinese customers, from breakfast, lunch, to the new evening Aperitivo experience. This exceptional opportunity to pair Starbucks Reserve coffees with Princi’s 30-year heritage of serving only the freshest and artisanal food, in a brand new store format, is another dream come true for me,” said Rocco Princi.

    With more than 3700 stores in 158 cities, no other coffee retailer in China has the depth of Starbucks coffee expertise, strength of the most sought-after world-class retail locations, and pipeline of meaningful innovations to elevate the customer experience.

    Building on the overwhelming positive reception of freshly baked Italian PrinciTM food at the Shanghai Roastery, and the continued enthusiasm customers have towards Starbucks portfolio of innovative store concepts, the Starbucks Reserve® Bakery Cafe is yet another reflection of Starbucks holistic approach to build an exceptional third-place experience, further cementing its unparalleled leadership and success in China.

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  • Gold scales 8-month peak on Fed rate pause hopes, trade woes

    Gold scales 8-month peak on Fed rate pause hopes, trade woes

    Gold prices edged up on Wednesday to hit their highest since May, supported by uncertainty over U.S.-China trade relations and expectations the U.S. Federal Reserve will keep rates on hold later in the day. Spot gold was up 0.2 percent at $1,313.91 per ounce by 0245 GMT, after touching its highest since May 15 at $1,314.10 early in the session. U.S. gold futures rose 0.3 percent to $1,312.30 per ounce.

    “For the short-term gold is going to move higher as the Federal Reserve will have a dovish tone, which should weaken the dollar and give gold a bit of a move up,” said INTL FCStone analyst Edward Meir.

    The absence of an agreement in U.S-China trade talks should also benefit gold, he said.

    Investors are waiting on the Federal Reserve’s policy decision later in the day, with expectations officials will reinforce their recent dovish stance given a stalemate on global trade, signs of a slowdown in the U.S. economy, and waning business and consumer confidence.

    The Fed raised interest rates four times last year.

    Investors are also concerned that criminal charges against China’s Huawei Technologies Co. Ltd. for violating U.S. sanctions against Iran could complicate U.S.-China trade talks.

    China’s Vice Premier Liu is due to meet with U.S. Trade Representative Robert Lighthizer later in the day.

    “Gold also looks good on the charts … Physical demand seems to be improving in some markets and ETF buying has been increasing. In general the path of least resistance is probably higher from here,” Meir said.

    Underscoring investor interest in the bullion, holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 1 percent to 823.87 tonnes on Tuesday, to their highest since June.

    SPDR gold holdings have risen 4.6 percent so far this month, their best since September 2017.

    “A combination of falling treasury yields, anxiety over Brexit and Venezuela is all helping gold,” said Nicholas Frappell, global general manager at ABC Bullion.

    British lawmakers rejected most amendments that aimed to keep Britain from leaving the European Union without a deal, reviving worries of a chaotic withdrawal from the trading bloc that would damage the UK economy.

    Silver rose 0.3 percent to $15.88 per ounce, having hit its highest since July 2018 at $15.92 in the prior session.

    Palladium fell 0.2 percent to $1,343.50, while platinum was up 0.4 percent at $813.

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