Banking news in the first week of the new year: Bank bonds led the market higher

Banking news for the first week of 2024, including the latest on interest rates, exchange rates, gold and share prices. Finance and Banking Banking News for the First Week of the New Year: Bank Securities Lead the Market Tram Anh • {Published Date} Banking news for the first week of 2024, including the latest on interest rates, exchange rates and gold, stock prices.

exchange rate: The dollar rallied sharply last week and hit a two-week high. The exchange rate is expected to fluctuate between 23,800-24,300 in 2024.

>> Today (January 3) the US dollar shows signs of rising again

In addition, the proportion of U.S. dollars in central bank reserves has not yet reached 60%. In the third quarter, the U.S. dollar accounted for 59.2% of global foreign exchange reserve allocations, down from 59.4% in the previous three months.

: Gold prices fluctuated greatly at the beginning of the week. However, the gold market cooled off over the weekend.

In addition, the State Bank of Vietnam has confirmed that it will not protect gold bar prices and will soon amend Decree No. 24. Experts predict that gold prices will continue to break records in 2024. Tao Mintu, executive deputy governor of the National Bank, also answered the question of eliminating the SJC gold monopoly at a meeting to deploy the 2024 banking industry (NH) tasks.

Federal Reserve (FED) Actions: Recently, the Federal Reserve just released the minutes of its December meeting and stated that it was not sure whether it would cut interest rates in 2024. While waiting for the minutes of the Federal Reserve meeting, the gold, stock market, and oil markets also experienced small fluctuations. .

interest rate: Banks cut interest rates, and only ACB (HM:) bucked the trend and raised deposit rates again. Last week, banks announced their latest deposit interest rate schedules for January. The current interest rate story is no longer the keyword “the bank with the highest interest rate”, but “which bank has cut the interest rate the most.”

As interest rates fall, financial experts step in to analyze the “places” to protect cash flow, ranging from the stock market, real estate, financial investment…

Bank Securities: This week, bank stocks broke through their December 2023 highs, dragging down the market for three consecutive trading days. Bank shareholders also celebrate the Lunar New Year this year as trillions of new funds flow into banks. Therefore, in the current context of the general decline in the stock market, the banking industry is still appreciated by financial experts relative to other industries.

Black credit: Last week, news of “high-amount” loans also became a “hot” topic, arousing great public attention. A new pattern of “black loan” groups has emerged, focusing on students and controlling parents to collect debts.

In addition, the pitfalls of “online financial investment” are also a prominent issue this week. A typical example is the case of 40 people in Dak Lak province who fell into an online investment trap through social networking platforms such as Facebook (NASDAQ: ), Zalo, and Telegram. Currently, a total of VND64 billion has been allocated for these subjects.

>>Vice President of the Gold Business Association: “Abolition of the gold import monopoly will not pose any risk to the market”