The EUR to VND exchange rate currently has a range-bound market bias.
Key drivers include the interest rate differential, where the European Central Bank (ECB) maintains a flexible policy while Vietnam aims for stable inflation around 4.5%. Global economic trends also play a role, with the euro supported by projected growth in the Eurozone, despite geopolitical tensions impacting sentiment. Additionally, elevated oil prices, currently at $60.82, can influence the euro's stability as fluctuations can affect inflation and economic confidence.
In the near term, the expected trading range for EUR to VND is likely to stay within a stable band, reflective of recent trading patterns around 30,783. Upside risks include a significant improvement in global risk sentiment or surprising economic data from the Eurozone that strengthens the euro. Conversely, downside risks could arise from instability related to legislative elections in Vietnam or a sudden drop in oil prices, which may weaken the euro's support.