According to the converted price at 25,356 VND/USD, the USD/VND exchange rate is at its peak, Masan will receive VND 6,228 billion in net cash from this investment, helping to significantly improve Masan’s balance sheet. At the same time, Masan will continue to actively seek alternative solutions to reduce leverage and reduce interest expenses with a net debt to EBITDA target of
– Bitcoin price increased after the halving event
Bitcoin is witnessing its first price increase after the halving on April 19. The cryptocurrency recovered more than 5% and rose to the $67,000 mark.
According to data from CoinMarketCap, Bitcoin price is slowly recovering after the halving event took place on April 19. To date, the price of the world’s largest digital currency has increased more than 5% and is trading around the 67,000 USD/BTC mark.
Bitcoin’s liquidity also improved significantly, increasing nearly 30% in the past 24 hours. Thanks to this recovery, Bitcoin’s capitalization expanded to $1,320 billion.
Bitcoin’s positive developments have partly relieved doubts in the cryptocurrency market. In addition to Bitcoin, cryptocurrencies leading the market in terms of capitalization were also strongly bought, typically Ethereum (+3.2%), Binance Coin (+9.3%), Solana (+13.2 %), XRP (+12%) or Cardano (+11.2%).
According to CNBC, this is the first price increase of Bitcoin after completing the 4th halving event. The occurrence of this event will cause miners’ Bitcoin mining reward to halve from 6.25 BTC to 3,124. BTC, thereby putting pressure on supply and allowing the digital currency to maintain scarcity like gold.
– Strength of the USD – scenario beyond forecast for 2024
The world’s financial markets are facing a scenario that was not predicted for 2024. That is the strength of the USD.
The Bloomberg Dollar Index is up more than 4% this year, showing the currency has appreciated against all developed-country and emerging-market currencies.
Asset management company UBS Asset Management predicts the USD could rise further even though the currency is currently 20% higher than its normal value. Meanwhile, Wells Fargo Investment Institute has abandoned predictions that the USD will weaken this year and believes that the “greenback” will extend its upward momentum until the end of 2025.
Mr. Ales Koutny, senior expert at the world’s second largest money management company Vanguard Group Inc., said: “If other countries cannot keep up with America’s growth and inflation, there is almost no choice left.” no choice but to buy USD.
The USD strengthened thanks to a series of signs that the US economy was not decelerating as many predicted. The labor market remains tight and manufacturing activity continues to expand. Prolonged high inflation has caused US Federal Reserve Chairman Jerome Powell and many policymakers to delay lowering interest rates longer than expected. New York Fed President John Williams even mentioned the possibility of continuing to raise interest rates.
Of course, the strengthening of this world’s reserve currency will impact other currencies and economies.
– Robusta coffee prices increased, Arabica coffee prices decreased, experts predict that the increase may continue
Vietnam’s coffee exports in the first 5 months of the 2023-2024 crop year are still higher than the annual average due to increased prices. However, the supply of goods is gradually narrowing, while roasters around the world still rely mainly on goods from Vietnam.
World coffee prices have mixed movements, robusta continues to increase sharply, arabica declines.
Domestic coffee prices have continuously increased sharply from 2,500 VND – 3,500 VND/kg, towards the mark of 130,000 VND/kg, currently trading in the range of 125,000 – 127,000 VND/kg.
Two new features in the current market: Arabica coffee prices have decreased due to many short-buying contracts on the floor, while supply continues to be a concern, pushing Robusta up without stopping.
Coffee supply is forecast to continue to be tense in the near future, when coffee sources from Vietnam decrease sharply, while Brazil will not begin a new harvest until July. Meanwhile, Indonesian coffee mainly serves domestic consumption, with not much export source. Farmers in Indonesia can also postpone coffee harvest until late May or June, instead of April as usual; This further narrows the current supply, thereby pushing robusta prices up sharply.
Roasters around the world still rely mainly on goods from Vietnam. They and investors are also worried that developments in the Middle East may continue to affect the transport of coffee from Asia to Europe. This problem occurred earlier this year when Red Sea tensions caused the commodity supply chain to be seriously affected.
