RMB Is Still In Shock And Rest Period.

< p > on the background of a strong rebound in the US dollar index last Friday, the central parity of the RMB against the US dollar reached a new low of nearly eight months on Monday. However, the spot rate continued to maintain a narrow trend in the near term, and it did not take the lead before the challenge.

Analysts said, on the one hand, the US dollar index is still difficult to appear in the short term trend reversal; on the other hand, in April, trade data, CPI and other basic indicators show that China's macroeconomic has not seen any further signs of deterioration. On the whole, it is expected that the RMB exchange rate in the near future is expected to continue to be arranged horizontally.

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< p > < strong > < a > href= > //www.sjfzxm.com/news/index_c.asp > US dollar > /a > strong rebound > /strong > /p >

The intermediate price of < p > strong > RMB reached a 8 month low of < /strong > < /p >

Last week for the second half of last week, the dollar index has finally ushered in the "flash moment" of the European Central Bank's "pigeon rhetoric". P

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At the beginning of last week, although the non farm payrolls data in May were very beautiful, the US dollar decline was still not reversed. Last Thursday, the US dollar index hit a new low of 78.91 over the past year. P

But then, as Delagi, President of the European Central Bank, said the a href= "//www.sjfzxm.com/news/index_c.asp" > Euro < /a > is a "great worry", the ECB may take further action to support the economic growth and push up inflation in the June meeting. The euro, ruiro and other European currencies continue to plunge, and then push up the early declining dollar index.

Last Friday (May 9th), against the backdrop of the second consecutive trading days of the euro dollar exchange rate, the US dollar index rose 0.52% to 79.86 points, returning to the central axis level around 80 months.

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In terms of < p > a href= "//www.sjfzxm.com/news/index_c.asp" > RMB < /a >, after the euro fell last week, there was a slight decline in the intermediate price of the weaker RMB against the US dollar at the recent stage.

According to the China foreign exchange trading center, the RMB exchange rate against the US dollar in the interbank foreign exchange market in May 12, 2014 was 6.1625, down 44 basis points from last Friday.

So far, the median price has been weakening for third consecutive trading days, and has set a new low of 8 months since September 9, 2013.

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In the interbank spot foreign exchange market (P), although the spot dollar exchange rate of RMB against the US dollar also showed a slight weakening on Monday, it did not take the lead to challenge the former low, but continued to show the trend of horizontal collation.

On that day, the RMB exchange rate against the US dollar opened at 80 basis points at 6.2360, closing at 6.2375, up 95 basis points or 0.15% on Friday.

Although the spot exchange rate reached the lowest closing level in nearly 5 trading days, it remained within the shock range of 6.22 to 6.25 since May.

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< p > < strong > the fundamentals are still relatively stable < /strong > < /p >.

< p > < strong > < a > href= > //www.sjfzxm.com/news/index_c.asp > > RMB > /a > continue to drop little space < /strong > /p >

< p > traders have indicated that the overall market direction is still unclear from the performance of the RMB exchange rate and the spot exchange rate yesterday. The parties are still cautious in their trading, and at the same time, the willingness of foreign trade enterprises to meet the high demand for settlement is still relatively high.

In addition, from the economic fundamentals and the central bank's monetary policy point of view, on the one hand, the latest economic indicators show that the real economy has not worsened signs; on the other hand, although the CPI data show that inflation pressure is small and monetary policy still has room for relaxation, the central bank's policy attitude is also more cautious.

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< p > in addition to last week's rebound trend of "dry land pull onion", Xingye capital and other institutions also pointed out that the current market is still lacking confidence in the rise of the US dollar. In the short and medium term, the US dollar is still in the super loose period, and it is difficult to achieve the trend reversal.

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In the case of P, domestic and international situations, analysts say that the RMB exchange rate will not be strong in the short term, but it is not expected to weaken significantly.

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