RMB Immediate Return To The 6.20 Pass Waiting For Trade Data Guide Direction

The RMB against the US dollar (6.2005, 0.0037, 0.06%) spot exchange rate fell slightly on Wednesday (April 9th) closing, reversing the slight rise in early trading, and finally held the key point of 6.20 yuan. The central parity of RMB has risen to more than a week high for second consecutive days, driving the Yuan's early trading to hit a two week high of 6.1860 yuan. However, the oil purchase in the afternoon has been surging, and the purchase of foreign exchange by Chinese capital has been released to push the exchange rate down.

At the close, the US dollar / Renminbi inquiry system closed at 6.2003, an increase of 41 points compared with the previous trading day.

The recent appreciation of the renminbi may be interrupted. Traders said that yesterday's closing price rose to 6.20 yuan mark, triggering much enthusiasm in early trading today, but today's oil market and Chinese capital big purchase of foreign exchange, so that the RMB closed at the end of 6.20 yuan. Exchange rate The hovering around key points shows that regulators are still hard to tolerate a marked rise in the appreciation of the renminbi.

According to the data released by Hongkong Finance Association, the fixed price of US dollar / Renminbi (Hongkong) spot exchange rate in April 9th was 6.1980/96.

"In the afternoon, the oil pan came out, with a large scale, estimated at more than 1 billion, and the big line also bought (US dollars), so it received 6.20 above, and the trend of going down was interrupted." A stock line trader pointed out.

He also believes that regulators did not give up the 6.20 yuan pass, and the short-term exchange rate may continue. appreciation After all, the market is more powerful, but without the cooperation of regulators, the appreciation of market forces will not be too great, and tomorrow will be a crucial day. Trade data will provide a clearer direction for the market.

A foreign bank trader believes that the latest trade data will be released tomorrow. The market is expected to have a clear differentiation in trade data and a little cautious in trading.

A chief executive of the stock exchange has predicted that the trade surplus will not exceed $20 billion in March and the normal range is 100-200 billion. If 10 billion or even less, it will help the exchange rate to maintain a weak position. If 20 billion or more, the depreciation of the RMB may not be longer.

Some traders also said that the United States was about to launch. exchange rate Manipulation of the country's report, and also recently warned against the depreciation of the RMB exchange rate, so the market expects the short-term RMB exchange rate to go up, but the future margin may be limited, and the probability of a shock increase is even higher.

On Tuesday, China's safe increased the total size of its short-term external debt balance index to $43 billion 392 million in 2014, an increase of $6 billion 90 million or 16.3% over last year. Traders believe that this means that the ability of institutions to borrow US dollar funds in the interbank market can be improved. The increase in external liabilities will improve the liquidity of the US dollar in the interbank market; however, the market impact is relatively limited due to the small amount of increase.

In the global market, the US dollar rebounded to 0.33% against the yen (101.90, 0.0500,0.05%) on Wednesday, the largest single day decline in more than seven months. The New Zealand dollar and the Australian dollar both rose.

The Hong Kong dollar (7.7529, -0.0008, -0.01%) / RMB inquiry system closed at 0.79962, an increase of 5 points compared with the previous trading day; the 100 yen / RMB inquiry system closed at 6.0787, an increase of 447 points compared with the previous trading day; the euro / RMB inquiry system closed at 8.5578, an increase of 296 points compared with the previous transaction; the pound / RMB inquiry system closed at 10.3828 points, an increase of 625 points compared with the previous trading day; the Australian dollar / Renminbi inquiry system was 5.8149, an increase of more than the previous day; the Canadian dollar / Renminbi inquiry system rose to an increase, compared with the previous trading day; the New Zealand dollar / RMB inquiry system was closed at the end of the previous trading day.