On Monday (March 27), the sharp drop in the US dollar caused by the setback of the new medical reform in Trump Intensified around the European trading period, but this did not significantly boost the RMB trend, paling with the strength of Asian currencies such as the Korean won and Taiwan dollar.
Last year, the RMB remained relatively stable against the weak US dollar, while the decline in the basket currency was still the market theme. OCBC Bank economist Xie Dongming said that he felt "reappeared yesterday."
Except for the Hong Kong dollar, today the onshore RMB rose by the lowest in Asian currencies against the US dollar
The domestic RMB maintained appreciation against the US dollar throughout the day. At the beginning of the session, it made a rebound in the overnight foreign market, and then fell from the high day. In the afternoon, the US dollar index continued to fall and approached the 99 mark for a while. The RMB trend was still soft. The highs reached at the beginning of the market were not broken; two traders said that the daily foreign exchange purchases were still relatively large, and oil companies were seeing foreign exchange purchases; one of the traders said that the market conditions were similar to last year. When the US dollar pulled back, the RMB did not appreciate much, and it depreciated against a basket; although the pressure to buy foreign exchange this year was significantly reduced compared with last year, the overall customer still tended to buy US dollar
on dips. After the mid-price of today rose by 0.21%, the RMB basket index simulated by Bloomberg still fell 0.06% to 92.85, reflecting that the RMB depreciated against most currencies
onshore RMB was 6.8771 yuan against the US dollar; 16:30 official closing price At 6.8764 yuan, up 0.16%; RMB turnover increased by 5% to US$26.192 billion; offshore RMB against the US dollar at 6.8552 yuan; the price difference between onshore and offshore RMB was 219 points
USD/onshore RMB one month implicit volatility fell 6.3 basis points to 3.425%; the RMB 1 year NDF rose 0.34% to 7.062 yuan
One-year domestic USD against the RMB fell 8 points to 1235; the RMB against the US dollar mid-price rose 144 basis points or 0 .21%, at 6.8701 yuan; according to the intermediate price calculation, the upper limit of today's trading amplitude is 6.7327, and the lower limit is 7.0075
Onshore, offshore RMB and intermediate price trends
Focus on
China Central Bank: The internationalization of the RMB must maintain its determination and steadily promote Capital account convertibility
Foreign Exchange Bureau announced that at the end of 2016, China's banking industry's net liabilities to US$86.9 billion; China's service trade deficit in February was 176 $100 million
China Central Bank said that fiscal expenditures are on the verge of the end of the month, hedging Central Bank reverse repurchase After the maturity, liquidity in the banking system is still at a high level, and no open market operations are carried out today; a net recovery of 80 billion
Overseas attention
Bloomberg US data prospect: This week, including how soon the Trump administration's policy focus will shift from medical insurance reform to tax policies and fiscal stimulus, four short-term events will have long-term impacts
Former Atlanta Federal Reserve Bank President Dennis, who retired at the end of February Lockhart said that the Fed raised interest rates twice this year is a "reasonable" move. The market has been rushing long US dollar trading backfires, and the morale of short sellers is greatly encouraged. Pimco is currently staying away from the pound. BluEBAY is expected to have a bumpy road to Brexit
5 member states of the Organization of Petroleum Exporting Countries and non-OPEC oil-producing Countries Oman supports the extension of the production cut agreement. Kuwait said that the extension of the production cut should be 6 months
Goldman Sachs : OPEC extends the production cut agreement is unnecessary for rebalancing.
