htmlOn October 14, the central price of RMB was 6.4414, up 198 points, the central price of the previous trading day was 6.4612, and the onshore RMB closed at 6.4452 on the previous trading day.
Minutes of the Federal Reserve meeting: The committee members expect the reduction of the code will start from mid-November or mid-December
The Federal Reserve released the minutes of the Federal Open Market Committee (FOMC) meeting from September 21 to 22, which showed that participants generally agreed that it may be appropriate if the economic recovery remains roughly on track, it may be appropriate to gradually reduce bond purchases and close around mid-next year. Participants noted that if a decision is made to initiate a code reduction bond purchase at the next meeting, the code reduction process may begin with a monthly purchase schedule that begins in mid-November or mid-December.
The meeting minutes show that Fed officials are struggling to deal with uncertainty within their responsibilities. They discussed whether labor supply will rebound to 2019 levels and continued to bet that high inflation will fade as supply constraints in commodities and labor markets ease. The decision to reduce the code this year is also aimed at managing the risk of their misjudgment in terms of prices.
Goldman Sachs : The dollar's rise will stagnate
The Federal Reserve's pace of reducing bond purchases is getting closer and closer. The dollar index has been rising steadily, setting a new high in one year, and the short-term bullish dollar in the market is coming one after another. However, Goldman Sachs analysts have put forward different opinions, believing that the dollar's rise will stagnate.
Goldman Sachs believes that as the global market sell-off gradually subsides, investors will refocus on economic growth and the US dollar's rise will be buffered. Goldman Sachs analyst Zach Pandl said the outlook for soaring energy prices and the " stagflation " have occupied the market focus in the past month. Although inflationary pressures may remain strong in the short term, the correlation pattern of macro assets is expected to look more in line with "re-inflation" rather than "stagflation."
Most economists and central bank governors expect that as the global epidemic improves, the pressure on supply chains and energy markets will eventually be alleviated. This in turn coincides with the improvement in economic data.
Inflation remained high. The US CPI rose 5.4% year-on-year in September
As the shortage of labor and raw materials related to the epidemic continues to push up prices, U.S. inflation accelerated in September. Data released by the U.S. Department of Labor on Wednesday showed that the U.S. consumer price index (CPI) rose 0.4% month-on-month in September, higher than the previous value and expected 0.3%. Year-on-year, unadjusted CPI rose 5.4% in September, a slight rebound from 5.3% in August, but remained the same as in June and July, the highest level since 2008.
Specifically, the prices of groceries, gasoline and heating fuel, new cars, rents and furniture have all risen, while the prices of used cars, air tickets and clothing have fallen. Energy prices have risen rapidly recently, driven by global demand recovery, supply disruptions and the power of geopolitical . Data from the U.S. Energy Information Administration (EIA) shows that the average gasoline price has risen to $3.29/ gallon , the highest level in seven years. Higher energy costs will increase corporate costs, prompting the latter to pass on cost pressure to consumers.
Source: Sina.com
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