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CNY Depreciated 70 Basis Points

RMB against the U.S. dollar depreciated by 70 basis points – Money Converter Brisbane

Sina foreign exchange hearing November 28, the central parity of RMB against the US dollar reported 6.5944. 70 basis points lower than the previous day’s central parity. Overnight markets saw the dollar rise out of earlier weakness as traders prepared for the progress of the legislative process in the U.S. tax reform plan and the confirmation hearing from Federal Reserve Chairman Powell’s Fed chairman. Market participants said that during the year. There was still uncertainty about the trend of the U.S. dollar. In recent days, interest rates on the domestic currency market have also slowed down. Money Converter Brisbane.

There is not much room for appreciation of the renminbi against the U.S. dollar. But the risks of devaluation are modest.
Huang Zhilong, Director of Macroeconomic Center of Suning Financial Research Institute. Believes that the U.S. dollar exchange rate will still show a two-way volatility this year. However, the Fed may raise interest rates again in December. The U.S. dollar may face some pressure of appreciation in the short term.

Correspondingly, There will be some pressure of devaluation.

However, on the whole, the two-way fluctuation of RMB against the US dollar will continue.
Foreign investors passed Hong Kong dollar speculation Hibor hit a new high after the financial tsunami in 1 month.

With the year-end approaching. The interest rate increase in the United States will soon start. Coupled with the fact that foreign investors intending to participate in the Hong Kong market. They have borrowed into the Hong Kong dollar. The interest rate on the Hong Kong dollar was lifted further yesterday. The interest rate on one-month borrowings rose 0.92% to hit a new high after the financial tsunami. Money Converter Brisbane.

According to data from the Treasury Markets Association. The one-month interest rate of demobilization was reported at 0.92%. Up 11 pips from last Friday (24). The interest rates on two-week demotion increased to 0.84% and 0.85% respectively. Three Monthly interest rates rose 1%, 1.05%, Tongchuang nearly 9-year high. Overnight interest rates fell about 6 points, 0.63%.

For the further rise in the interest rate of demolition.

Wing Lung Bank Treasurer Xiaoqi Hong believes that mainly due to the impact of the end of the year. The expected future interest rates will continue to follow the interest rate upward trend.

The Sing Tao Daily quoted Lim Joo-hong. Head of research at Shangshang Treasury Department. As saying that the interest rates on the loans have been lifted. Apart from the year-end ties, the Central American and U.S. countries also have a great chance of raising interest rates next month. At the same time, Month Hong Kong dollar funds, in an attempt to participate in the Hong Kong market. Or with the stock market activities. But also stimulate the interest rates on the rise, is expected next month, 1 month or over 1% interest rate. Money Converter Brisbane.

In fact, Hibor was on a sharp rise in 1 month last Friday. Surpassing 9 pts on that day. After hitting an 11 pips yesterday. Hibor has risen 28% or 20 pts in 1 trading session in just 2 trading days. Hibor also gained 6 pips to 1.05% in the other three months. Hitting a high of the end of 2008 with Hibor in January.

Hibor and 1-month Libor in 1 month yesterday narrowed to 0.41%.

Although the rise of the demobilization rate caused the market to worry about the flow of capital. The Hong Kong dollar rose at the same time yesterday. Rising 7.8 from yesterday’s level of 7.81 on Thursday (23).

Lin Junhong said he believes Hibor will have a chance to rise above 1% by the end of the year. By that time, even if banks do not raise the prime rate. They may also raise interest rates (interest rates on mortgages) to raise the cap. Hibor rose to 0.92% in 1 month. The mortgage (mortgage) plan, which is generally accepted as H + 1.3% in the market, has hit a ceiling of 2.15%. Even if there was a passing of a big bank such as HSBC last week. The preferential treatment of H + 1.28% for individual mortgage applications with high loan amount has reached the ceiling level. Money Converter Brisbane.

Hong Kong’s Ming Pao quoted Liu Yuanyuan. Director of Meridian Mortgage Referral Marketing. Saying that the interest rate of the disbursement will not fall back. It will gradually disappear on the basis of its advantages. Although H is still expected to be the mainstream mortgage plan in the fourth quarter according to plan. Due to the rather attractive fixed rate plan in the market, we believe the rate of fixed rate will rise.

NEW YORK MARKET – US Dollar Rises The euro retreated from its $ 1.20 target

The United States announced that new home sales in October were stronger than expected. With the dollar slashing on Monday. Kaplan, a Fed official, has given investors another look at the Fed’s December policy meeting. With the optimism about Germany’s economy and its political deadlock expected to end. The euro has risen to close to the $ 1.20 psychological level. But then cut the gains, back to lower.

The dollar index rose 0.1% to 92.896, an anti-morning loss.

The euro fell to 1.1902 U.S. dollars. Last Friday, the euro broke through 1.19 U.S. dollars. Breaking the barrier for the first time since September.
Earlier in the day, the dollar fell to a two-month low against the yen. In the most recent deal, the dollar dropped to 111.08 yen, from 111.57 late last Friday.
US dollar opened trendy. Since then, the United States announced strong new home sales data. Kaplan, president of the Dallas Fed Bank, said it is in favor of raising interest rates in the short term and the dollar rises accordingly. Money Converter Brisbane.

Analysts said Kaplan’s conversation did not reverse the dollar, the dollar rose today due to investors to adjust positions.
On Thursday, the Senate will vote on the tax reform bill. Powell, the Fed’s nominee, will hold a hearing on Tuesday. Wednesday and Thursday, the United States will release GDP and inflation data.

Euro investors are still in Germany’s political scene, and Social Democrats have agreed to negotiate with other parties, meaning there may be no need for an early election. But SPD officials say this does not mean they are prepared to form a coalition government with Merkel’s CDP.

The central parity of RMB against the U.S. dollar on the 27th 6.5874 devaluation of 64 basis points

Sina foreign exchange hearing November 27, the central parity of RMB against the US dollar reported 6.5874, 64 basis points lower than the previous day’s central parity.
The weekends, the dollar index fell 93 integer mark. The dollar index has been losing ground in the past week alone. Bad economic data, especially the dovish meeting minutes, made the United States hit a two-month low. This week should focus on Fed Chairman Yellen, Powell, chairman-elect and other heavyweights debut, in addition to the U.S. Senate will hold a tax reform bill vote.

 

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