RMB Against The Dollar Thursday Afternoon Trading Data To Create A Weak Atmosphere

(P) RMB against the US dollar (6.2126, 0.0121, 0.20%) was slightly weaker on Thursday (April 10th), and the middle price was also slightly lower.

Trade data in early trading left or right market sentiment. Although the trade surplus was higher than market expectations, the growth rate of imports and exports in March decreased by two times.

< /p >

< p > US dollar / RMB inquiry system was reported at 6.2065 noon and 6.2005 on Wednesday.

The central bank [micro-blog] has an intermediate price of 6.1510, and the middle price on Wednesday is 6.1490.

< /p >

< p > overseas non deliverable Forex foreign exchange (NDF) market, < a href= "http://www.91se91.com/news/index_cj.asp" > US dollar < /a > / RMB one year varieties latest reported in 6.2320/50, late Wednesday was 6.2160.

The latest offshore dollar / RMB spot report in Hongkong was 6.2040/54, and the last trading day was 6.1905.

< /p >

< p > China Customs announced earlier that exports in March dropped by 6.6% compared with the same period last year, while imports fell by 11.3% compared with the same period last year. The figures are far below the consistent expectations of the early stage of the market, but official statements and market participants believe that the import and export of the 2 quarter will resume growth.

< /p >

"P" traders said that the a href= "http://www.91se91.com/news/index_cj.asp" > trade data < /a > the first time of the release of the RMB even because the surplus increased slightly stronger, but then the reverse.

The market thinks that the level of trade surplus of 7 billion 700 million US dollars is relatively small, but it helps regulators to maintain relatively weak exchange rate and has a neutral impact on the market.

< /p >

< p > traders pointed out that in the 1 quarter, the a href= "http://www.91se91.com/news/index_cj.asp" > trade surplus < /a > was flat. This is the environment for RMB to maintain a weak environment. It is expected that USD / RMB will run above 6.1950 in the short term.

Other traders said that the earnings figures do not seem to be significant now. The key is that both the growth rate of imports and exports has declined, indicating that the economic situation is not good enough, which will also affect market sentiment.

However, it is not easy to say that the current round of RMB rebounding has ended.

< /p >

In the international market, the dollar index (79.4500, -0.0700, -0.09%) fell for 4 days. The Asian market was in a weak position near the 3 week low. After the minutes released by the P, the US dollar was disappointed.

< /p >

< p > Beijing time 13:21, USD / RMB 6.2055.

< /p >

< p > related links: < /p >

< p > Sydney local time April 9th, Bank of China [1.52% Capital Research Report] Sydney branch successfully issued 2 billion yuan "ocean debt" ("Oceania Bond"), with a fixed period of 2 years and a fixed interest rate of 3.25%, becoming the first RMB bond in the Australian market.

< /p >

< p > as the first time to test the RMB bonds in the Australian market, the public offering has been actively responded by local investors in Australia. The total subscription amount is more than 4 billion 900 million yuan RMB, over 2.45 times the subscriptions, and the local subscription amount is 27.5%.

The main underwriters of this issue are Bank of China, ANZ, CBA, NAB, Royal Bank of Scotland (RBS) and Westpac (Westpac), and have submitted applications to the Commonwealth of Australia Stock Exchange (ASX).

If approved, it will become the first Renminbi denominated bond listed on ASX.

< /p >

< p > Bank of China is the longest running bank in Australia, the largest asset scale, the broadest customer base, the strongest profitability, the only Chinese bank that can provide both corporate and personal financial services. It is the first bank to carry out RMB business in Australia and is absolutely dominant in the Australian dollar market.

In 2009, Bank of China Sydney branch took the lead in providing RMB international settlement and company, personal deposit and loan business in Australia.

In 2011, the Bank of China Sydney branch took the lead in providing RMB clearing services in the agency mode.

In February 2014, the Sydney branch of the Bank of China signed the RMB clearing agreement with the Australian Stock Exchange (ASX) to jointly develop the first RMB clearing system in the history of Australia.

< /p >