China'S Market Is Closed: The Foreign Exchange Market Maintains A Narrow Fluctuation Pattern.

China's latest official manufacturing data sluggish in August, fell for the first time in six months and hit the lowest level in 2012 and August.

According to the analysis by Bank of China traders, investors believe that the poor performance of China's economy will reduce the demand for commodities, resulting in a decline in commodity currency prices, the most obvious decline in the Australian dollar, and a drop to 0.7 in the US dollar, the lowest in nearly seven years.

Meanwhile, US manufacturing growth slowed to its lowest level in two years in August.

The market has become more and more worried about global economic growth. Stock markets in developed and emerging markets have generally fallen, and market risk aversion is heating up again. The euro and yen are forced to liquidate.

In the first three trading days of this week, the central parity of RMB continued to rise, and the Yuan went back to the 6.36 line against the US dollar.

At the same time, the spot exchange rate of RMB against the US dollar is stable at around 6.4.

Wang Tao, China's chief economist at UBS Securities, predicts that the renminbi will continue to depreciate in the next year, subject to capital flows and market expectations, but there will be no significant depreciation.

Or 6.5.

However, the US car sales in August and the construction expenditure in July increased strongly.

On the evening of 4, the number of non farm payrolls increased by 173 thousand people after the August quarter adjustment, but the unemployment rate was good, and the Ministry of labour and industry indicated that the data in August had been revised.

The market is still looking for it.

The next step is to raise interest rates.

Rosengren, President of the Boston fed, has said publicly that the Federal Reserve will only gradually increase interest rates in advance or postpone a few months.

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Zhu Wenhao, deputy chief Trading Officer of easy faith headquarters in China, judged that considering the global market volatility, the Fed's interest rate hike in September is unlikely to increase interest rates at the end of the year.

From the technical chart, the US dollar index continued to oscillate, and the shock interval remained between 93 and 98.

Analysts suggest that the US dollar index can be selected in the interval.

The Fed's rate hike is expected to lead to constant pressure on emerging market currencies.

Tracking Asia's ten most active currencies (except Japanese yen) against the US dollar, the Bloomberg Morgan chase Asia dollar index fell 2.6% in August, the biggest monthly decline since May 2012.

The index shows that in August, Malaysia's ringgit exchange rate fell 17%, the worst performing Asian currency.

In addition, the Indonesia shield exchange rate fell 3.7% in August, the biggest monthly decline in nearly 11 months.

The exchange rate of the India rupee, the Thai baht and the Philippines Peso also decreased significantly.

According to the report issued by the bank, the turbulence in emerging market currencies will continue in the third quarter of this year, especially in emerging market currencies related to commodities.