The yuan population reduced the 8th consecutive week; Slightly altered dollar
Today, China's Chinese yuan continues to decline and is currently decreasing by 6% compared to the dollar since June. US Dollar Index, track USD versus other currency basket, slight change, at 94.99 before information on the U.S. 7 month employment report will be announced during the day.
The USD/CNY rate increased by 0.4% to 6.8713, analysts believed that the U.S. Treasury bond interest rate increased plus the stronger dollar that made the yuan dong stronger.
"Currently, the market has had a reason to calm down even though the Chinese yuan continues to decline; So far, Yuan has returned to the rate at the beginning of the year 2017. Last year was very important in political matters so that authorities could capture the capital line, "Freya Beamish, Pantheon Macroeconomics Ltd. said." At this stage, trade tensions are making the yuan depleted, and we have seen modest capital flows to perform reconstruction. For example, if Trump actually impose a higher tax rate, that may decrease the value of yuan. If we return to the end of the year 2016, then I think we will begin to see markets outside China react to the decline of the Yuan dong, "she added.
Meanwhile, in a note Aug. 1, Deutsche Bank AG said they expected the NDT transactions at 6.95 and 7.40 versus the USD at the end of 2018 and 2019, compared to previous forecasts of 6.80 and 7.20.
The U.S. dollar received some support during the previous session from trade tensions that had returned to focus this week but remained less changed on Friday, when investors waiting for monthly job report are announced today to have Market signals.
According to a survey by the Reuters economist, non-agricultural employment is likely to increase by 190,000 in July after an increase of 213,000 in June.
Ichikawa at Sumitomo Mitsui Asset Management said: "A good job report will boost the reaction of the markets, with rising interest rates and the dollar rising".
Meanwhile, the 10-year Treasury bond interest rate of the United States increased 0.06% to 2.988%.
USD/JPY rate increased by 0.04% to 111.70. The dollar rose against the rest of the week after the Japanese bank adjusted its monetary policy but decided to keep the interest rate low.
The USD/CNY rate increased by 0.4% to 6.8713, analysts believed that the U.S. Treasury bond interest rate increased plus the stronger dollar that made the yuan dong stronger.
"Currently, the market has had a reason to calm down even though the Chinese yuan continues to decline; So far, Yuan has returned to the rate at the beginning of the year 2017. Last year was very important in political matters so that authorities could capture the capital line, "Freya Beamish, Pantheon Macroeconomics Ltd. said." At this stage, trade tensions are making the yuan depleted, and we have seen modest capital flows to perform reconstruction. For example, if Trump actually impose a higher tax rate, that may decrease the value of yuan. If we return to the end of the year 2016, then I think we will begin to see markets outside China react to the decline of the Yuan dong, "she added.
Meanwhile, in a note Aug. 1, Deutsche Bank AG said they expected the NDT transactions at 6.95 and 7.40 versus the USD at the end of 2018 and 2019, compared to previous forecasts of 6.80 and 7.20.
The U.S. dollar received some support during the previous session from trade tensions that had returned to focus this week but remained less changed on Friday, when investors waiting for monthly job report are announced today to have Market signals.
According to a survey by the Reuters economist, non-agricultural employment is likely to increase by 190,000 in July after an increase of 213,000 in June.
Ichikawa at Sumitomo Mitsui Asset Management said: "A good job report will boost the reaction of the markets, with rising interest rates and the dollar rising".
Meanwhile, the 10-year Treasury bond interest rate of the United States increased 0.06% to 2.988%.
USD/JPY rate increased by 0.04% to 111.70. The dollar rose against the rest of the week after the Japanese bank adjusted its monetary policy but decided to keep the interest rate low.
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