The RMB has soared above 7! The new Taiwan dollar has exceeded 30.5 yuan (photo by reporter Chen Meiying)
[Reporter Chen Meiying/Taipei Report]China’s easing of lockdown measures and the fall of the US dollar caused the FOB RMB price to break through the 7 yuan mark in the early hours of the morning. sharp increase of 1.4 points.
The US nonfarm report last week and the strong performance in wage growth once prompted the dollar to rebound, but it fell in late trade as investors pushed forward profits ahead of the weekend.
The new Taiwan dollar reflected the weakness of the US dollar this morning. It appreciated by 2.5 cents and was offered at 30.58 yuan. Then the offshore renminbi soared and the Korean won went from depreciation to appreciation. Since the end of the month, the price has reached a new high in more than 3 months.
Taiwan stocks are not afraid of US stocks closing lower and opening lower and higher, recapturing the “ten thousand and five” again, and the Taipei stock market has shown a doubling situation.
Following the US nonfarm report, November inflation data due this week will be an important key indicator ahead of the December Fed meeting, even as the Fed’s Powell publicly said interest rate hikes they will be slowed from December, but how much will the target interest rate be in the end? The chances of a recession next year and when to stop raising interest rates will be the next issues investors will focus on, which will also affect financial market trends.
China’s gradual easing of lockdown measures also pushed the renminbi exchange rate to continue rising. Onshore and offshore renminbi prices rose above the $7 to $1 mark in early trading, and the FOB price hit 6.9624, a new high since mid-September.
Take the pulse of the economy with one hand
Click me to subscribe to the Free Finance Youtube channel
No need to smoke, no rush, now use the APP to watch the news and guarantee to win the lottery every dayClick me to download the APP
According to how I see the activities
Friends already added, thanks
