Preface
The USD/CAD exchange rate continued to fall in early European trading on Monday, closing at around 1.3730, down 0.20% on the day. This trend reflects the market's concerns about the recent performance of the US dollar, especially against the backdrop of uncertain global economic prospects. Recently, the US dollar has fluctuated against a variety of major currencies, and the market has become more sensitive to US economic data. This week, investors are focusing on the US wholesale sales data for June, hoping to find new clues about the US dollar's trend. However, before that, the trend of the USD/CAD was more affected by market sentiment and technical factors, causing the exchange rate to fluctuate in a narrow range.
In Canada, economic data is relatively stable, and the market's expectations for the future policies of the Bank of Canada are relatively clear, which provides some support for the Canadian dollar. Although the USD/CAD exchange rate has fallen, the market generally believes that this trend is more of a technical adjustment than a trend change. Therefore, investors are waiting for new economic data or policy signals to appear in order to decide on the next investment strategy.
AUD/USD rebounds strongly, RBA stance becomes key
The AUD/USD exchange rate continued its rebound on Sunday, successfully breaking through the key level of 0.6550. This rise was mainly driven by the willingness of the Reserve Bank of Australia Chairman Bullock to further raise interest rates. Recently, Bullock has expressed his concern about the upside risks of inflation on many occasions and hinted that the central bank may adopt a tighter monetary policy in the future. This stance provides strong support for the Australian dollar, causing the AUD/USD exchange rate to rebound rapidly in the short term.
RMB exchange rate midpoint in the interbank foreign exchange market on August 12, 2024:
USD/CNY was at 7.1449, down 11 points (RMB appreciation); EUR/CNY was at 7.8064, down 87 points;
The Hong Kong dollar/RMB was at 0.91658, down 7.5 points; the British pound/RMB was at 9.1139, up 438 points;
AUD/CNY reported 4.7127, up 510 points; CAD/CNY reported 5.2067, up 59 points;
100 yen/RMB reported 4.8486, down 516 points; RMB/Russian ruble reported 12.1203, up 1377 points;
NZD/CNY was at 4.2976, up 96 points; RMB/MYR was at 0.62604, down 21.7 points;
The Swiss franc/RMB was reported at 8.2527, down 671 points; the Singapore dollar/RMB was reported at 5.3928, up 46 points.
From a technical perspective, the AUD/USD breakthrough also has certain technical significance. Previously, the exchange rate formed a dense support zone around 0.6500, and tried many times but failed to break through effectively. This week's rise not only broke through this key level, but also opened up further room for growth, making the exchange rate expected to move towards higher resistance levels. However, the market also noted that the actual policy actions of the Reserve Bank of Australia may still take some time, so whether the upward momentum of the AUD/USD is sustainable remains to be seen.
USD/JPY pares losses as hawkish central bank sentiment mixes with risk aversion
The USD/JPY exchange rate pared its losses on Sunday and successfully reclaimed the key level of 146.00. This trend was mainly supported by two factors: first, the release of the Bank of Japan's hawkish summary of opinions, which showed the central bank's tightening stance on future monetary policy; second, the rise in global risk aversion market sentiment, which made the yen popular as a safe-haven currency.
The Bank of Japan has recently undergone significant changes in its communication strategy, gradually turning from its previous dovish stance to a hawkish stance. This change has caused the market to adjust its expectations for Japan's future monetary policy, thereby affecting the USD/JPY exchange rate trend. At the same time, rising global risk aversion has also provided additional support for the Japanese yen. Against the backdrop of an uncertain global economic outlook, investors are more inclined to hold safe-haven currencies, and the Japanese yen is one of them.
GBP/USD pares early gains, resumes downtrend
GBP/USD pared gains in early trading on Sunday, falling back below 1.2700, resuming a three-day losing streak. This move reflects market concerns about the recent performance of the pound, especially against the backdrop of poor UK economic data and rising global risk aversion.
Recently, the economic data released by the UK have been generally poor, which has intensified the market's concerns about the UK's economic growth prospects. At the same time, the rise in global risk aversion has also made investors more inclined to hold safe-haven currencies such as the US dollar rather than the British pound. These factors work together to put pressure on the GBP/USD exchange rate in the short term. From a technical perspective, the decline in GBP/USD has also broken through key support levels, further exacerbating the downward momentum.
EUR/USD rebounds to key level, ends losing streak
The EUR/USD exchange rate rebounded to around 1.0950 on Sunday, ending two consecutive days of decline. This trend was mainly affected by the market's improved expectations for Eurozone economic data and risk-averse market sentiment.
Recently, the economic data released by the Eurozone have generally been better than expected, which has restored the market's confidence in the Eurozone's economic growth prospects. At the same time, the rise in global risk aversion has also made investors more inclined to hold relatively stable currencies such as the euro. These factors have combined to cause the EUR/USD exchange rate to rebound in the short term. From a technical perspective, the rebound in the EUR/USD has also broken through the key resistance level, opening up space for further gains.
In today's foreign exchange market news, the policy trends of central banks and market reactions have become the dominant factors. However, in the context of the current complex and changing global economic situation, whether the policy choices of central banks and market reactions can effectively balance economic growth, inflation control and financial market stability remains a controversial issue. On the one hand, central banks need to respond to the challenges facing the economy by adjusting monetary policy; on the other hand, excessive intervention in the market may also bring unpredictable consequences. In the future, with the release of more economic data and adjustments to central bank policies, the foreign exchange market may continue to face fluctuations and challenges. Investors need to pay close attention to changes in the global economic situation and central bank policies in order to make wise investment decisions. #鄂B炒家 #Ripple于诉讼中取得部分胜利 #PlusToken相关钱包转移ETH #加密市场反弹 #加密市场反弹
