China's economic pressure is intensifying, and the exchange rate is approaching last year's high 😿
Bad news about China continues, with reports that Zhongrong Trust was unable to pay out $19 million in wealth management products over the weekend due to liquidity issues, coupled with earlier concerns about Country Garden and significant weakness in Chinese data, aggravated foreign exchange traders In anticipation of the further weakening of the RMB in the coming months, spot and options trading volumes are more than three times higher than usual. The USD/CNY spot has exceeded 7.25, heading towards the high of October last year (7.32), and there will be another one this morning. A series of economic activity data and one-year loan interest rates are released.
