RMB Status Quo
The world being together to cut interest rate, increasing the volatility of RMB
The U.S. dollar exchange rate volatility will still be larger in the future, which will increase the exchange rate volatility of the RMB against the U.S. dollar .In the current environment, the U.S. dollar against other currencies maintains the strength while the exchange rate of RMB against U.S. dollar continues to move up.
RMB Deposits & Foreign Exchange Deposits
Yesterday (Oct.10), the central bank Shanghai headquarters issued the Shanghai currency operating report. From the data, it showed that RMB deposits in Shanghai have slowed down in the third quarter slowdown while the foreign exchange deposits have greatly increased.
The continued growth of New York gold futures prices has descended
Because of profit-taking by investors, the growing rate of the U.S. dollar, oil price falling a lot, and other factors, the New York Mercantile Exchange had a sharp concussion of gold futures prices on the 10th. Each ounce was down 27.50 dollars than the previous session, closing at 859 dollars, with a decrease of 3.1 percent.
Guangzhou has not approved measures to stimulate the purchase of house, intending to reduce the supply of residential land
For the second time the central bank cutting interest rate and lowering bank deposit reserve, was considered the country’s act to save the real estate market. As for Guangzhou, the related government departments announced that Guangzhou has not approved measures to stimulate the purchase of house for saving market.
Global Stock Market all reduced, so A-share is expected to break through firstly
Recently, the financial tsunami swept across the world, the shares in many countries declined one after another, overseas investors’ confidence is in the collapse condition. In the global financial crisis, China’s A-share market has clearly shown resilience, far less than the decline in the around markets.
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