QE Scale Further Reduce The Weak Shocks Of RMB Exchange Rate

< p > as expected by the market, the US Federal Reserve kept its benchmark interest rate close to zero, and announced that it would reduce the monthly asset purchase scale from 55 billion US dollars to 45 billion US dollars from May, while promising to continue to keep monetary policy loose.

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P, a statement issued after the Fed meeting, said that since March, the US economy has started to pick up after a sharp slowdown in the severe cold weather.

In addition, the fiscal policy has weakened the economic restraining effect, and the inflation level is lower than the long-term goal, but the long-term inflation is expected to be stable.

The Fed believes that the US economy as a whole will have enough potential to support the continuous improvement of the job market, and the risks faced by the economy and the job market are basically close to equilibrium.

However, given the fact that the US economy grew much lower than expected in the first quarter, the US dollar trend has not been boosted by the news and has fallen slightly against major non US currencies.

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< p > the ECB's attitude towards the launch of the "European version of QE" is wavering.

Delagi, the European central bank governor, spoke to German parliamentarians, saying that the bank is far from buying assets in large scale in the capital market (QE).

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< p > analysis of an Bang consulting researcher said that the information released recently by the European Central Bank on QE is very contradictory. This is the embodiment of the "split" in the European market. The European Central Bank is busy trying to pacify the different political forces in the EU, so the possibility of the EU's launch of QE in May is very small.

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< p > the foreign exchange analyst of the British financial group said that it is currently at the 1.38 level of the euro against the US dollar, and the upper resistance is at 1.3950. Once the important point of 1.40 is exceeded, the euro will continue to rise to 1.42 near the US dollar.

If the euro exchange rate continues to rise in the past two months, the ECB will seriously consider launching the "a href=" //www.sjfzxm.com/news/index_c.asp "QE" /a.

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< p > the two trading day after this week, the domestic market is closed due to May Day.

In the first three trading days, the yuan dropped to 6.2650 against the US dollar in the spot market, breaking a new low of a year and a half ago.

This year, the yuan has depreciated 3.5% against the a href= "//www.sjfzxm.com/news/index_c.asp" > US dollar < /a >, and has seen the increase of last year.

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< p > Standard Chartered Bank issued a report showing that the recent weakening of the Renminbi or the expectation of the unilateral reversal of RMB appreciation by the monetary authorities.

The report predicts that in the short term, < a href= "//www.sjfzxm.com/news/index_c.asp" > RMB /a "will probably drop slightly against the US dollar, or fall below 6.28, or even near 6.3, but will rebound moderately in the second half of the year.

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< p > Steve Blaise, chief investment strategist of Standard Chartered wealth management department, said that the central bank's policy objective is greater fluctuation of the RMB exchange rate instead of sustained depreciation. The current exchange rate level provides an opportunity to buy domestic RMB bonds.

At present, the risk of RMB bonds is lower than the return ratio, and the domestic RMB bond market and offshore RMB bonds have certain attraction.

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The depreciation of RMB P does not seem to affect the use of RMB overseas.

The latest report released by the global Interbank Financial Telecommunication Association (SWIFT) showed that the RMB settlement volume of offshore centers increased significantly, prompting the renminbi to rise to seventh place in the global payment currency rankings.

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< p > SWIFT data show that in March 2014, the share of RMB activity rose to a record high, rising from 1.42% in February 2014 to 1.62%, consolidating its position as the seventh largest global payment currency.

During March, the amount of Renminbi payment increased by 29% over February 2014.

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At the same time, Singapore's RMB payment increased by 375% from March 2013 to March 2014, becoming the first place in the global payment value of RMB (excluding mainland China and Hongkong).

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