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China US Dialogue Focuses On Exchange Rate &Nbsp; Commodities Trend Stabilizes.

2011/5/16 17:00:00 40

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The third round of China US strategic and economic dialogue opened in Washington, D.C. on Monday. The appreciation of the renminbi has become the focus of attention.

Over the past 5 years, the US dollar has gone against the RMB.

exchange rate

It has dropped by nearly 19%, and has recently fallen below the 6.5 threshold.

There are still great differences between the two sides.

China

finance

Vice Minister Zhu Guangyao said that the goal of the RMB exchange rate system reform is to increase elasticity and promote the formation mechanism of exchange rate.

Geithner, the US Treasury Secretary, called for faster appreciation of the renminbi.

During the dialogue, Chinese Customs released data on Tuesday, showing that China's trade surplus in April was 11 billion 420 million US dollars, significantly exceeding the expected market surplus of US $3 billion 50 million. The widening of the surplus further increased the pressure of RMB appreciation.

On Monday, the central parity of the RMB exchange rate was 6.4988, and the exchange rate changed to a new high, reaching 6.4948 after the end of Wednesday's dialogue.

Last Friday, the labor department released data.

In April, the number of non-agricultural employment increased by 244 thousand, an increase of 185 thousand over analysts' expectations.

With the fall in oil prices and the rise in employment, the US stock market and commodity market have stabilized and the commodity price index has risen slightly compared with last week.

The US dollar continued to climb after the rally last week.

European debt crisis continues to suppress euro and precious metals and push up

dollar

。

On Monday, S & P lowered Greece's long-term sovereign rating from BB- to B, and the rating outlook remained negative.

The market expects Greece to restructure its debt.

Standard & Poor's also warned the government of Portugal's banking rescue that Portugal might face a risk of downgrading sovereign ratings.

Portugal is one of Europe's largest gold reserves, and it is rumoured that it will be forced to sell precious metals in exchange for EU aid.

Bulk this week

commodity

The trend continues to focus on the world's attention.

Crude oil stabilized after last week's crash.

On Wednesday, the energy data released by the US Energy Information Department increased more than expected, and crude oil inventories have increased for three consecutive weeks.

The Chicago mercantile exchange increased the margin of crude oil futures by 25% in May 10th.

Goldman Sachs, who has been singing empty, suddenly changed its tune and predicted that oil prices would exceed US $114.83 / barrel in 2012 before the global supply continued to tighten.

In terms of precious metals, the silver dollar fell last week as the Chicago commodity exchange (CME) repeatedly raised its margin, and this week continued to fall.