RMB Spot Early Morning Slump Weak Data Cited Concerns

< p > China's < a href= "http://www.91se91.com/news/index_cj.asp" > foreign exchange trading center < /a > on Monday, the central parity of RMB against the US dollar was reported at 6.1312, a sharp low opening of 111 points, and the lowest level since December 3rd last year. This is the first time that the central parity of RMB has been back to the 6.13 pass since its recent adjustment.

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"P >, driven by the sharp fall in the middle price, the yuan sharply lowered 200 points on the dollar in the early morning session of the US dollar on Monday, and quickly dropped to close to the 6.16 pass after the opening, with a drop of 0.51%.

As of 9:50 Beijing time, the renminbi was 6.1455 against the US dollar, or 0.29%.

The yuan closed at 6.1280 on Friday.

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< p > offshore CNH also fell rapidly due to the sharp opening of the intermediate price. The early trading price once fell below the 6.13 pass, hitting 6.1305 of the intraday low.

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Last Friday, the US released the February non farm payroll data better than expected, driving the low US dollar rally in P.

According to the data, the number of non farm payrolls increased by 175 thousand in the US after the 2 quarter adjustment, which is expected to increase by 149 thousand, and the former value will increase by 113 thousand. In February, the unemployment rate will rise to 6.7%, and the labor force participation rate will be 63% in February.

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< p > Bernanke, former chairman of the Federal Reserve, said in March 7th that the latest US report on non farm employment was very positive and consistent with the assessment of the recovery of the US economy.

Bernanke believes that US natural gas production on land has reduced energy costs, contributed to improving the employment situation and has become a major highlight in the US economy.

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According to the data released by China's < a href= "http://www.91se91.com/news/index_cj.asp" > < /a > Saturday (March 8th), China's exports in February decreased by 18.1% (US dollar denominated, the same below), compared with the expected increase of 10.6% in January, compared with that in January. In February, imports increased by 10.1% over the previous year, up 10% last month; the trade deficit in February was 22 billion 980 million US dollars, and January was a surplus of 31 billion 869 million US dollars in February.

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< p > China appeared last month < a href= "http://www.91se91.com/news/index_cj.asp" > trade deficit < /a > in March 2013.

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< p > the data released by the Customs show that the cumulative exports in 1-2 fell by 1.6%, which is the worst difference in the past 20 years (except for the global financial crisis) and 1999 (emerging market crisis in 1998), the most intelligent financial terminal ending 1995 data.

Analysts pointed out that this shows that China's exports have stall risk, and the negative impact of long-term appreciation of the RMB has been very obvious.

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< p > in addition, data released by the National Bureau of statistics at the weekend showed that in February this year, the national consumer price level (CPI) increased by 2% over the same period last year, or 0.5 percentage points lower than in January, a nearly 13 month low.

Producer price index (PPI) fell by 2% over the same period last year, a further decline from 1.6% in January, a seven month low.

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P > PPI continued to descend for two years in succession and further expanded its decline in February, and also with many previous economic indicators (such as PMI), indicating that China's economic downside pressure is not small, the first quarter economic mild fall has been inevitable, which will weaken the pressure of the appreciation of the RMB.

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