Policy Guidelines Yen Continues To Slide Against RMB

The detailed results of the Japanese central bank's March short price survey released on Wednesday (April 2nd) showed that the average price of consumer prices in the coming year was 1.5% on average, which means that the central bank's < a href= "http://www.91se91.com/news/index_c.asp" > inflation target < /a > (2%) may be difficult to achieve.

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< p > survey also shows that enterprises expect three years and five years after the annual increase in consumer prices will be 1.7%.

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On Tuesday (April 1st), the short economic survey released by the Bank of Japan showed that business confidence had not improved in the three months to March, and the current economic situation was much weaker than that in 1997 when the consumption tax was raised in P.

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< p > data show that the final value of the Manufacturing Purchasing Managers Index (PMI) of France in March was 52.1, the highest since June 2011, and the first time in 2012 to exceed the 50 divide.

According to the statistics released by the European Union Statistics Bureau in April 1st, the unemployment rate in the euro area was 11.9% in February and 35 thousand in the same period.

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< p > Germany's March Markit/BME Manufacturing Purchasing Managers Index (PMI) value was revised to 53.7 at the initial value of 53.8, which was also lower than the February final value, indicating that the industry activity slowed down because output, new orders and export orders growth rate were lower than last month.

Data released by market research firm Markit in April 1st showed that the final value of manufacturing PMI in the euro area fell to 53 in March, which is in line with expectations.

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< p > euro zone will announce the fourth quarter GDP final value, if the data is better than expected, it is likely to trigger the euro back to the top 1.3830.

Most analysts now expect the ECB President Delaki (Mario Draghi) to declare that the central bank is ready to take action on Thursday's meeting resolution, but otherwise there will be no other, and may also be highly concerned about the suppression effect of a strong euro on consumer prices, but it is only limited to that point.

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"P" > overnight "a href=" http://www.91se91.com/news/index_c.asp "> foreign exchange" /a ", the US dollar index is still no progress, basically maintaining relatively low operation.

The euro has maintained a strong strength against the US dollar, and is stubbornly hovering around 1.38.

The euro has fallen after the rise of the renminbi, while the commodity a href= "http://www.91se91.com/news/index_c.asp" > currency > /a > is obvious, or is now reversed, but it needs further observation.

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< p > today the market will also have a non-agricultural forward-looking data ADP, but in view of the difference between ADP data and non-agricultural products, the influence on the foreign exchange market may be discounted.

The euro has shown a strong trend against the renminbi.

On the trend, there is a way to build up momentum.

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< p > from a technical point of view, the support now maintained near 8.5620, if we continue to adjust downward and fall below 8.5500, the overall trend will show the pace of further decline, while the actual adjustment process will increase.

The upward pressure is near 8.5880.

Only after breaking the top can we develop towards 8.6454.

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< p > USD continues to be strong against Japanese yen. It is now trading near 103.58 of the day, and 100 continues to bear on the RMB, eliminating the MA288GCF 5.9700 near the 4 hour map.

The US's three largest index, New York's strong intraday trend, shows that the risk appetite has warmed up, and the yen has been undermined.

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Less than P, the US dollar rose to 103.77 against the yen or before the breakthrough, to 104.

The 100 yen fell to 5.9706 against the renminbi, and it was technically stable from below.

However, foreign exchange market gains may still be limited because of the upcoming US non farm payrolls on Friday.

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< p > from the technical aspect, at this stage, the yen to RMB will show a downward trend, and it will seek support downward. In actual pactions, only when the callback reaches 5.9900 above, will it be able to show the situation of return.

And this possibility will not exist in the four hour chart.

There is no kinetic energy to rebound.

Follow up investors are advised to observe.

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