RMB Midday Price Rises Slightly During The APEC Period, While The Market Is Stable.

The renminbi rose slightly against the US dollar on Wednesday (November 5th) afternoon following the middle price. Traders pointed out that the market as a whole is relatively balanced in supply and demand, and has a light day trading. It is expected that the exchange rate will remain stable during the APEC (APEC) meeting.

One state Bank Traders said the former unilateral appreciation It is expected that no longer exists, and the fourth quarter may not focus on foreign exchange settlement. Now it seems that the market is more balanced, and the supply and demand are more focused on real demand. It is estimated that the RMB exchange rate will also be stable in the year, and the 500-600 points are possible.

A foreign trader said, "the rise of the middle price is reasonable, it may be the APEC meeting, the middle price has a certain guide to the market, the overall market is stable, but it may be slow in the later period."

November 5th -11, China The week of APEC leaders' meeting will be held in Beijing in 2014. During this period, the last high-level official meeting was held on -6 November 5th, the twenty-sixth Ministerial Conference of APEC was held on November 7th -8, and the twenty-second informal meeting of leaders of APEC was held on November 10th -11.

Traders also said that in the next two months, the RMB exchange rate market will not have the same volatility as in the first half of the year. The market will be relatively stable next year, but there is still room for further improvement. After all, China's trade surplus is still in the market, and the market will often come up with a settlement plate to support the appreciation of the renminbi.

The newly released HSBC October China service industry PMI is relatively optimistic, and it also supports the RMB exchange rate. Data show that HSBC China's service purchasing managers' index (PMI) in October was 52.9, continuing a mild callback after hitting a year and a half high in August, while the employment sub index continued to rise, indicating that the service sector is still in steady expansion.

In the global market, the US dollar fell overnight, as investors decided to gain a profit of four consecutive days, and the US dollar against the yen and the euro reached a multi-year high in this rally.

At 13:22 Beijing time, the US dollar was RMB 6.1122 yuan against the yuan, and it received 6.1152 yuan on the previous day. Today, the median price of US dollar to RMB is 6.1503 yuan, and the middle price of the previous day is 6.1543 yuan.