The Renminbi Recovered Against The Dollar On Tuesday.

China's GDP data were better than expected, and the renminbi recovered somewhat from the US dollar on Tuesday, and the middle price also rebounded.

Market participants believe that short-term economic data will have an impact on the recovery of the renminbi. But because of the difference between domestic and international markets, the existence of arbitrage warrant makes the appreciation of short-term domestic exchange rate limited.

At the close, the US dollar / Renminbi inquiry system closed at 6.2140, a decrease of 65 points compared with the previous trading day.

They also said that after the announcement of the economic data, the settlement market was heavier and the market supply and demand were more balanced.

The central bank's central parity is also conducive to stabilizing the market's exchange rate expectations and promoting the short-term strengthening of the renminbi.

According to the data released by Hongkong Finance Association, the fixed price of US dollar / Renminbi (Hongkong) spot exchange rate in January 20th was 6.2201/6.2206.

"Better than expected GDP data is a good thing for the renminbi, leading to an appreciation of CNH and a direct impact on the domestic (US dollar) decline."

A city trader said.

Chen Hufei, senior economist at Bank of communications, believes that China's GDP growth in 2014 was slightly ahead of the market's pessimistic expectations. This was boosted by a rise in the RMB spot exchange rate during the day.

The policy intention of the central parity initiative to guide the RMB to maintain stability is also conducive to the short-term strength of the exchange rate to a certain extent.

Chief economist of Guotai Junan

It is believed that the short-term economic data will have an impact on the recovery of the renminbi, but it is a consensus that the long term appreciation of the RMB has basically ended.

Although China's gross domestic product (GDP) growth in 2014 was the lowest in 24 years, the investment and consumption remained stable, and the proportion of three production increased. The main data were also accurately set at the target area set at the beginning of the year, indicating that China's macroeconomic regulation and control standard for reducing quality and speed up is up to standard.

In the offshore market, the 1 year US dollar / RMB non deliverable forwards reported RMB 6.3155/6.3205 yuan.

Global

The US dollar rose to a one week high against the yen on Tuesday, after China's economic growth figures were not as bad as many feared, restraining the yen's risk appetite.

The Hong Kong dollar / RMB inquiry system closed 0.8015, 10 points lower than the previous trading day; the 100 yen / RMB inquiry system received 5.2550, reduced 521 points from the previous trading day; the euro / RMB inquiry system received 7.19890, increased 19 points from the previous trading day; the pound / RMB inquiry system received 9.3836, reduced 361 points from the previous trading day; the Australian dollar / RMB inquiry system closed 5.0944 from the previous trading day by 165; the nyst / RMB inquiry system received 4.8080, and reduced 418 compared with the previous paction day; the POE / RMB inquiry system closed down to 4.64565 and reduced the points compared with the previous trading day.