RMB Devaluation And US Dollar Strength In International Market: Luxury Brand Or Price Adjustment

Since the euro has depreciated against the yuan since last year, it has made many

The card will start the global price adjustment strategy, and the exchange rate or the consumption power of consumers will be shrinking.

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The monthly appreciation is almost 10%, and shopping is no longer in hand.

Yesterday was the fourth day of the consumption of Xiaoxi to Europe. She said that the exchange rate of the euro against the RMB changed every day. "Seeing that the euro rose to 6.7 from the beginning of August to 7.26, I regret not having changed more cash at the beginning of the month."

Yesterday, the offshore renminbi rose to 0.08% against the dollar at 6.4053 yuan.

Affected by the central bank's double fall,

The index rose to around 95.35 yesterday after a three day plunge, and the euro and yen also returned slightly.

Yesterday, the euro traded 7.2696 yuan against the central parity of RMB, down 1175 basis points, and 100 yen to the central parity price of RMB 5.3557, down 362 basis points.

"Now the euro exchange rate has returned to the level of the beginning of this year."

Xiao Zhang, who is doing purchasing business in Europe, said, "now many people are asking whether there is any spot price before the exchange rate rises, because it will pay 10% more in just a month."

Xiao Wu, an overseas student who has lived in Japan for five years, said: "since last year, the Japanese yen has dropped sharply, because I have real estate in the country, and I have to pay the mortgage from the bank card every month. The yen earned every month has been shrunk in exchange for RMB. At that time, I had to do some purchasing, because it could receive RMB, at least preserve the value.

But now the yen is rising steadily, feeling better.

Euro exchange rate back to the beginning of the year

Xiaoxi regrets, "the euro appreciation means that I need to spend more than 10% of the price in Europe to buy a bag. Is it still enjoyable to shop?" it has been appreciated by 8% since the beginning of August, and the yen has appreciated by 8.23%.

The euro and yen have been on a downward trend since last year, Europe.

Many consumers become the first choice for outbound travel.

But consumers who have been to Europe or Japan in recent days regrets that they haven't had a good exchange rate.

Consumption reached Oceania

Although the euro and yen are rising, commodity currencies such as Australian dollar and New Zealand dollar are still in a downward path.

Yesterday, the Australian dollar to the central parity of RMB reported 4.5792, analysts pointed out that the current commodity currencies are generally empty, this week Australian dollar against the dollar once hit 6 and a half years low, Australian dollar has depreciated 8% in the year.

This has led to tourism and consumption in Oceania.

Some consumers said that at the beginning of the year, the Australian dollar's close to the central parity of RMB was 5, and the 10 day 3500 Australian dollar trip to Australia, the depreciation of 8% was equivalent to saving 1500 yuan.

Luxury brands or price adjustment

The Chinese market occupies a huge position in the luxury brand industry. It is understood that many luxury brands that are heavily dependent on the Chinese market fear that if the RMB exchange rate continues to fluctuate, it will severely hurt the sluggish luxury brand market.

Analysts believe that all luxury goods companies are sparing no effort in controlling prices and narrowing the global spread, and the fluctuation of the RMB exchange rate has put many luxury brands in a more difficult position. "The exchange rate or the consumption power of consumers will be shrinking."

"The fluctuation of exchange rate has made many bags that belong to light luxury."

It is understood that, in fact, since the euro has depreciated against the yuan since last year, many luxury brands have launched the global price adjustment strategy.

Brand, for example, raised the price of European market in March this year, raising the price even to 20%, and lowered the price of the Chinese market.

"The luxury industry wants to raise profits through price adjustment, but it does not want to get into trouble again because of the exchange rate."

Zhou Ting, President of luxury goods expert and Research Institute of wealth and quality, believes that luxury brands themselves are in a turbulent period of adjustment. Market volatility is not entirely affected by external environment. "Core consumers are fleeing quickly, but consumers are slowly increasing."

The dollar is still the best hedge currency.

Liu Dongliang, senior analyst at China Merchants Bank financial headquarters, said the US dollar index fell sharply in the short term, and the euro and yen rebounded strongly, but this should only be a technical change.

In the medium term, the Fed's rate hike is expected to create a strong backdrop of the dollar, and the continued rise in risk aversion in the global market is expected to push the US dollar once again strong. During the global and local financial crisis, the US dollar has shown good performance, and I believe that this round of shocks will not be an exception.

He said that under the common pressure of RMB depreciation and the strengthening of the US dollar in the international market, the willingness of domestic enterprises and residents to hold foreign currencies continued to rise, and the demand for foreign currency financing of banks increased significantly, which will bring certain tests to the asset allocation ability of Chinese banks in foreign currency financing.