The "Shang Fang Sword" Is Also Useless For The US Dollar.

The US dollar index fell again on Friday (October 30th). After a series of mixed economic data on Thursday, the US dollar did not find further upward support. Non US currency counterattack on the whole. Euro The pound, Australian dollar, yen and so on rose to varying degrees against the US dollar.

The dollar index was also under pressure from the renminbi on Friday. The Chinese government announced that it had gradually liberalized the news of overseas investment by domestic residents, so that the offshore RMB exchange rate rose and the new high after the August exchange rate reform was set. The Chinese government, after IMF assessed whether the renminbi was added to the SDR currency basket, continued to reform its financial system and pushed forward the process of financial marketization. At the same time, these activities also indicate that China is gradually stepping out of the era of capital control.

The Reuters subsequently commented that the US personal income monthly rate in September was lower than expected, falling from the previous value, the lowest since March of this year, and the growth rate of income in the United States was almost stagnant. The monthly rate of personal spending in the US was also weak in September, which recorded a minimum increase in 8 months, suggesting that domestic demand began to show signs of cooling after the recent strong growth.

It is worth noting that U.S.A The personal savings rate continued to rise to 4.8%, the highest since April. It also suggests investors are more cautious about the outlook for the US economy.

After the release of the data, the US dollar index went down, reaching 97.11 after reaching 96.86, but then continued to decline to 96.59 level. The US consumer spending declined in September and failed to meet market expectations. At the same time, the consumer price index is far from the Fed's inflation target. The dollar index has come down, so far. US dollar index Basically, all the gains from the Fed's hawkish statement have been fully recalled.

Despite the Fed's confidence in the future trend of the US dollar after the possibility of raising interest rates in December, the Fed still relies on economic data to formulate policies. Economic data are not as good as expected, leaving the US dollar short of further upward momentum.

The Japanese central bank kept interest rates unchanged during the day, disappointed the Japanese yen's earlier easing of yen easing. Despite the recent poor performance of the economic data, the Bank of Japan continues to maintain the QE scale unchanged. Kuroda, governor of the central bank, insisted on the news conference on Friday that the economic situation will improve in the future. But Kuroda also acknowledged that the risks faced by the economy are on the downside and promised that if inflation is threatened, it will not hesitate to adjust the policy.

Us personal income has reached a 6 month low, and economic data have yet to provide further support for the US dollar. According to the data released by the US economic analysis Bureau, the monthly growth rate of personal consumption expenditure in the United States in September increased by 0.1%, less than the market expected growth of 0.2%, and the former value increased by 0.4%. At the same time, the US personal income monthly rate increased by 0.1% in September, and also less than the market expected growth of 0.2%, the lowest in nearly 6 months, with a 0.4% increase in the previous value.