- Contact:Mr.Zhang
- Cell:+86-13774059985
- Fax:86-724-2210705
- E-Mail:shibo.zhang@btfiber.cn
- Address:Jingmen High-tech Zone in Hubei Xinglong Road 248
Last month, with Trump winning the US election, the "Trump effect" has become the main theme of the market, international oil prices and the RMB exchange rate have plummeted, and the expectation of tax increases has made some orders issued in advance, which has a certain impact on textile enterprises.
And as the time for Trump to take office in January next year continues to approach, the "Trump trade" has not only not eased, but has exploded in a more intense way.
The renminbi fell below the 7.3 mark
Since December, the RMB exchange rate has fluctuated downward, causing market concern. On December 3, the offshore RMB exchange rate against the US dollar quickly fell below the 7.3 mark after opening, and then fell further to 7.31, hitting a minimum of 7.3148 yuan, a one-day decline of about 280 points, hitting a new low since November 2023. On the same day, the central parity rate of the RMB against the US dollar fell 131 points from the previous day to 7.1996, a new low since September 2023.
The depreciation of the RMB exchange rate is mainly due to the appreciation of the US dollar, before Trump officially took office, the incumbent Democratic Party in the last two months of the term to spend money, the US national debt exceeded the 36 trillion US dollars mark. And so many US Treasury bonds want to sell, it needs to be attracted by high interest rates, so the market news that the United States will not cut interest rates in December, further pushing up the dollar index.
The short-term sharp depreciation of a number of non-US dollar currencies such as RMB, on the one hand, helps textile foreign trade enterprises export, on the other hand, also deepens the risk of future exchange rate correction.
Declaration: The content of this article is organized from the Internet, and the copyright belongs to the original author; If there is infringement, please inform in time and contact to delete.