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Preface
Hey friends, today let's talk about the recent developments in the foreign exchange market, especially those things about the dollar, the yen and the euro. The forex market is like a huge ocean, with rough waves, sometimes calm, sometimes wild. What we are going to talk about today is how the recent "waves" of these three currencies have rolled and the stories behind them. Come, let's dive into this ocean together and see what is wonderful.
Let's start with the dollar, which hasn't been going well lately. The employment data was like a punch to the dollar. The U.S. added 206,000 non-farm payrolls in June, which would have been a good number, but the unemployment rate quietly climbed to 4.1%, exceeding market expectations. Mr. Market heard the wind and began to speculate that the Fed uncle may start cutting interest rates in September. As a result, the dollar index fell like a slide, swooping down to 104.87, a new three-week low. Not only that, but the dollar also fell against the yen, almost touching the floor of 160.45 yen.
Looking at the yen, although it has strengthened a bit this week and fought back a little against the dollar, it is still hovering at a low level overall. The friends in the market are wondering whether the Japanese bigwigs will intervene to cheer up the yen brothers. Although the yen brother has improved a little, everyone knows that if the big boss of the Bank of Japan really makes a move, the short-term trend of the yen will change.
1. On July 7, 2024, the central parity of the USD/RMB exchange rate in the interbank foreign exchange market is set at 7.1289, that is, 1 US dollar can be exchanged for 7.1289 yuan. However, we all know that the exchange rate in real market transactions tends to fluctuate up and down on the basis of the mid-parity, and on July 7, the real exchange rate of the US dollar against the yuan was 7.2697. This means that if you have 1 USD in your hand, you will be able to exchange 7.2697 RMB on July 7.
Finally, let's talk about the euro. On the cusp of the French election, the euro girl even rose a little, and at the end of the session, she stood proudly at the height of $1.0835. Why? Because the bellwether in the market suggests that there may be a hanging parliament in France, rather than the far-right National Rally party, taking power. This news is like a reassuring pill for the euro girl. However, let's not forget that the National Alliance led by Le Pen received a third of the votes in the first round of voting, and this is not over, and the euro girl will have to continue to follow the development of this plot.
At this point, you may ask, what impact do the fluctuations of these currencies have on us ordinary people? In fact, the impact is huge. For example, if you are a friend who likes overseas shopping, the rise and fall of the dollar is directly related to the price of your purchase. If the dollar is weak, it will be cheaper for you to buy things from the United States; The dollar is strong, and you have to shell out more. By the same token, if you're planning a trip to Europe or Japan, fluctuations in the euro and yen will also have a direct impact on your travel budget.
For example, if you are an investor, the volatility of the foreign exchange market is an important reference for your investment decisions. The strength of the currency often reflects the economic situation of the country, which in turn affects a series of investment markets such as the stock market and the bond market. Therefore, paying attention to the foreign exchange market is like reading an encyclopedia of the global economy, which can make your investments more wise.
2. On July 7, 2024, on the stage of the exchange rate of the yen to the yuan, a seemingly calm but actually undercurrent was surging. The latest exchange rate is fixed at 0.0450, which is a small number, but it carries the attention and expectations of countless people. Whether it's a backpacker about to embark on a trip to Japan, a shopper, or a savvy forex investor, they are all keeping an eye on the subtle changes in this string of numbers.
The opening and closing prices of the yen exchange rate on the day were the same as the closing price of 0.0450, as if the market had chosen a "zen" state on this day. However, the high is 0.0451 and the low is 0.0450, and behind this small fluctuation, there is a certain sentiment in the market. Although the surface is calm, every heartbeat of the foreign exchange market may signal a turning point in the future trend.
Looking at the interbank foreign exchange market, the central parity of the yen/yuan exchange rate is set at 100 yen to 4.4590 yuan. This means that if you have 100 yen in your hand, you will be able to exchange 4.4590 yuan on July 7. According to the exchange rate in the actual transaction, 1 yen is equal to 0.0450 yuan, although it may seem like a trivial difference, but in a large-scale transaction, this small exchange rate fluctuation is enough to have a profound impact.
Finally, for companies doing international trade, the fluctuations of the foreign exchange market are like weather forecasts, which must be paid attention to at all times so as not to be caught off guard by sudden "storms". Fluctuations in exchange rates can affect the costs and profits of a business, and sometimes, a small change in the exchange rate can turn a company's profits and losses upside down.
epilogue
Well, friends, that's all for today's discussion of the dollar, the yen and the euro. By analyzing the recent dynamics of the three major currencies, we not only understand the rapid changes in the foreign exchange market, but also understand the economic logic that may be hidden behind these changes. Remember, the forex market is like a mirror that reflects the light and shadow of the global economy. The next time you hear news about the forex market, stop and think about what kind of story might be behind it. See you next time, remember to pay attention to the global economy, so that life and investment can be more relaxed!
3. On July 7, 2024, the central parity of the euro/RMB exchange rate in the interbank foreign exchange market was fixed at 7.7409, which means that 1 euro can be exchanged for 7.7409 yuan. But as we know, the reality of the market is often much more complex than that. In fact, the exchange rate of the euro against the yuan is 7.8562, which is a small number, but it is enough to cause waves in the foreign exchange market, affecting everything from multinational corporations to ordinary consumers.
The latest exchange rate of the euro against the yuan was 7.8562, which opened at 7.8447 today, closed at 7.8562 yesterday, touched a high of 7.8595, and fell to a low of 7.8399. This series of numbers is like a password in the foreign exchange market, revealing the subtle emotions of the market. Although these figures may seem like small fluctuations, in today's globalized world, every penny of exchange rate changes can have a profound impact on economic activity.
After all, a little financial literacy can not only make us more calm in the face of global economic fluctuations, but also help us seize opportunities and avoid risks. In this era of challenges and opportunities, the more you know, the more you have a chance of winning. I hope today's sharing can bring you some inspiration, and we'll see you next time we explore more interesting topics! Remember, the volatility of the forex market is a vivid reflection of the vitality of the global economy, and each of us is part of this grand narrative.
We hope you find this article useful, and if you have any questions or want to discuss with you, please feel free to do so. Dandan wishes you all good health and smooth investment! Thank you for reading, and I wish you a happy mood when you see this, smooth sailing, smooth sailing, and a lot of money! Don't forget to like and follow, and we'll see you in the comment area!