How to treat the rise of RMB against the US dollar?
Recently, the appreciation of RMB has intensified, and some people even think that it should be properly appreciated to offset the increase in commodity prices, because the global increase in commodity prices has been transmitted to China, which has also pushed China's PPI growth rate back to 6.8% in April, setting a new high since 20 1 1 in 2007.
Is this a good thing or a bad thing?
The appreciation of RMB against the US dollar is equivalent to the increase of purchasing power, which is conducive to alleviating the pressure of rising import prices of bulk commodities in China, thus reducing imported inflation and the cost of Chinese import enterprises. For example, it is good for papermaking, commodity finance and so on. On the other hand, in the short term, the appreciation of RMB may cause some export-oriented enterprises to have certain exchange losses. However, since the second half of last year, our country has successfully resumed work and production, and the export situation is relatively good. Especially at present, the epidemic continues to spread in some countries and regions, and overseas demand has always existed. Even in the context of RMB appreciation compared with last year, the overall impact on exports is not great. Therefore, the recovery of global demand will continue to promote China's exports, and may even hedge the impact of some RMB appreciation, so the impact of RMB appreciation on overall exports will not be particularly great.
The appreciation of RMB also promoted A shares.
But the recent appreciation of RMB has promoted our A shares. It can be said that it brought back the mood of the whole market. Just this week, what about the Shanghai Composite Index? Because of the continuous inflow of foreign capital, the increase for the whole week reached 3.28%. The series of 3500 points and 3600 points all broke through at once, so even after Friday afternoon, there were still some shocks and declines, so the closing price still stood above 3600 points, and the theme stocks continued to rotate repeatedly throughout the week. Domestic software, chips and lithium batteries have all gone up once, especially driven by the continuous inflow of foreign capital. The decline in commodity prices has reduced the expectation of liquidity contraction. We have also seen explosions that have not been seen for a long time, and once again attracted 40 billion in half a day. This environment gives the theme stocks room to rise. As long as there is a callback opportunity next week, everyone will pay more attention.