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Is the Exchange Rate Starting to Turn Red?


The extended version of the "Golden Week" has come to an end~


This holiday was truly a "crowded" one. According to the data from the Ministry of Culture and Tourism of the People's Republic of China, the number of domestic travelers during this dual-holiday period reached 826 million. In other words, more than half of China's population was on the move! So, did you go on a trip? - Report, Panda is also one of 826 million!


With the holiday over, let's get back to the main topic. Panda has already sorted out the changes in various exchange rate markets. Let's quickly take a look!


Japanese Yen: Stop Declining?


Under the combined impact of rising inflation and heavy debt burden, the exchange rate of the Japanese yen has approached a new low in the past decade.


From the summary of the September monetary policy meeting published by the Bank of Japan, it can be seen that the decision to maintain loose monetary policy undoubtedly served as an accelerator for the depreciation of the yen.


However, on the night of October 3rd, the yen experienced significant volatility, briefly falling below the important level of 150 yen per US dollar. Three minutes later, it swiftly rebounded to 147 and then fluctuated around 149. Market speculation suggests that the Bank of Japan may have intervened.



Source: Sina Finance


It is difficult to determine whether the yen exchange rate will stop declining, but considering the current rate, it seems to be a good opportunity to exchange for the yen. This is a rare chance, so friends who have exchange needs should seize it in a timely manner!


AUD:Difficult Rise


Overall, since the Australian dollar reached a high of 4.9323 in July this year, it has started to decline


From the graph, it is not difficult to see that in recent months, the Australian dollar has been slow and difficult to rise every time, but the decline is not ambiguous. The true portrayal of the Australian dollar since the second half of this year is that it has fallen like a mountain and risen like a thread.


On October 4th, the Australian dollar fell to a nearly three-month low of 4.5959. Just as everyone thought the decline would continue for some time, the Australian dollar unexpectedly rose! Whether this rise is a flash in the pan or a rebound signal remains to be seen, as exchange rates are unpredictable and it is difficult to grasp the lowest point.



Source: Sina Finance


HKD: One Word, Steady!


In stark contrast to the heartbreaking Australian dollar, it must be the stable Hong Kong dollar!


This stability is not only reflected in the upward trend since the beginning of this year but also in the straight-line exchange rate state since the holiday.


The exchange rate has stabilized, and the mentality of those who want to exchange for Hong Kong dollars is about to collapse. However, compared to the high of 0.9373 in early September, the exchange rate has also slightly declined recently. Friends who are in a hurry to exchange can compare multiple exchange rates and choose the optimal solution.



Source: Sina Finance


USD: "7.3" Ultimate Pull


Since the USDCNY fell below the 7.3 level, they have been hovering around 7.3. Although it reached a high of 7.3498 in early September, it quickly fell back to around 7.3. During the holiday season, the performance of the US dollar can be described as "calm and gentle".


The interest rate hike policy of the United States has made the US dollar more attractive, leading to the return of global capital and the appreciation of the US dollar; In addition, the data of US Non-farm Payroll in September unexpectedly "exploded", setting the largest growth rate since the beginning of this year, indicating a strong labor market.


The US dollar index has risen for eleven consecutive weeks. From this perspective, the strength and resilience of the US dollar are difficult to change in the short term.


Source: Sina Finance


EUR: Cliff-like Drop


After reaching a high of 8.1138 in July this year, the euro exchange rate felt like it was on a slide, tumbling down all the way.


The main reason for the decline in the euro exchange rate is that the economic recovery in the eurozone is relatively slow, which has led to a weakening of market confidence in the euro, leading to a significant decline in the euro exchange rate. At the same time, the rise of the US dollar is also closely related to the sharp decline of the euro.


Although the euro has risen during the holiday period, compared to the continuous decline in the past three months, the rise is slightly sluggish.



Source: Sina Finance


GBP: Weak Trend


The trend of the pound and euro can be considered as a 'copy-paste', with a 'frenzy' in the first half of this year and a similar decline since July.


The two are also surprisingly similar in economic conditions - the UK Construction Purchasing Managers' Index (PMI) fell from 50.8 in August to 45.0 in September, indicating a weak economy in the third quarter. In addition, the stronger US economy has prompted market funds to bet that US interest rates may further rise.


Source: Sina Finance


NZD: Start Rebounding?


Since September, the New Zealand dollar exchange rate has shown a rebound trend, with a mild rebound.


On October 4th, the Reserve Bank of New Zealand announced that the Official Cash Rate (OCR) would continue to remain unchanged at 5.5%, and based on ANZ Bank's business and consumer confidence index survey results, further signs of inflation slowing down are reassuring.


Source: Sina Finance


At present, it seems that the exchange rates in various markets are at relatively low points. Panda kindly reminds friends with exchange demand not to miss this chance, to exchange at low points and cherish it!



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