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Australia's weak trade data depressed the Australian dollar, and the New Zealand dollar was close to a one-month high.
The euro stayed close to a two-week high, and the dollar continued to rebound against the yen
The Reuters-measured exchange rate of the renminbi rose slightly to 97.37, while the CFETS index rose slightly to 97.37.
Popularization of foreign exchange knowledge: personnel and institutions of interest in foreign exchange market
Australian dollar exchange rate
Sydney / Wellington, June 7 (Reuters)-the Australian dollar retreated from a six-week high on Thursday as Australia's trade surplus fell in April after an earlier announcement, and the New Zealand dollar pulled back from a one-month high.
The Australian dollar, which fell 0.2% to US $0.7653, hit its highest level since mid-April on Wednesday. The Australian Bureau of Statistics reported on Thursday that the trade surplus fell to A $ nine hundred and seventy six million nine hundred and ninety nine thousand nine hundred and ninety nine in April, below the market estimate of A $1 billion, and was revised up to A $1.73 billion in March. A string of better-than-expected data released this week, such as Australia's first-quarter GDP report, gave a significant boost to the Australian dollar.
However, this is not enough to push the Australian dollar above US $0.7700, a level that has been elusive since early April, when investors saw little reason for the Bank of Australia to raise interest rates.
The Bank of Australia held its 22nd consecutive meeting on Tuesday to keep benchmark interest rates at a record low of 1.50 percent, pending higher inflation and wage growth.
Data on Thursday showed Australia's trade surplus narrowed in April as exports fell.
"it can be seen that just a day after the first quarter of GDP data came out, there were preliminary signs that the economy might not have performed so well in the second quarter," said Paul Dales, chief analyst at Cathay Capital Macro (Capital Economics). "even if overall exports grew in May and June, the contribution of net exports to real GDP growth in the second quarter is expected to be neutral."
The New Zealand dollar tightened slightly against the dollar, hovering around a one-month high of $0.7060 hit overnight. The New Zealand dollar last traded at $0.7042, up 0.2 percent.
[财]dollar currency rate
The dollar continued its rally against the yen from a five-week low of 108.115 on May 29, after hitting a two-week high of 110.27 in New York late Wednesday at 110.15. However, trade friction-related concerns could limit the dollar's upside against the yen. U.S. President Donald Trump is likely to clash with other leaders at the G-7 summit this weekend.
The Australian dollar hit a one-and-a-half-month high of 0.7677 on Wednesday to close at 0.7668, partly supported by Australia's strong economic growth data released on Wednesday.
The euro stayed close to two-week highs against some major currencies on Thursday as bets on the ECB's (ECB) could rise as early as next week when it announced that it would withdraw from the stimulus package by the end of the year. European Central Bank chief economist Prette said the central bank will discuss next week whether to end its bond-buying programme later this year.
The Bundesbank's president said Wednesday that expectations that the ECB would end its bond-buying programme by the end of the year seemed reasonable. Dutch central bank president Knut also said there is no reason to continue the quantitative easing programme. Their comments pushed the euro to a two-week high of 1.17955 on Wednesday. The euro rose 1 percent against the dollar this week, after trading at 1. 1781.
"in the near future, we may see that the euro is driven by events. We should expect the speeches of key officials to easily push the euro up by 100 points ($0.01), "said Kyosuke Suzuki, head of foreign exchange at Societe Generale.
The ECB is already discussing whether to end its two trillion five hundred and forty nine billion nine hundred and ninety nine million nine hundred and ninety nine thousand nine hundred and ninety nine-euro ($2.99 trillion) bond-buying programme this year, as the threat of deflation is over. But many in the market were surprised by the criticism that uncertainty over Italy's political crisis could have prompted policymakers to be cautious about hinting at the end of the stimulus package at the June 14 policy meeting.
The euro strengthened against other currencies, hitting two-week highs against the Swiss franc and the yen at 1.1640 Swiss francs and 129.83 yen, respectively. The yen fell against many currencies as worries over Italian politics eased and the tech-led global stock market rally improved risk sentiment.
[法]RMB rate
Shanghai (Reuters)-the CFETS exchange rate index rose 0.03 percent to 97.37 percent on Thursday from the previous day, according to (CFETS), the center of foreign exchange trading in China. The SDR basket index rose slightly to 98.37 and the BIS basket index rose slightly to 100.69.
The CFETS index is up 2.67 percent this year, the SDR basket index is up 2.48 percent, the BIS index is up 4.96 percent. In 2017, the CFETS RMB exchange rate index was up 0.02 percent, and the SDR basket index was up 0.52 percent. The BIS index fell 0.30 percent. The 2016 CFETS index, the SDR basket index and the BIS index fell 6.06 percent, 3.38 percent and 5.38 percent, respectively.
In addition, Thomson Reuters and the Hong Kong Stock Exchange jointly developed the RXY Global Offshore RMB Index, the latest 98.19, slightly down 0.01% from the previous day, the RXY World onshore RMB Index closed at 97.73, a slight drop of 0.12%. The RXY reference offshore renminbi index closed at 98.89, a slight drop of 0.04 percent and the RXY reference onshore renminbi index to 98.43, a slight drop of 0.15 percent.
Popularization of foreign exchange knowledge: relevant stakeholders and institutions
Foreign exchange is the world's largest transaction, trading more than $4 trillion a day. Unlike other financial markets, foreign exchange markets do not have specific locations or central exchanges, but trade through electronic networks between banks, businesses and individuals. Due to the lack of specific exchanges, the foreign exchange market can operate 24 hours. The bargaining and counter-offer in the course of trading, are passed out through the major information companies, investors are informed of the foreign exchange trading market in real time.
[经] central bank
Responsible for issuing domestic currency, establishing monetary supply, holding and controlling foreign exchange reserves, and maintaining the internal and external value of domestic currency. Under the floating exchange rate system, the central bank in the foreign exchange market, in order to maintain market order, buy or sell foreign exchange to intervene in the foreign exchange market.
foreign exchange bank
The foreign exchange bank is the primary participant in the foreign exchange market, and the main business of the foreign exchange bank is divided into two parts. One is to deal with the financial services of foreign exchange transactions for customers, to exchange foreign exchange; on the other hand, to conduct foreign exchange transactions between banks in order to adjust their supply and demand in the foreign exchange market, and to buy and sell surplus foreign exchange.
[经] exchange deale
Foreign exchange brokers are middlemen between foreign exchange banks, central banks and customers, who are closely connected with banks and customers. Foreign exchange brokers negotiate exchange agreements on behalf of customers, between buyers and sellers, to engage in direct or indirect trading. Foreign exchange traders and brokers themselves do not bear the risks of foreign exchange trading. Foreign exchange brokers are happy to use it because they are familiar with the supply and demand situation of foreign exchange in the market, the analysis of information and charts, the rise and fall of exchange rate changes, and the buying and selling procedures.
Businesses and individuals
In the foreign exchange market, customers who trade in foreign exchange banks and financial investment institutions include traders, investors, speculators, and others involved in foreign exchange, such as overseas students, tourists, diaspora and so on. With the exception of speculators, these customers are in normal economic activity to conduct foreign exchange transactions with foreign exchange banks (e.g. importers to buy foreign exchange; exporters to sell foreign exchange). They are engaged in foreign exchange transactions, either to liquidate international funds, or to avoid the risk of devaluation. Speculators, for the purpose of investment, make a profit by forecasting exchange rate fluctuations and selling short. Therefore, foreign exchange speculators are both suppliers and demanders of foreign exchange.