三大人民币汇率指数全线上涨，CFETS指数按周涨0.15

Core Viewpoint - The recent increase in the RMB exchange rate indices indicates a potential stabilization of the RMB against the USD, following a period of depreciation pressure, with expectations for continued stability in the exchange rate [1][5][6]. Exchange Rate Indices - The CFETS RMB exchange rate index rose to 96.29, up 0.15% week-on-week - The BIS currency basket RMB exchange rate index reached 102.25, increasing by 0.11% week-on-week - The SDR currency basket RMB exchange rate index reported 90.47, with a weekly increase of 0.03% [1][2]. USD Index and Market Dynamics - The USD index rebounded after four consecutive weeks of decline, closing at 99.58, a 0.36% increase for the week - The offshore RMB against the USD was reported at 7.2889, up 148 points for the week, while the onshore RMB closed at 7.2862, gaining 177 points [5][6]. Market Sentiment and Future Outlook - Analysts suggest that the depreciation pressure on the RMB has significantly eased, with expectations for the exchange rate to remain stable due to improved supply and demand in the foreign exchange market [5][6]. - The upcoming U.S. economic data releases, including non-farm payrolls and GDP figures, may influence the RMB exchange rate positively if they continue to show a cooling trend [8]. Global Economic Context - The IMF has downgraded the global economic growth forecast for 2025 to 2.8%, reflecting concerns over U.S. economic performance and potential impacts on the global financial system [9][10]. - The U.S. Federal Reserve's recent reports highlight rising global trade risks and uncertainties in U.S. debt sustainability, which could affect the overall financial landscape [9].