货币市场

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2025年9月境外人民币市场综述
Sou Hu Cai Jing· 2025-10-11 02:37
内容提要 9月,离岸(CNH)人民币兑美元即期汇率贬值,在岸(CNY)人民币兑美元即期汇率升值;日均平均价差(CNY-CNH的绝对值)为67BP,较上月减少 13BP;CFETS人民币汇率指数、参考BIS货币篮子、参考SDR货币篮子的人民币汇率指数分别较上月末上升0.21%、上升0.20%、不变。离岸人民币债券发 行额较上月增加。CNH HIBOR隔夜、7天、3个月和1年期较上月末分别上升22BP、上升5BP、下降3BP和上升5BP。 1、中国香港和台湾地区境外人民币存款 2025年8月,香港和台湾地区离岸市场人民币存款规模较上月增加。其中,香港地区人民币存款规模为9679.56亿元,较上月增加3.2%,台湾地区人民币存款 规模为1205.91亿元,较上月减少3.0%。香港跨境贸易结算金额为9968.82亿元,较上月减少19.2%。 2、离岸人民币外汇市场 9月,离岸(CNH)人民币兑美元即期汇率贬值,在岸(CNY)人民币兑美元即期汇率升值。 即期市场:9月30日,CNH兑美元即期汇率收于7.1287,较上月末贬值0.09%;CNY兑美元即期汇率收于7.1186,较上月末升值0.20%;日均平均价差(CNY- ...
Wall Street braces for quarter-end liquidity stress in money markets
Reuters· 2025-09-12 10:03
Core Insights - A significant increase in U.S. Treasury bill issuance has led to reduced liquidity in the financial sector, raising concerns among investors about potential funding market pressures in September [1] Group 1 - The surge in Treasury bill issuance has been a recent trend, impacting overall liquidity levels in the financial markets [1] - Investor sentiment is shifting towards caution due to fears of a possible squeeze in funding markets as September approaches [1]
2025年8月境外人民币市场综述
Sou Hu Cai Jing· 2025-09-04 03:00
Core Insights - The offshore (CNH) and onshore (CNY) RMB appreciated against the USD in August, with the average daily price difference increasing by 18 basis points (BP) to 80 BP compared to the previous month [1][3] - The CFETS RMB exchange rate index and indices referencing the BIS and SDR currency baskets decreased by 0.20%, 0.13%, and 0.28% respectively from the end of the previous month [1][3] Offshore RMB Foreign Exchange Market - On August 29, the CNH/USD exchange rate closed at 7.1221, appreciating by 1.23% from the end of the previous month, while the CNY/USD exchange rate closed at 7.1330, appreciating by 0.84% [3] - The average daily swap point difference between CNH and CNY increased by 24 BP to 89 BP [4] Offshore RMB Bond Market - In August, 110 offshore RMB bonds were issued, with a total issuance amount of 1640.87 billion, representing an increase of 178.2% from the previous month [5] Offshore RMB Money Market - As of the end of August, the CNH HIBOR rates for overnight, 7-day, 3-month, and 1-year periods rose by 51 BP, 29 BP, 2 BP, and 10 BP respectively compared to the end of the previous month [6] - The average interest rate spread between offshore and onshore borrowing rates remained stable for overnight and 7-day periods, while the 3-month and 1-year periods saw an increase of 1 BP [6] Dynamics of Foreign Institutions in Domestic Interbank Market - As of the end of August, the total number of foreign institutions participating in the domestic interbank foreign exchange market reached 236, an increase of 3 from the previous month [7] - The number of foreign institutions and their products in the domestic interbank currency market increased by 15 to a total of 5755 [7] Trading Volume in Domestic Interbank Market - In August, the total trading volume of foreign institutions in the domestic interbank foreign exchange market was 37336.51 billion, a decrease of 6.9% [8] - The trading volume in the domestic interbank bond market for foreign institutions totaled 11573.91 billion, a decrease of 21.2% [8]
新兴市场货币上涨,美联储官员讲话提振降息预期
Sou Hu Cai Jing· 2025-08-06 15:49
Group 1 - Emerging market currencies continue their earlier upward trend, while stock market declines have narrowed due to comments from Federal Reserve official Neel Kashkari, which have put pressure on the dollar and boosted risk appetite [1] - The MSCI index, which measures emerging market currencies, rose by 0.2%, with the Colombian peso and South African rand leading the gains [1] - Similar stock market indices experienced slight declines, indicating a mixed performance in the equity markets [1]
墨西哥、智利、哥伦比亚货币延续跌势,跌至盘中低点。
news flash· 2025-07-08 14:58
Group 1 - The currencies of Mexico, Chile, and Colombia continue to decline, reaching intraday lows [1]
美国就业数据公布后,新兴市场货币指数回吐涨幅。
news flash· 2025-07-03 12:41
Core Insights - Emerging market currency index retraced gains following the release of U.S. employment data [1] Group 1 - The U.S. employment data had a significant impact on emerging market currencies, leading to a reversal of previous gains [1]
美伊冲突引爆亚洲市场震荡:韩元领跌新兴市场 富瑞警告四国货币最脆弱
智通财经网· 2025-06-23 06:55
Group 1 - Asian markets opened lower on Monday, with both currencies and stock markets declining due to heightened investor panic following the U.S. attack on Iran, which has raised concerns over potential disruptions to Middle Eastern energy supplies [1] - The South Korean won led the decline among Asian currencies, contributing to a 0.3% drop in the Bloomberg Asian Dollar Index, while the Indonesian rupiah also weakened, prompting the central bank to intervene in the market [1] - Brent crude oil prices are nearing $80 per barrel, leading to inflationary pressures globally and impacting economic growth, particularly for net oil-importing Asian currencies [1] Group 2 - The 30-day correlation between Brent crude futures and the Asian Dollar Spot Index has reached -0.45, the most negative since March 2022, indicating potential risk linkage effects [2] - According to Wells Fargo, the Indian rupee, South Korean won, Thai baht, and Philippine peso are likely to be the most affected currencies, with concentrated long positions in the won and baht potentially leading to short-term weakness [2] - Concerns over the U.S. potentially revoking export exemptions for technology to China have led to significant sell-offs in chip stocks, particularly impacting the Taiwanese stock market [2]
明晟公司(MSCI):韩国没有离岸货币市场,且在岸货币市场仍然存在限制。
news flash· 2025-06-19 20:50
Core Viewpoint - MSCI highlights that South Korea lacks an offshore currency market and that the onshore currency market still faces restrictions [1] Group 1 - MSCI indicates the absence of an offshore currency market in South Korea [1] - The onshore currency market in South Korea continues to have limitations [1]
IMF首席经济学家Gourinchas:美元的贬值是有序的,没有在货币市场引发分割或动荡。
news flash· 2025-04-22 13:10
Core Viewpoint - The depreciation of the US dollar is orderly and has not caused fragmentation or turmoil in the currency markets [1] Group 1 - The chief economist of the IMF, Gourinchas, emphasizes that the current depreciation of the dollar is managed and does not lead to significant disruptions in the financial system [1]
资金观察,货币瞭望:外部形势严峻,资金面均衡偏松
Guoxin Securities· 2025-04-15 07:44
Group 1 - The report indicates that the external environment is severe, leading to a balanced and slightly loose funding situation, with expectations of a slight decline in market interest rates in April [3][5][87] - In March, the central bank increased liquidity, resulting in a slight easing of the funding environment, with average interbank and exchange repo rates mostly declining [3][12][55] - The average overnight transaction volume in the interbank market increased compared to the previous month, while the exchange's overnight transaction volume decreased [42][49] Group 2 - Key indicators in the overseas currency market show that the Federal Reserve paused interest rate cuts in March, and short-term U.S. Treasury rates remained stable [7][9] - Domestic monetary market indicators reveal a slight easing in March, with average repo rates declining, while fiscal deposits increased significantly [5][11] - The report predicts that fiscal deposits will continue to rise in April, with a slight decrease in the excess reserve ratio expected [56][66][81] Group 3 - The report highlights that the average yield on short-term bonds increased in March, with specific changes in yields for various types of bonds [13][32] - The average annualized yield of money market funds decreased slightly in March, indicating a trend of declining yields [37][41] - The report notes that the central bank may use monetary policy tools such as reserve requirement ratio cuts to counter external pressures [76][87]