Foreign exchange European market: the dollar fell slightly, but it is still the favorite of investors under multiple risks

时间:2022-08-09 09:24:27 浏览:49

Yingwei financial investment Com - in the European market on Monday, the US dollar fell slightly, but it was still near the 20-year high. Due to the possible slowdown of global economic growth and geopolitical tensions, traders sought refuge.

As of 17:30 Beijing time (05:30 a.m. EDT), US dollar index futures, which measure the trend of the US dollar against six trade weighted major currencies, fell 0.09% to 104.523.

Last Friday, the dollar index briefly broke through the 105 mark, the highest level since 2002.

Investors bought us dollars as a hedge because they were worried that the tightening measures taken by the Federal Reserve to curb inflation might trigger an economic recession, and the war and epidemic prevention measures in Ukraine would drag down economic growth.

At the same time, Goldman Sachs lowered the U.S. economic growth forecast to reflect the impact of the Federal Reserve tightening monetary policy, which also exacerbated market concerns about the U.S. economic performance this year.

Goldman Sachs predicts that the U.S. economy will grow by 2.4% this year and 1.6% in 2023. Previously, it was expected to grow by 2.6% and 2.2% respectively.

In addition, China's economic data also declined. According to the data of China's National Bureau of statistics, in April, China's total retail sales of consumer goods fell by 11.1% year-on-year, while the market is expected to decline by only 6.1%; The added value of industries above Designated Size unexpectedly fell by 2.9% year-on-year, and the market was originally expected to grow by 0.4%.

From January to April, the national fixed asset investment increased by 6.8% year-on-year, lower than the 7.0% expected by the market.

The situation in Ukraine also boosted demand for dollars, after Finland and Sweden applied to join NATO over the weekend.

Ing analysts said, "the market's concerns about the tightening policy of the Federal Reserve and the expectation of global economic slowdown continue to push up the volatility and instability of risky assets.

And this situation will eventually raise the interest of many investors in buying dollars at a low price. "

EUR / USD rose 0.12% to 1.0423, but only slightly higher than the 2017 low of 1.0406 hit last Thursday. USD / JPY rose 0.08% to 129.29.

GBP / USD fell 0.27% to 1.2227, having fallen to 1.2156 last week due to weak UK GDP in the first quarter.

In addition, the UK will release inflation data on Wednesday. Analysts expect the annual rate of UK consumer prices (CPI) to jump to 9.1% in April, the fastest increase since 1980 and the highest level in 1982.

The onshore RMB fell 0.07% against the US dollar to 6.7937; The offshore RMB fell 0.20% to 6.8080 against the US dollar. AUD / USD fell 0.42% to 0.6910 after a number of economic data released by China were lower than market expectations.