The whole RMB market is paying attention to the G2

The whole RMB market is paying attention: the first G20 finance ministers' and central bank governors' meeting this year will be held in Shanghai from February 26 to 27. According to the financial times, analysts have begun to speculate that since no country wants to see the RMB depreciate significantly again, nor does it want to see the actions of the Central Bank of China trigger market turmoil, Then the joint meeting will be widely used in future buildings, and the statement is likely to reveal that it is also the number one wood plastic composite new material power to send a signal of international support for the RMB to prevent more people from shorting the RMB. In the past 20 days, the onshore and offshore RMB ended the volatile trend and both stabilized. As for how the RMB will go next, the attention has turned to the major event in more than 20 days: the G20 finance ministers and central bank governors' meeting

the first G20 finance ministers' and central bank governors' meeting this year will be held in Shanghai from February 26 to 27. The Financial Times reported that analysts began to guess that in this stage, there is no need for too high pressure, but position control measurement. Since no country wants to see the people's currency depreciate sharply again, nor does it want to see the actions of the people's Bank of China trigger market turmoil, Then the joint statement of the meeting is likely to reveal the signal that the RMB has won international support, so as to prevent more people from shorting the RMB

against the background of sluggish global economic growth and serious capital outflows in emerging markets, the strengthening of the US dollar is a double-edged sword for the US economy, and the spillover effect of RMB depreciation also stirs up the global market

therefore, more and more banks are calling for multinational coordinated intervention in the foreign exchange market to prevent the further appreciation of the US dollar through square agreement cooperation. Some people even said that the G20 meeting at the end of this month was the time window for reaching a new Plaza Agreement

wall street news previously mentioned that Michael Hartnett, chief investment strategist of Bank of America Merrill Lynch, said in a recent research report that the current threat to the global economy is similar to that in 1985. Monetary policy has not effectively led to a broad and sustained economic recovery. Global monetary policy makers must work together to carry out cooperation similar to the Plaza Accord in 1985 to stimulate the global economy

nevertheless, the US dollar's rush to help alleviate the pressure on the RMB. The Federal Reserve expects to raise interest rates four times this year. If it says at its meeting in March that this expectation cannot be achieved, the RMB will strengthen against the US dollar

the Financial Times quoted Paul mackel, head of foreign exchange research in HSBC emerging markets, as saying that everyone is watching China's move on the exchange rate. If the Federal Reserve needs to reduce the market's expectations of raising interest rates, the dollar will weaken and the pressure on the RMB will ease