What are the characteristics of the RMB exchange rate in 2021?

The exchange rate is the most unpredictable value in the world, and even the exchange rate today is infinitely uncertain, let alone three years from now.

Due to the impact of the epidemic, the euro area is still releasing water, while the yuan is basically stable. The RMB and the euro, whether from an economic perspective or from a monetary policy point of view, are more likely to appreciate than the euro, so if you change it in 21 years, the probability is basically not the lowest.

In theory, buying more bonds should lower yields and thus depress the value of the euro. If the ECB is now buying more bonds than it was before, and the Fed is buying the same amount of bonds, the EURUSD should move lower.

EUR The US dollar has been trading lower since the poor auction of US 7-year Treasuries on 25 February. The pair hit near the upward Fibonacci extension from the February 5th low to the February 25th high, and ** to the line of today's high. The resistance level is above, and the psychological integer resistance level falls.

On the 240-minute timeframe, the EURUSD has formed a flag pattern, note that the top trend line of the flag is converging with horizontal resistance (daily chart) and the downward retracement from the February 25th high to the March 9th low.

The flag target is the length of the flagpole + the breakout point, which currently falls nearby. The first support looks back at the line of the March 9 low. In case of a break, look for the nearby extension of the aforementioned period and the absence of a low, followed by the November 4th low.

Here's the summary: The Federal Open Market Committee (FOMC) will meet next week. If the ECB accelerates its bond purchases, the FOMC continues to buy $80 billion of government bonds and $40 billion of collateral support** (MBS) per month, which should lead to lower yields on European bonds relative to US bonds.

This will bring down the EURUSD exchange rate.

As of January 2021, 1 RMB = US dollar.

Since May 28, 2020, the RMB exchange rate against the US dollar has started to appreciate. Industry insiders pointed out that the strength of the RMB exchange rate is mainly due to the fact that China's economy took the lead in controlling the epidemic and restoring economic vitality. In addition, 15 countries, including China, have successfully signed the RECP agreement.

At present, the RMB exchange rate has entered the era, and analysts believe that there is still room for appreciation in the future, and it is expected that the trend of RMB appreciation will not change. It is expected that by the end of 2021, the exchange rate of the RMB against the US dollar will be around the limit. Other analysts believe that the future fluctuation range of the RMB exchange rate against the US dollar is.