在连续两个交易日下跌后,离岸人民币兑美元汇率稳定在7.26左右,投资者在农历新年庆祝活动中稍作喘息。2月1日之前,市场情绪仍然谨慎,对唐纳德·特朗普总统挥之不去的关税威胁的担忧日益加剧。上周,特朗普宣布计划从2月1日起对中国进口商品征收10%的关税,同时对来自墨西哥和加拿大的商品征收25%的关税,这加剧了人们对贸易紧张局势加剧的担忧。在国内,最近的经济数据描绘了一幅令人担忧的画面,中国制造业活动在2025年1月收缩,而服务业活动从12月的九个月峰值大幅放缓。与此同时,央行通过三个月和六个月的反向回购向金融体系注入了创纪录的1.7万亿元人民币(2340亿美元),这是自10月以来最大的一次操作。此举将人民币稳定置于额外的货币宽松政策之上。
The offshore yuan steadied around 7.26 per dollar following two consecutive sessions of losses, as investors took a breather amid Lunar New Year celebrations. Market sentiment remained cautious ahead of February 1, with concerns mounting over lingering tariff threats from President Donald Trump. Last week, Trump announced plans to impose a 10% tariff on Chinese imports starting February 1, along with a 25% tariff on goods from Mexico and Canada, fueling fears of heightened trade tensions. Domestically, recent economic data painted a concerning picture, with China's manufacturing activity contracting in January 2025, while services activity slowed sharply from December's nine-month peak. Meanwhile, the central bank injected a record 1.7 trillion yuan ($234 billion) into the financial system through three- and six-month reverse repos, the largest operation since October. This move prioritized yuan stability over additional monetary easing.