Home NewsForex Market News Afternoon, pigs and sheep change color for 5 consecutive depreciations and close at 30.06 yuan, reaching a new low of more than a week | Anue tycoon

Afternoon, pigs and sheep change color for 5 consecutive depreciations and close at 30.06 yuan, reaching a new low of more than a week | Anue tycoon

by WOOWinvest
0 comment
Afternoon, pigs and sheep change color for 5 consecutive depreciations and close at 30.06 yuan, reaching a new low of more than a week | Anue tycoon


US Federal Reserve Chairman Jerome Powell’s speech reduced the market’s doubts about raising interest rates, which led to a strong rebound in US stocks. Taiwan stocks rose 217 points at the same time, standing above the 15,600 point level. It once rose to 29.976 yuan, but after noon, the pigs and sheep changed color, and the exchange rate turned from rising to depreciating. It finally closed at 30.06 yuan, a depreciation of 1.7 cents. The transaction value was US$1.626 billion.

Foreign capital tends to be remitted recently. The exchange rate of the New Taiwan dollar has been weakening for several days. It fell below the 30 yuan mark yesterday. After opening at 30 yuan today, it once rushed to 29.976 yuan, an appreciation of 6.7 cents. However, the buying of the US dollar was slightly better, and the exchange rate depreciated , broke through 30 yuan again, and closed at 30.06 yuan, a small depreciation of 1.7 cents. The turnover of the Taipei foreign exchange market was US$1.043 billion, and the turnover of the Yuantai foreign exchange market was US$583 million.

Taiwan stocks launched a strong rebound today. TSMC teamed up with the IC design group to attack higher. The transaction value of electronic stocks accounted for nearly 70% of the market, and there was a 7000 gold boom. The weighted index rose 217.26 points at the end, closing at 15618.17 points, the highest in more than 7 months Since then, the closing record has been set at a new high. The three major legal persons are on the same side as buyers, and foreign capital has returned to buy more than 14.157 billion yuan.

When Powell attended the event on the 7th, he pointed out that the easing of inflation is in a very early stage. This may be a long process, and the process may be bumpy. Interest rates must be kept at restrictive levels for a period of time. In the labor market, Powell said that if the strong employment data continues, further interest rate hikes are needed to cool inflation, and borrowing costs may reach a peak higher than the Fed’s previous forecast. The U.S. dollar index fell back from a one-month high on the 7th.

Observe the performance of major currencies against the U.S. dollar today. According to statistics from the central bank, the U.S. dollar index fell by 0.47%, the Japanese yen rebounded by 0.98%, the euro appreciated by 0.32%, the Singapore dollar appreciated by 0.28%, the renminbi also rose by 0.1%, and the Korean won depreciated by 0.38%. The Taiwan dollar and the Vietnamese dong weakened at the same time, and the Asian currencies moved in different directions.

New Taiwan dollar recent exchange rate trend.  (Picture: Juheng.com)
New Taiwan dollar recent exchange rate trend. (Picture: Juheng.com)

You may also like

Leave a Comment

Our Mission is to help you make better trading decisions by providing actionable investing content, comprehensive tools, educational resources and assist you in making more money in the stock market.

Latest News

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

@2022 – All Right Reserved. Designed and Developed by WOOW Invest

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy