hsbc.co.uk：RMB trend analysis July 15, 2013

hsbc.co.uk：RMB trend analysis July 15, 2013

RMB against the U.S. dollar continued drop since last Friday, because investors reduce long position holdings of RMB in this week, before China's economic data in the second quarter published. hsbc.co.uk analyze that China's economy slows further. In enquiry trading market, U.S. dollar against the RMB closed at 6.1375 yuan, higher than last Thursday's closing price of 6.1352 yuan. U.S. dollar intraday fluctuate within a range in the RMB 6.1368 to 6.1423 yuan.

Despite the U.S. dollar's weakness overnight, China's central bank sets the U.S. dollar against the RMB central parity rate at 6.1631 yuan, higher than last Thursday's 6.1599 yuan. In offshore market, 1 year U.S. dollar against the RMB non-deliverable option forward by rise from last Thursday's close order of RMB 6.2815/6.2845 to RMB 6.2858/6.2895. hsbc.co.uk implies that market will expected to fall by 2.3% next year in RMB against the U.S. dollar. In Hong Kong's offshore RMB market, last Friday U.S. dollar against the RMB at 6.1420 yuan, higher than last Thursday's close order at 6.1390 yuan.