Withdraw cash quickly! The US dollar exchange rate rose to 6.56, a 4-month high

The heat from the surge in orders due to the money distribution a while ago has not yet passed, and now, because of the money distribution, the US dollar exchange rate has risen again.

The US dollar rose to 6.56, the highest since December

Today, the central parity rate of RMB against the U.S. dollar was 6.5641, the lowest since December last year. On March 29, the exchange rate of USD against RMB was as high as 6.576. Sellers who need to withdraw cash can pay attention to the latest exchange rate.

Data from the China Foreign Exchange Trading Center showed that the central parity rate of the RMB against the US dollar on the 30th was 6.5641, down 225 basis points from the previous trading day , setting a new low in nearly four months since December 1, 2020.

The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that the mid-point of the RMB exchange rate in the interbank foreign exchange market on March 30, 2021 was: 1 US dollar to 6.5641 RMB, 1 euro to 7.7246 RMB, 100 yen to 5.9762 RMB, and 1 Hong Kong dollar to 0.84437 RMB .

After the release of the central parity rate, the RMB spot exchange rate against the US dollar fell below the 6.57 mark at the opening on March 30, reaching 6.5790, and once touched 6.5799 during the session, very close to falling below the 6.58 mark . Since March 19, the RMB spot exchange rate against the US dollar has continued to fall, and has fallen by more than 0.5% this year.

Professional analysts said the reason for the strengthening of the US dollar index : “Since February, the vaccination of the United States has accelerated, fiscal stimulus measures have been smoothly implemented, and market expectations for the accelerated recovery of the US economy have increased .

In addition, from the perspective of the RMB exchange rate, the slight depreciation of the RMB against the US dollar from late February to late March is a normal two-way fluctuation range. There is a large rebound space for the US dollar against the euro and emerging market currencies, but the appreciation of the US dollar against the RMB is limited. "

Big "spending"! The US 3 trillion stimulus plan is coming again

The heat of the 1.9 trillion yuan has not yet died down, and now the US 3 trillion yuan stimulus plan is here again. Although the 3 trillion yuan is not realized in the form of handing out money, it is more targeted at the American people. After the implementation of the stimulus plan, the sellers’ order volume has actually benefited greatly.

On March 28, local time , White House press secretary Jen Psaki said that President Biden has decided to divide the $3 trillion economic recovery plan into two bills, and will deliver a speech in Pittsburgh, Pennsylvania, on March 31, local time, focusing on the first bill for U.S. infrastructure reform.

It is reported that the economic package consists of two parts . One part focuses on infrastructure construction, with an amount of about US$1 trillion, focusing on areas such as roads, bridges, railways, electric vehicle charging stations and high-speed communication networks , striving to enhance economic competitiveness while transitioning to clean energy.

As for the other part, it will be similar to the previously launched $1.9 trillion economic rescue plan, covering content that benefits the nation's families, specifically universal preschool education, free community college, child tax credits, paid leave, subsidies for low- and middle-income families to participate in medical insurance, and so on.

The New York Times article said the stimulus plan aims to promote economic growth, reduce carbon emissions and narrow economic inequality.

The plan invests heavily in the development of “future high-growth industries” such as clean energy deployment and 5G communications — including money for rural broadband, advanced training for millions of workers and 1 million energy-efficient homes . It will include huge construction costs for roads, bridges, railways, ports, electric vehicle charging stations, and improvements to the power grid and electricity sector.

According to relevant media reports, the money for economic stimulus comes from borrowing. If this stimulus plan can be implemented, the US stock market will rise sharply after the stimulus, and US capital will be optimistic again. However, whether this plan can be enacted is still unknown. According to the Financial Times, part of the funds for the new $3 trillion plan are expected to come from increased taxes on wealthy families and US companies.

Currently, 12 states in the United States have openly opposed Biden's Green New Deal. For example, Texas believes that energy mining areas belong to public land, not just the federal government. This ambitious plan will face many obstacles from all sides.

After tornadoes and floods, the United States will be troubled by high temperatures and fires

Recently, the southeastern United States was hit by tornadoes, which brought heavy rainfall and caused floods.

But the recent extreme weather in the United States does not stop there. According to foreign media reports, the United States will also be affected by severe fire weather and high temperature weather this week.

It is reported that a strong cold front will sweep across the United States this week, causing sharp temperature fluctuations. Many cities will face temperatures 20-30 degrees higher than normal before the front and 10-15 degrees lower than normal after the front.

"Temperatures will drop sharply in the rear Monday night into Tuesday, with Tuesday's temperatures likely to be 30-40 degrees cooler than Monday," the National Weather Service (NWS) office in the Twin Cities, Minnesota, said.

But the cold spell will be short-lived. Much of the country will warm up quickly later this week.

U.S. media reported that today, strong winds strong enough to blow down trees and power lines will sweep across the United States. This will greatly increase the threat of fires. Red flag warnings and high fire danger alerts have been issued in 13 states in the United States . The affected areas include most of the northern Midwest, the northern plains, and the long strip extending to Texas.

Due to the extremely strong winds and extremely low humidity, this will greatly increase the likelihood of fires. "The National Weather Service office in Topeka, Kansas said that due to the high wind speeds, any fire control will be very difficult or even out of control." Currently, more than 3 million people are threatened by serious fires.

Not only that, US media said that today, strong winds will also affect the Northeast. Today, strong wind warnings have covered the Northeast and most of New England. Strong winds will reach 60 miles per hour between central New York and Massachusetts . Gusts will reach 50 miles per hour in areas around most of New England, including Boston. Due to strong winds, some major airports in the region are expected to experience flight delays on Monday. There have been some reports of power outages, with an estimated 77,000 users affected.

Meanwhile, the rain has not stopped in the Southeast, and foreign media reported that Nashville is expected to see more rain later this week.

According to the National Weather Service office in Nashville, rainfall could reach 1 to 1.5 inches on Tuesday and Wednesday . The Nashville NWS said this is "not generally a cause for alarm," but many areas would be unable to withstand the added burden of more rain, they said.

Many rivers and creeks in the region remain at flood stage, so any additional rainfall will result in more flash flooding and river swells.

US Dollar Exchange Rate