汇添富货币A(519518.SH)

Copper climbs after strike shuts Chilean mine

Copper prices rose on Friday due to supply concerns after a strike halted production at Capstone Copper's Mantoverde mine in Chile. The Shanghai Futures Exchange copper increased by 0.32% to 101,020 yuan, while the London Metal Exchange benchmark rose 1.01% to $12,884.50. The strike followed failed collective bargaining, impacting expected production. Additionally, Freeport-McMoRan anticipates resuming 85% of its Grasberg mine output. A weaker U.S. dollar also supported metal prices, alongside gains in tin and nickel amid industry uncertainties.

Xing Ziqiang: After the spring excitement, we should treat the market more rationally and it is not appropriate to sing high praises of the renminbi entering a long-term significant appreciation range

At the closed-door meeting of Morgan Stanley, Chief Economist Xing Ziqiang analyzed market performance, pointing out that the "good start" at the beginning of the year is influenced by industrial confidence, capital flow, and global sentiment. He warned that despite the popularity of technological innovation, traditional economic downward pressure still exists, and the recovery of market enthusiasm is slow. In addition, he emphasized that one should not sing high praises of the RMB significantly appreciating in the long term

The RMB central parity rate reported at 6.99, breaking 7 for the first time in over two and a half years. "De-dollarization" continues, and the RMB's share in global central bank reserves is expected to rise to 10%

The central parity rate of the renminbi against the US dollar reported 6.9929 this morning, falling below 7 for the first time, which may indicate further appreciation of the renminbi. Analysts point out that a stronger renminbi helps alleviate tensions with trade partners and enhances the attractiveness of Chinese assets. Experts suggest that in the coming weeks, the US dollar against the renminbi may trend towards 6.9. UBS expects that the allocation of the renminbi in global central bank foreign exchange reserves may rise to 10% in the medium term

PRECIOUS-Gold, silver and platinum extend record‑setting rally

Gold, silver, and platinum have reached record highs due to geopolitical and economic uncertainties, a weaker dollar, and expectations of U.S. Federal Reserve interest rate cuts. Spot gold rose 0.5% to $4,961.57 per ounce, while silver and platinum also saw significant gains. The dollar index fell, making metals cheaper for overseas buyers, and markets anticipate further rate cuts, enhancing gold's appeal. U.S. consumer spending remains strong, contributing to economic growth despite a stagnant labor market.

The offshore RMB against the US dollar has risen by about 100 points in the short term, currently reported at 6.9558. The RMB against the US dollar central parity rate has been adjusted up to the strong side of 7 today, increasing by 90 points to 6.9929, reaching a new high since May 17, 2023