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June 12th - In May, the total amount of cross-border RMB settlement under current account items was RMB 1.67 trillion, of which goods trade, services trade and other current account items were RMB 1.28 trillion and RMB 0.39 trillion respectively; the total amount of cross-border RMB settlement for direct investment was RMB 0.58 trillion, of which outward direct investment and foreign direct investment were RMB 0.22 trillion and RMB 0.36 trillion respectively.June 12th - At the end of May, the outstanding balance of domestic and foreign currency loans was 284.79 trillion yuan, a year-on-year increase of 5.4%. The outstanding balance of RMB loans at the end of May was 281.02 trillion yuan, a year-on-year increase of 5.5%. RMB loans increased by 9.11 trillion yuan in the first five months. By sector, household loans decreased by 631.4 billion yuan, of which short-term loans decreased by 694.2 billion yuan and medium- and long-term loans increased by 62.8 billion yuan; loans to enterprises and institutions increased by 9.63 trillion yuan, of which short-term loans increased by 3.77 trillion yuan, medium- and long-term loans increased by 4.99 trillion yuan, and bill financing increased by 699.9 billion yuan; loans to non-bank financial institutions decreased by 279.7 billion yuan. At the end of May, the outstanding balance of foreign currency loans was 553.2 billion US dollars, a year-on-year increase of 2.6%. Foreign currency loans increased by 8.2 billion US dollars in the first five months.June 12th - At the end of May, the balance of domestic and foreign currency deposits reached 352.38 trillion yuan, a year-on-year increase of 8.7%. The balance of RMB deposits at the end of May was 344.45 trillion yuan, a year-on-year increase of 8.7%. In the first five months, RMB deposits increased by 15.77 trillion yuan. Among them, household deposits increased by 5.63 trillion yuan, non-financial enterprise deposits increased by 1.26 trillion yuan, fiscal deposits increased by 1.91 trillion yuan, and deposits of non-bank financial institutions increased by 5.64 trillion yuan. At the end of May, the balance of foreign currency deposits reached 1.16 trillion US dollars, a year-on-year increase of 17.5%. In the first five months, foreign currency deposits increased by 103.2 billion US dollars.June 12th - Preliminary statistics show that the total social financing scale for the first five months of 2026 reached 17.48 trillion yuan, 1.16 trillion yuan less than the same period last year. Specifically, RMB loans to the real economy increased by 9 trillion yuan, 1.38 trillion yuan less than the same period last year; foreign currency loans to the real economy increased by 115.3 billion yuan (equivalent to RMB), 211.6 billion yuan more than the same period last year; entrusted loans decreased by 103.1 billion yuan, 91.8 billion yuan more than the same period last year; trust loans increased by 5.7 billion yuan, 57 billion yuan less than the same period last year; undiscounted bank acceptance bills decreased by 17.2 billion yuan, 151.4 billion yuan more than the same period last year; net financing of corporate bonds reached 1.67 trillion yuan, 757.7 billion yuan more than the same period last year; net financing of government bonds reached 5.67 trillion yuan, 634 billion yuan less than the same period last year; and domestic equity financing of non-financial enterprises reached 230.5 billion yuan, 79.9 billion yuan more than the same period last year.June 12th - Preliminary statistics show that as of the end of May 2026, the outstanding amount of total social financing was 458.81 trillion yuan, a year-on-year increase of 7.7%. Specifically, outstanding RMB loans to the real economy totaled 277.4 trillion yuan, a year-on-year increase of 5.5%; outstanding foreign currency loans to the real economy (converted to RMB) totaled 1.14 trillion yuan, a year-on-year decrease of 4.3%; outstanding entrusted loans totaled 11.22 trillion yuan, unchanged year-on-year; outstanding trust loans totaled 4.67 trillion yuan, a year-on-year increase of 7.1%; outstanding undiscounted bank acceptance bills totaled 2.13 trillion yuan, a year-on-year decrease of 6.2%; outstanding corporate bonds totaled 35.69 trillion yuan, a year-on-year increase of 8.4%; outstanding government bonds totaled 100.6 trillion yuan, a year-on-year increase of 15.1%; and outstanding domestic shares of non-financial enterprises totaled 12.43 trillion yuan, a year-on-year increase of 4.7%.

As risk aversion grows as measured by the DXY and as attention turns to the US NFP, USD/CHF goes closer to 0.9600

Alina Haynes

Aug 03, 2022 14:51

 截屏2022-08-03 上午9.47.05.png

 

In reaction to the dismal market environment, the US dollar index (DXY) has gained, and the USD/CHF pair is swiftly approaching the key level of 0.9600. After defending Monday's low around 0.9480, the pair had a greater reverse on Tuesday, as the risk-aversion theme strengthened the attraction of the DXY.

 

Following US House Speaker Nancy Pelosi's travel to Taiwan to support Taiwan's local government despite China's wishes, tensions between the US and China have increased. In reaction to the death threats made against Pelosi during her private travel to Taiwan, the US is anticipated to adopt sanctions against China, which encouraged the gloomy market sentiment.

 

In the meanwhile, the DXY has achieved a three-day high of 106.55, although the gain may wane ahead of Friday's US Nonfarm Payrolls (NFP) data. According to market expectations, the U.S. economy added 250,000 jobs to the labor force in July.

 

During a brief period, a number of significant IT companies in the United States abandoned the hiring process, resulting in payroll statistics that multiplied. If the same thing occurs, the Federal Reserve (Fed) will be compelled to speak less about policy rates.

 

On the Swiss franc front, investors anticipate the release of the Consumer Price Index (CPI) numbers. An early estimate of the annual inflation rate places it at 3.5%, little higher than the prior estimate of 3.4%. As a result, the Swiss National Bank (SNB) will be compelled to boost interest rates.


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