At the New York close on August 7, the offshore RMB against the USD was quoted at 6.7429 yuan, up 47 pips from the previous day. Influenced by the US Non-Farm Employment report, the exchange rate rose significantly, accumulating a gain of approximately 0.13% for the week. Technically, the offshore RMB is approaching the low point of February 2023 and multiple historical resistance zones, while testing the 50-quarter moving average (currently at 6.7740 yuan)
On Friday (August 7), at the New York close (04:59 Beijing time on Saturday), the offshore renminbi (CNH) against the US dollar was quoted at 6.7429 yuan, up 47 pips from the New York close on Thursday. During the day, it generally traded in the range of 6.75-6.7401 yuan. It rose significantly when the US Non-Farm Employment report was released, accumulating a gain of approximately 0.13% for the week.
On the daily chart, the offshore renminbi is approaching the final quote of 6.7377 yuan on February 2, 2023, the final quote of 6.7195 yuan on February 1 of that year, the high of 6.6975 yuan on January 16 of that year, and the high of 6.6170 yuan on June 3, 2022.
On a quarterly basis, the offshore renminbi is testing the 50-quarter moving average (this technical indicator is currently quoted at 6.7740 yuan).