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1. The RMB exchange rate has "greatly appreciated"!

The yen's exchange rate against the dollar has experienced significant volatility recently, climbing as high as 12% before falling back to stabilize at around 9%. Meanwhile, the yuan's exchange rate against the dollar has grown more modestly, appreciating by only 2%, indicating a steady and orderly trend.

As market expectations of the Fed's possible rate cuts grew, many companies accelerated the pace of converting foreign currencies into their own currencies, which undoubtedly accelerated the appreciation of the RMB. However, as these conversion activities were gradually completed, the RMB exchange rate began to stabilize, recovering from a low of 7.1 to around 7.15.

In addition, as expectations for the Federal Reserve to cut interest rates in September become increasingly clear, this will bring more policy space for interest rate cuts and reserve requirement ratio cuts to the market, which may further push up the RMB exchange rate.

2. Gold prices climbed to new heights! In the first half of the year, the profitability of gold concept stocks was significant.

Since July, the market has generally expected the Federal Reserve to cut interest rates ahead of schedule and significantly, which has driven the continued rise in gold prices. According to the latest data, the gold investment strategy remains optimistic in August, based on the four main characteristics of gold.