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on the news

1. unexpected decision to raise interest rates! the russian central bank announced a rate hike decision: the benchmark interest rate was raised by 100 basis points to 19.00%, exceeding the market expectation of 18.00%, and the deposit rate also rose accordingly. at the same time, russia's cpi inflation rate in august was 9.1%, and the cpi has risen by 5.35% so far in 2024.

if the central bank does not follow suit with the interest rate cut (there will be lpr in china this friday) to add fuel to the flames, then under the current circumstances, the fed's interest rate cut may have little impact on the a-share market, and it is highly likely that it will not rise! the reason is very direct, the interest rate cut is not enough to support the large-scale flow of funds from us stocks to a-shares to buy the bottom. in addition, although the rmb exchange rate has appreciated significantly, market confidence is still insufficient! in the final analysis, the iron must be hard, and you can only rely on yourself.

2. the rmb exchange rate has risen sharply!

if the fed accelerates its pace of interest rate cuts, the rmb exchange rate against the us dollar may move towards the 7 yuan mark. the onshore rmb exchange rate against the us dollar once reached 7.0606 yuan, setting a new high.