As the Christmas holiday approaches and traders gradually step away from their desks, the market trading activity is gradually subsiding. The US dollar exchange rate is showing a sideways movement this Tuesday, without significant fluctuations in response to various external news.
Despite the news that China plans to issue a record 3 trillion yuan of special treasury bonds in 2025, which has attracted widespread attention in the global market, the US dollar remains unmoved and maintains a relatively stable trend. It is reported that Chinese policymakers aim to inject a large amount of capital to support domestic consumption subsidy programs, assist enterprises in equipment upgrades, and increase investment in key technologies and advanced manufacturing fields, thus injecting new vitality into economic growth and reversing the current slowdown in economic growth.
Currently, the US Dollar Index (DXY) is firmly above 108.00, just a short distance away from hitting a two-year high. On Tuesday, the US dollar exchange rate climbed slightly, with the DXY trading slightly above 108.00. The market trading atmosphere has become increasingly subdued as the Christmas holiday approaches. Although Reuters reported on China’s treasury bond issuance plan on Tuesday, the movement of the US dollar has not been significantly affected and still maintains a stable state.
Looking at the domestic economic situation in the United States, Tuesday’s economic data calendar is relatively light, with only regional survey indicators such as the Philadelphia Fed Non-Manufacturing Activity Index and the Richmond Fed Manufacturing Index for December being released. Judging from the recent economic data, the situation of the US manufacturing industry is not optimistic. Multiple indicators have continuously sounded alarms, indicating that the industry is accelerating into a contraction dilemma.
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