The selling pressure of foreign investors has eased, and exporters have helped by selling foreign exchange! The New Taiwan dollar rose from depreciation in the afternoon to close at 32.452 yuan.

After the consecutive holidays, Taiwan stocks opened higher, once turned black during the session, but still closed in the red at the end of the session; as the selling pressure from foreign investors eased, and exporters' demand for foreign exchange increased at the end of the month, the exchange rate of the New Taiwan dollar against the US dollar also rose from depreciation in the afternoon, and finally closed at 32.452 yuan, an appreciation of 5.6 cents, with a total trading volume of 3.436 billion yuan.

The New Taiwan dollar opened at 32.53 yuan today. Affected by the strength of the U.S. dollar in early trading and the continued digestion of remittance pressure after foreign capital oversold last Thursday, the Taiwan dollar dropped to a low of 32.604 yuan, depreciating 9.6 cents at one point. However, in the afternoon, as the selling pressure from foreign investors eased and exporters entered the market to sell foreign exchange, the exchange rate gradually recovered its lost ground. Finally, it rose from the downward trend and returned to the price of 32.4 yuan. The intraday price difference between the high and low prices reached 1.52 cents.

Huiyin insiders pointed out that the main reason for the recent weakness of the New Taiwan Dollar is that foreign investors continue to adjust Taiwan stocks, and stock selling funds are repatriated in large quantities. This wave of foreign selling pressure is related to the market's concerns about the AI ​​industry's huge capital expenditures, financing risks, and high valuations of technology stocks. Although the Philadelphia Semiconductor Index rebounded for two consecutive days during the holidays, it remains to be seen whether market concerns have been completely resolved.

In addition, this week has entered Super Central Bank Week, and the European Central Bank, the U.S. Federal Reserve (Fed) and the Bank of Japan will hold interest rate decision-making meetings one after another. The market generally expects the Fed to keep interest rates unchanged, but it is still necessary to pay attention to whether the post-meeting statement and official comments will continue to be hawkish. If the market expects higher U.S. interest rates to remain high for longer, the U.S. dollar may remain at a high level, limiting the room for Asian currencies to rebound.

Looking into the market outlook, Huiyin people believe that although the New Taiwan dollar is supported by exporters selling foreign exchange at the end of the month in the short term, foreign capital has not yet returned significantly, and the exchange rate is likely to remain volatile.