瑞郎/人民币 (CHFCNY) 加自选

周五，人民币兑美元升值至7.225元，尽管中国大陆放假，但由于中美贸易谈判有进展的迹象，人民币仍在走强至五个月高点。根据中国商务部的一份声明，美国高级官员近日多次试图通过相关渠道进行接触，寻求就关税问题展开对话。作为回应，中国官员重申他们要求美国通过取消所有单方面关税来“纠正其错误行为”。此外，北京对多个行业免除了对美国125%的互惠关税，这表明尽管有反对美国保护主义的严格言论，但它的目标是刺激商品流动。此前，最新数据显示，4月份中国制造商的出口订单降至近三年低点。最后，随着北京承诺采取更积极的刺激措施，人们对消费增加的希望支撑了人民币。

The Chinese yuan appreciated to 7.225 per dollar on Friday, extending is strengthening to a five-month high despite the holiday in the mainland amid hints of progress in US-Sino trade talks. According to a statement from China’s Ministry of Commerce, senior US officials have made multiple attempts to engage through relevant channels in recent days, seeking to open a dialogue on tariff issues. In response, Chinese officials reaffirmed their demand for the US to “correct its wrongdoings” by lifting all unilateral tariffs. Additionally, Beijing exempted multiple sectors from it 125% reciprocal tariff package on the US, signaling that it aims to stimulate flows of goods despite the strict rhetoric against US protectionism. This was after fresh data showed that export orders for Chinese manufacturers sank to a near three-year low in April. Lastly, the yuan was supported by hopes of higher consumption as Beijing pledges more aggressive stimulus.

在今天的就业报告发布之前，中国的骗局对美元造成了压力。概述：在第一季度GDP收缩被剖析后，美国经济并没有像许多人担心的那样糟糕，这一观点帮助美元昨日似乎证实了触底模式。然而，在美国就业报告公布之前，中国正在考虑美国贸易谈判请求的迹象提振了今天的风险偏好，并拖累美元走低。

China's Feint Weighs on the Greenback Ahead of Today's Employment Report.Overview: Ideas that the US economy is not doing as poorly as many feared after the Q1 GDP contraction was dissected helped the dollar appear to confirm a bottoming pattern yesterday. However, indications that China is considering the US request for trade talks have bolstered risk-appetites today, ahead of the US jobs report and dragged the greenback lower.

欧元区制造业采购经理人指数最终定为49.0，如果中国出口转向欧洲，将面临风险。欧元区制造业在4月份显示出进一步企稳的迹象，PMI制造业指数最终确定为49.0，为32个月来的最高水平。产出增长表现突出，达到51.5的37个月高点，反映了经济活动的适度但令人鼓舞的改善。

Eurozone PMI manufacturing finalized at 49.0, at risk if Chinese exports divert toward Europe.Eurozone manufacturing sector showed further signs of stabilization in April, with PMI Manufacturing Index finalized at 49.0, its highest reading in 32 months. Output growth was a standout, reaching a 37-month high at 51.5, reflecting a modest but encouraging improvement in activity.

瑞士procure.ch制造业采购经理人指数从3月份的48.9降至2025年4月的45.8，创下9个月新低，低于市场预期的48.6。这是该指数连续第28个月保持在50点以下，表明该行业正在收缩。报告强调，过去一年，瑞士制造商越来越受到保护主义贸易措施的影响。关键组成部分显示出广泛的疲软：订单积压下降5.5点至44.6，采购量下降1.1点至44.1，就业下降3.7点至44.0，库存下降2.5点至41.5，成品库存下降4.4点至42.3，采购价格下降2.8点至47.8。唯一积极的发展是产量略有上升，上涨1.3点至49.7点，但仍处于收缩区间。

The Swiss procure.ch Manufacturing PMI dropped to 45.8 in April 2025 from 48.9 in March, marking a nine-month low and falling short of market expectations of 48.6. This was the 28th consecutive month the index remained below the 50-point threshold, indicating ongoing contraction in the sector. The report highlighted that Swiss manufacturers have been increasingly impacted by rising protectionist trade measures over the past year. Key components showed broad-based weakness: order backlogs fell 5.5 points to 44.6, purchasing volumes dropped 1.1 points to 44.1, employment slipped 3.7 points to 44.0, inventories declined 2.5 points to 41.5, finished goods stocks fell 4.4 points to 42.3, and purchasing prices eased 2.8 points to 47.8. The only positive development was a slight rise in production, which gained 1.3 points to 49.7, though it still remained in contraction territory.