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During the first quarter, capital outflows from China eased considerably, with cross border capital flows getting more balanced, as the foreign exchange regulator told on Thursday.
Less pressure from outflows has already helped to steady the Chinese Yuan this year and also brought China's foreign currency reserves back over the closely monitored $3 trillion mark.
Hopes for further Yuan depreciation have dropped considerably, as State Administration of Foreign Exchange spokeswoman Wang Chunying revealed at a news conference.
Net foreign exchange sales by China's commercial banks dropped steeply during the first quarter after policymakers tightened supervision on money leaving China and as a weaker greenback took pressure of the Yuan as well as other emerging currencies.
Net sales of foreign exchange by Chinese commercial banks edged down to $40.9 billion during the first quarter, compared with $124.8 billion in the first quarter of the previous year and $337.7 billion in sales in 2016, as SAFE data disclosed.
American mortgage applications tacked on for the first time for five weeks because most home borrowing costs kept to their lowest value for 10 months…
The releases of employment change and the unemployment rate for Australia are expected on February 21, at 2:30 MT time.
The release of the Federal open market committee (FOMC) meeting minutes is scheduled on February 20, at 21.00 MT time.
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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