China's forex reserves swell for fourth straight month - Xinhua

The central bank is due to release its official forex reserves data on Wednesday, indicating the amount of money flowing in and out of the world's second-biggest economy. "Like any central bank, China doesn't want to see huge swings in the reserve position," he said. Beijing previously burned through its forex reserves to defend the yuan, but the tactic raised doubts about whether hard-earned reserves should be wasted on day-to-day interventions. "The central bank will try to avoid great volatility in the yuan exchange rate," JPMorgan managing director Jing Ulrich said. Beijing's one-way locks on money flows might have helped the country's foreign exchange reserves rise to a six-month high.


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China's forex reserves swell for fourth straight month - Xinhua

Source: Xinhua| 2017-06-07 18:21:06|Editor: xuxinVideo Player CloseBEIJING, June 7 (Xinhua) -- China's foreign exchange stockpile expanded for the fourth month in a row in May after capital flight pressure eased and the value of the renminbi strengthened. It sees a stable outlook for foreign exchange reserves on the back of a stable economy with rich potential and resilience and the emergence of new growth drivers. SAFE attributed the continuous rise of forex reserves to stable cross-border capital flow and appreciation of the non-U.S. dollar assets following a weaker U.S. dollar. As China's economy stands on a firmer footing and the government moves to stem illegal capital flight, the stockpile began to increase steadily from February. China's economy expanded 6.9 percent in the first quarter of the year, up from the 6.8-percent growth in the previous quarter and 6.7 percent for 2016.




Switzerland May forex reserves report 7 Juneprev revised up from CHF 695.94blnFull details from the SNB hereReduced reserves following on from yesterday's reduced domestic sight deposits suggesting less "smoothing" required by SNB for the moment. USDCHF unchanged at 0.9632 but supported still down here I think the SNB still interested to make a presence/cast a shadow if nothing else. EURCHF also finding dip-demand and currently 1.0856


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