Chinese Capital Outflows Slowdown in Q1

Pressure on capital outflows from China eased significantly in the first quarter, a spokeswoman for the country’s foreign exchange regulator said on Thursday.

Expectations for yuan depreciation have weakened significantly so far this year, State Administration of Foreign Exchange spokeswoman Wang Chunying told a news conference.



China’s commercial banks sold a net $40.9 billion in foreign exchange in the first quarter, SAFE data on Thursday showed, down significantly from $124.8 billion in net sales in the first quarter of 2016.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza