Analysts at Nomura note that China’s headline FX reserves in September fell by USD22.7bn m-o-m to USD3087.0bn (released on 7 October). Key Quotes “This was below both consensus and our forecasts of USD3105.0bn and USD3104.7bn, respectively. Adjusting for FX valuation and coupon payment effects, China’s FX reserves fell by USD24.2bn m-o-m, a slightly bigger fall than August’s USD17.4bn drop.” “Despite a measured drift higher in USD/RMB through September (USD/CNH and USD/CNY were higher by 44bp and 61bp, respectively) – which we believe was somewhat limited by the capping of the USD/CNY fixing via counter-cyclical factor and periods of mild CNH liquidity tightening – the drop in adjusted FX reserves points to a marginal deterioration of China’s near-term capital flow dynamics, in line with some of the high-frequency flow data we track.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Forex Today: US treasury yields hit new highs, but USD fails to pick up a bid FX Street 4 years Analysts at Nomura note that China's headline FX reserves in September fell by USD22.7bn m-o-m to USD3087.0bn (released on 7 October). Key Quotes "This was below both consensus and our forecasts of USD3105.0bn and USD3104.7bn, respectively. Adjusting for FX valuation and coupon payment effects, China's FX reserves fell by USD24.2bn m-o-m, a slightly bigger fall than August's USD17.4bn drop." "Despite a measured drift higher in USD/RMB through September (USD/CNH and USD/CNY were higher by 44bp and 61bp, respectively) - which we believe was somewhat limited by the capping of the USD/CNY fixing via counter-cyclical factor and periods of mild CNH… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
