March 2016

[admin]

This is actually very good news:

The yuan strengthened after China’s central bank raised its fixing for the fourth day in a row and data showed a less-than-estimated drop in the nation’s foreign-exchange reserves. The currency stockpile shrank by $28.6 billion last month, the smallest decline since June, to $3.2 trillion, the People’s Bank of China said on Monday. That’s lower than the $40.9 billion decrease predicted in a Bloomberg survey of economists, and compares with December’s record drop of $108 billion as the monetary authority supported the yuan.

Yuan Strengthens as PBOC Raises Fixing, Reserves Slow Decline - Bloomberg Business

Capital outflows are slowing, at least for now and this eases the possibility of a substantial yuan depreciation, which would be really bad news for the world economy.

Curious futures are down.