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  • Chinese FX reserves below $3 trillion for first time since Feb 2011. They've fallen $1 trillion from peak of $3.993 trillion in June 2014

so?
  •  Guest
  • | IP XXX.XX.57.180
buy usd/xxx, sell xxx/usd...
How does this impact the market?
Trading is not for everyone.
From what I understand, since they are short of $1T USD it means they are no longer buying USD..
Trading is not for everyone.
  •  Guest
  • | IP XXX.XXX.142.207
It does impact a lot commodity currencies such us Aussie ,,, see Aud/Usd falling so if you are a commodity trader look out then you should be on top of China though
Quoting ikouki
From what I understand, since they are short of $1T USD it means they are no longer buying USD..
It could be a sign that Chinese economy isn't going great. They are selling USD to maintain the RMB afloat. There are many other parameters, like capital outflow.

Being a safe haven, the USD should raise
Yes this is true... the CNY as a currency an China are not struggling but just going through a correction. The last 10 years CHINA has been the only country to experience double digits growth.

As for the USD.. i think the USD is still on course to suffer.
Ooooooo the big 3T has been a psychological level the PBOC didn't want to break. I have read reports that China needs to have about 2T in reserves to cope with normal market operations. Thats why China has now made it illegal to use the 50k USD they can take out of the country for property or investments as well as other capital controls to stem outflow.
  •  Guest
  • | IP XX.XXX.40.80
it means that China is selling its foreign currency reserves and buying back yuan to take it out of circulation. This should help increase the value of yuan. chinese yuan has been depreciating against the dollar for some time now and this is there way of preventing the devaluation.
Quoting g_80296377
it means that China is selling its foreign currency reserves and buying back yuan to take it out of circulation. This should help increase the value of yuan. chinese yuan has been depreciating against the dollar for some time now and this is there way of preventing the devaluation.
yes this is true.

facts speak for themselves. USD$ is strong and will remain strong for at least a week, the rest of thiis week, if not, the next several weeks. the fact is USD$ is strong right now and will remain so.

every country in the world should want to make their currency strong. but it's a contest in how to do so.
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  • Story Stats
  • Posted: Feb 7, 2017 3:13am
  • Submitted by:
     Newsstand
    Category: High Impact Breaking News
    Comments: 10  /  Views: 3,620