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China's FX reserves weaker for January

China's FX reserves lower in January

China's FX reserves, for January, dropped more than predicted, thus approaching close to their weakest level since Feb 2011, according to the nation's official data today.

China's FX reserves to $2.988 trillion

The Chinese FX reserves approached $2.998 trillion, declining $12.3 billion last month, as per the People's Bank of China report release. The economists and the analysts predicted the indicator to drop from $3.011 trillion to $3.000 trillion.

Germany

Germany's industrial production dropped from 0.5% to -0.3%. The analysts predicted the German IP to appreciate 0.3%.

Australia's CB holds rates stable

The central bank of Australia, amid its first policy meeting for 2017, kept rates stable at 1.5% for the seventh straight month.

U.S. dollar higher to counterparts

The U.S dollar traded higher today versus its counterparts, amid the recent political uncertainty in place.

The U.S. dollar index traded to 100.62, rising 0.78%, the EUR/USD approached the 1.0663 zone, declining 0.77%, the USD/JPY reached the 112.23 level, appreciating 0.46%, and the GBP/USD at 1.2367, falling 0.82%.

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ArgusFX Review

Tuesday, 07 Feb, 2017 / 2:25

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Source : https://www.argusfx.com/en/research-education/market-analysis/news/china-s-fx-reserves-weaker-for-january

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