China Q4 final current account data just out 29 March
- 2017 final current account surplus $164.9 bln vs $172bln prev
- Q4 capital & current surplus $3.9bln vs prelim deficit $62.2$
- 2017 capital & current surplus $57bln vs $9.1bln deficit
Also from SAFE , the FX regulator:
- China expects cross-border flows to remain basically stable in 2018 but uncertainties still exit
- current account surplus will remain at reasonable level in 2018
- will improve FX reserves management capabilities this year
- domestic firms expected to allocate their overseas assets more rationally in 2018
- market views on yuan exchange rate level is reasonably divided
More reforms on the way as China continues a very difficult balancing act. Not to mention US trade issues.
AUDUSD catching a bid and up to 0.7680 from 0.7665.
"So what dya reckon? Yuan up or down? " "Search me, just keep passing the bamboo"
