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« Autotrading now available for non-US residents! | Main | Barrick Gold Turns to New Finance Chief »
Tuesday
Apr262016

Stabilization of China's Capital Outflows May Hinge on Janet Yellen

Stable yuan has calmed a rush to get money out of China


Outlook depends on what the Fed signals for U.S. rate hikes

Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen.

If the Federal Reserve chair sticks to a dovish script this week, there would be no obvious trigger for a greenback rally and resulting cue for Chinese companies and savers to squirrel money out of the nation. Any signal of an imminent interest-rate increase, and it’s a different story -- a U.S. dollar rally could suck money out of China, posing an added complication for the People’s Bank of China’s efforts to underpineconomic growth

“The Fed and China are stuck in an uncomfortable dance,” said Frederic Neumann, co-head of Asian economic research at HSBC Holdings Plc. “This yin-yang of the Fed and the PBOC could thus reignite volatility down the road.”

 

read more.......

 

 Gold is going sideways at the moment - that could be it, for now

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