The rise in China’s FX reserves in July was more than expected.
- +$21.88 bn to $3.236 tln (expected $3.217 tln, $3.214 tln in June)
The rising tide of regulatory intervention we’ve been seeing in past weeks will increase the prospect of less inflow in the months shead.
On gold, Reuters report holdings unchanged in July:
- China held 62.64 million fine troy ounces of gold at the end of July, from 62.64 million ounces at the end-June.