China’s SAFE: Current account balance to remain within reasonable range in H2 2020

Dhwani Mehta FXStreet

China’s current account balance is expected to remain within a reasonable range in H2 2020, the country’s forex regulator, the State Administration of Foreign Exchange (SAFE), said in a statement released on Friday.

Additional quotes

“Expects cross-border capital flows and fx reserves to remain stable in H2. “

“Expects current account to show a small surplus in 2020.”

“Current account surplus equivalent to 1.2% of GDP in H1.”

Market reaction

The Chinese proxy, the aussie dollar, is little affected by the statement from the Chinese fx regulator.

AUD/USD remains at the mercy of the US dollar dynamics, retreating to 0.7050 area, still up 0.15% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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