Big AI wants to slow down AI research. Is it a safety pause or a strategic retreat? 
What is Zionism? The different meanings of a contested term 
1 in 3 uni students experience serious financial hardship. Could concession cards for all help? 
Unsustainable – or manageable? We don’t yet know how data centres will impact Australia’s environment 
Europe can’t achieve space sovereignty alone. Here’s why 
‘Buy now, pay later’ doesn’t feel like debt. For young people, that can be a big problem 
AI is supercharging money scams – here’s what you can do to protect yourself 
Gold Slides to $4,262 as Hawkish Fed Rate Hike Triggers Technical Breakdown 
Goldman Sachs Forecasts Fed Rate Hike as Inflation Risks Rise 
Add as a preferred source on Google
Latest data shows that hot money outflow from China continued in September.
- As of data from Peoples Bank of China (PBoC), China's FX reserve sank by another $43 billion in September. This downfall in reserve came in the back of large trade surplus and positive foreign direct investment suggesting capital account outflow could be as high as $100 billion.
- In August. FX reserve dropped by $94 billion, sharpest monthly fall on record. China's FX reserve peaked in June 2014 almost at $4 trillion and from there in little more than a year, it has now fallen to $3.514 trillion, lowest since July 2013.
Forex reserve has declined so far in every month this year, except for April and is now declining at an average pace of $36.5 billion per month.
In August PBoC devalued Yuan via fix by as much as 2%, which led to massive market turmoil in August. An estimated $130 billion might have flown out of China in August, compared to that pace has greatly reduced in September. Still far from stabilizing.
While China has enough firepower to maintain a de-facto peg with Dollar against Yuan, which is currently trading at 6.35 (USD/CNY). Yuan has actually appreciated from 6.45 in August. If flow data shows no reversal in outflow in October, appreciation suggests PBoC's invisible hand in play.
