# CNY: Capital outflow pressures eased – Westpac — Octa

> Westpac reports that capital outflow pressures on the yuan have eased, with banks' net foreign currency settlement turning positive in September and October after 26 months of net sales. It notes that outflows through the errors and omissions item remain significant.

- Date: 2017-12-05 · published 2017-12-05T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/67714-cny-capital-outflow-pressures-eased-westpac-octa
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Easing outflow pressure supports a firmer yuan, which lowers the local cost of dollar-priced imports and can support Chinese feed demand. The impact on grain prices is indirect.

## Read by commodity

- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-06-29 | [CNY rally on the back of broad USD depreciation - Westpac — Octa](https://feedsoft.ai/events/11185-cny-rally-on-the-back-of-broad-usd-depreciation-westpac-octa.md) | +0.0% | -0.8% |
| USDCNY | 2017-08-29 | [Downside pressure persists on USD/CNY – Danske Bank — Octa](https://feedsoft.ai/events/10855-downside-pressure-persists-on-usd-cny-danske-bank-octa.md) | -1.1% | +0.4% |
| USDCNY | 2024-01-01 | [Yuan Seen Rising Versus Dollar in 2024 as Capital Outflows Ease](https://feedsoft.ai/events/32923-yuan-seen-rising-versus-dollar-in-2024-as-capital-outflows-ease.md) | +0.8% | +1.1% |
| USDCNY | 2017-10-12 | [USD/CNY: Volatility interpreted as more to the downside - Westpac — Octa](https://feedsoft.ai/events/6411-usd-cny-volatility-interpreted-as-more-to-the-downside-westpac-octa.md) | +0.6% | +0.6% |
| USDCNY | 2017-08-31 | [CNY seems to have decoupled from the broader market - Westpac — Octa](https://feedsoft.ai/events/69674-cny-seems-to-have-decoupled-from-the-broader-market-westpac-octa.md) | -1.7% | +1.0% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/518222/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.