Its going to be a light data agenda during the Asian session for today.
I've stuck a box around one thing that'll come later from China. Justin will pick it up. FX reserves data include data on gold purchases, which is much awaited. The People's Bank of China (PBOC) typically publishes updates on its gold reserves monthly, with data released through the State Administration of Foreign Exchange (SAFE). These updates are generally made available in the first week of each month, detailing the reserves as of the end of the previous month.
In 2024, the People's Bank of China (PBOC) exhibited notable activity in its gold purchasing strategy:
January to May 2024: The PBOC continued its gold acquisition, extending an 18-month buying streak that began in November 2022. During this period, the central bank added approximately 57 tonnes to its reserves in the first quarter alone.
May 2024: In May, the PBOC paused its gold purchases, maintaining holdings at 72.80 million troy ounces. This pause coincided with gold prices reaching record highs, suggesting a strategic decision to await more favorable pricing.
June to October 2024: The central bank maintained its pause on gold acquisitions for six consecutive months, with holdings remaining unchanged. Despite the lack of new purchases, the value of China's gold reserves increased due to rising gold prices, with the share of gold in the PBOC's overall reserves reaching 5.7% by the end of October.
November 2024: The PBOC resumed its gold purchasing, adding 5 tonnes to its reserves, bringing total holdings to 72.96 million troy ounces. This resumption occurred amid a post-U.S. election sell-off that led to a dip in gold prices, potentially providing a more opportune buying environment.
Throughout 2024, the PBOC's gold purchasing strategy appeared responsive to global economic conditions and gold price fluctuations, balancing reserve diversification with market timing considerations.
This snapshot from the ForexLive economic data calendar, access it here.
The times in the left-most column are GMT.
The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.
This article was written by Eamonn Sheridan at www.forexlive.com.Hence then, the article about economic calendar in asia tuesday january 7 2025 a light one was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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