The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
China makes state companies guard against soaring overseas corruption risks
On Monday, China's corruption watchdog made its state-owned companies immediately guard against the ascending risk of corruption in their overseas entities, telling that it was a number one task of every company's Communist Party cell.
As the Central Commission for Discipline Inspection told, it had issued corresponding guidance instructing state companies to deal with such risks, which could arise from their overseas personnel as well as decision-making.
The major aim was to ensure the safety of the country’s assets and also make its state enterprises sturdy and cutting-edge, thus cultivating world-class enterprises, which are competitive worldwide.
The country’s wide-ranging crackdown on corruption has mostly concentrated on the domestic operations of its state-owned companies, rather than their overseas activities.
In 2015, China’s authorities told it would have the overseas assets of its SOEs audited after the state news agency Xinhua unveiled that the authorities don’t audit the 4 trillion Yuan of assets such companies hold overseas.
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…