Forex today: lots of movement
The US dollar index is falling. It has declined to $93.90 from the Friday’s high of $94.20.
Chinese funds reduce equity exposure to one-year minimum
For the next three months Chinese fund managers reduced their suggested equity exposure to the lowest value for more than a year, amid concerns regarding tightening liquidity as well as profit-taking by institutional investors because the year-end is getting closer.
The fund managers cut their suggested equity allocations to approximately 71.9% from 79.4% in November, according to a survey of 8 China-based fund managers, which was conducted this week.
The fund managers have spurred their suggested bond allocations for the nearer three months to 6.9% from 5.6% the previous month.
Additionally, they have also lifted recommended cash allocations to approximately i21.3% for the next three months versus 15% last month.
Liquidity conditions appear to be a huge concern ahead of the year-end. Besides this investors worry that monetary policy would be tightened in 2018.
The fund managers polled were still mixed on asset allocations for the upcoming month, with three forecasting a cut and just one pointing to a jump, and four suggested the same level of equity exposure.
Similar
US orders for durable goods dive more than predicted in April
In April, orders for durable goods in the United States went down by about 1…
#WeeklyCryptoNews
Bitcoin is plunging. Negative comments in the media and stricter regulations continue to weight on the cryptocurrency.
Popular
America will probe German and Japanese car makers over alleged patent violations
America’s on the verge of starting an investigation into whether thermoplastic components utilized in some Japanese as well as German vehicles sold in the country violate its patent laws or not…
Gold edges down toward 3-week minimum after Congress hits spending deal
On Monday, gold headed south in European trade, making its way toward a three-week minimum after American congressional leaders came to an agreement to fund the government via the fall, thus easing worries as for a shutdown of the federal government…
Crude edges down in Asia on Caixin PMI
On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…
Deposit with your local payment systems
