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.
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.
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…
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2022 was rough: inflation, energy crisis, and plenty of other controversial situations…