2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
Chinese funds spur equity exposure to seven-month maximum
For the next three months Chinese fund managers managed to spur their suggested equity exposure to the maximum of seven months because recent economic data assisted to raise expectations for the world's number two economy, as a monthly Reuters survey unveiled.
The fund managers increased their suggested equity allocations to about 78.8% from 73.8% in September, according to a survey of eight China-based fund managers, which was conducted this week.
As a matter of fact, the fund managers have curtailed their suggested bond allocations for the approaching three months to 8.1% from last month’s reading of 10%.
Besides this, they have diminished recommended cash allocations to approximately 13.1% for the next three months versus 16.3% in September.
In September, China's major financial institution reduced the amount of cash, which some commercial banks are bound to hold as reserves for the first time since February last year, in an attempt to spur more lending to struggling smaller businesses and revive its lackluster private sector.
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.
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…
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
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.