The current bullish trend for copper shows no sign of slowing just yet with the red metal touching a 3 year high largely driven by increasing demand from China(FXI, quote), along with a fall in inventories in the London warehouses.
AUDUSD had been trading inside an ascending triangle on its long-term time frame and has just broken past the resistance at the .7750 minor psychological mark.
China’s central bank injected 30 billion yuan (4.76 billion U.S. dollars) into the financial system via open market operations on Monday to maintain stable liquidity.
China’s central bank renewed its cash injection via open market operations to ease liquidity on Tuesday after suspending the move for two trading days.
AUDUSD has been trending lower recently and is now moving inside a descending channel on its 4-hour chart. Price just bounced off support and is looking to pull back to the resistance at the .7450 minor psychological level.
China’s (FXI, quote) central bank continued cash injections into the money market through open market operations on Tuesday to ease liquidity.
New tax cuts to spur economic dynamism were approved at the State Council’s executive meeting, presided over by Premier Li Keqiang, on Wednesday. Some pilot taxation incentives will be expanded, and the value added tax will be consolidated.
China increased its holding of U.S. Treasury securities in February after cutting 7.3 billion U.S. dollars in the previous month, the latest data from the U.S. Treasury Department showed on Monday.
China’s current account surplus stood at 196.4 billion U.S. dollars last year, the country’s foreign exchange regulator said Thursday.
China’s e-commerce giant Alibaba group on Wednesday announced a plan to set up an e-commerce hub in Malaysia encompassing logistics, cloud-computing and e-financial service to boost trade and e-commerce in the region.
