China is building up its ‘shadow reserves’ to counter its reliance on the US dollar

  • Ongoing trade tensions with the U.S. has “increased the risk of a financial decoupling” between the two largest economies.
  • Beijing will therefore manage its risk by diversifying its foreign exchange reserves into other currencies, ANZ predicted, as well as build up its “shadow reserves.”
  • Beijing is gradually reducing its holdings of U.S. Treasurys, which it is heavily invested in, and it has been going on a gold buying spree. USD IS A WEAPON

TECHNICAL CHARTS

KEY TAKEAWAYS

  • AUD, CAD & NZD in the recent month have taken the beatings to the south
  • We believe that the downside is over for all these commodity pairs
  • Ensure you have tight stop losses as the trend are against them
  • Good money management and proper lot sizes are very important

Learn to trade with a demo account Register to open a Practice Account

Article by: Ashok MBA – Strategic Financial Coach

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