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China crisis

January 7th, 2016 · No Comments

Funny enough, the previous article was written in September, arguing the China forex figures are the most important market indicator right now. Indeed:

China is burning through cash as it battles to support the yuan. The nation’s foreign currency reserves tumbled by a record $108 billion in December as the central bank sold dollars to stem a slide in the currency. That was about four times greater than analysts predicted in a Bloomberg survey, and reduced the stockpile to the lowest level in three years. Despite the intervention, the yuan’s descent has steepened, with the currency falling to a five-year low on Thursday.

January 2016

We’ll keep you up to date in the forum

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