Edward Culchenko
The Chinese authorities are planning to invest $1.7 trillion in the country’s strategic economic sectors (including IT, alternative energy, biotechnology and environmental protection) within the next 5 years. Some analysts expect China to attract foreign investments as well.
It was previously reported that the import/export of mineral resources roughly account for 35% of China’s external trade. The country is dependent on the import of iron ore, copper, zinc, oil and natural gas. China has to take into account that the global demand for natural resources will keep growing despite the fact that the global economy is in stagnation.
Forex.
USDCNY is in downtrend. According to experts, even though this morning the currency pair broke below the bottom of the MF sloping channel, it is still too early to consider the completion of the bearish wave A/B of Daily. Confirmation signs are needed (a break above 6,3151 followed by an upward FZR). At the same time, in order to resume the downtrend, USDCNY will have to overcome the 6,287 low.
Edward Culchenko
