It’s all about China today: Three stories are dominating

There are three China stories you need to know today:

1) China says it will implement a ‘moderately loose’ monetary policy

In terms of monetary policy signals, this is as good as it gets. It came with pledges for a ‘more proactive’ fiscal policy as well. All systems go as US-listed China ETFs up 6%. The Australian dollar is the leader in FX and commodities are bid.

2) China’s central bank buys gold

China’s central bank bought its first gold since May. That’s helped to lift gold by more than $30 and threaten the best levels since Nov 25.

3) China opened an anti-trust investigation into Nvidia

A report said the Chinese government believes Nvidia’s purchase of Israeli networking
company Mellanox could violate the country’s anti-monopoly laws. Shares of NVDA are down 2% and chipmakers will be eyed to start the week but it’s likely to be some fresh angle in the bubbling US trade war.

This article was written by Adam Button at www.forexlive.com.