Published: 2024-01-29T04:42:34.000Z
AUD/USD flows: Well Supported

FX Analyst
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China plans to incorporate 3 of its big managers of bad debts into sovereign wealth fund
China property developer Evergrande faces imminent liquidation
China tightens short selling restrictions
While the key headline over the weekend is no doubt an escalation of geopolitical tension, we also have multiple headlines crossing the wires for the Chinese financial sector. China plans to incorporate 3 of its big managers (Cinda, Orient, Great Wall) of bad debts into sovereign wealth fund, China Investment Corp. They also tightens short selling restrictions. The Hong Kong Court ordered Evergrande's imminent liquidation after months of dragging on. At the end of the day, regional equities are in the green and see the Aussie being supported.
The AUD/USD is trading 0.27% higher at 0.6594 as commodity prices are solid on geopolitical tension.