China State Planner NDRC: Will guide and strengthen financing support for private-invested projects

Anil Panchal FXStreet

Early Monday in Asia, China state planner National Development and Reform Commission (NDRC) issued a notice to promote the high-quality development of private investment.

The Chinese State Planner also showed readiness to spur the activity of private investment, per Reuters. In doing so, the NDRC pledges to encourage participation in some projects of transport, water and clean energy, as well as in new infrastructure and modern agriculture.

China’s NDRC further detailed the plan to boost private investment while saying that it will select several sub-sectors with large market space, strong development potential, in line with major national strategies.

“We will guide and strengthen financing support for private-invested projects,” added the key decision body from China.

The NDRC also showed readiness to help the private enterprises make better investment decisions while also pushing for more private capital to participate in the construction of national major projects and projects for replenishment of key industry chain and supply chain projects.

Market reaction

AUD/USD remains pressured around 0.6730, pays a little heed to the news as market players remain cautious ahead of the key week.

Also read: AUD/USD bears approach 0.6700 on mixed Australia PMI, focus on US data, Fed for clear directions

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD stays weak above 1.1750 ahead of German/ EU PMI data

EUR/USD remains on the back foot above 1.1850 in the European session on Friday, well within striking distance of a nearly one-month low set the previous day. Unabated US Dollar demand and nervousness ahead of the German and Eurozone business PMI data keep the pair undermined.

GBP/USD recovers above 1.3450 after strong UK Retail Sales data

GBP/USD is recovering ground above 1.3450 in European trading on Friday, helped by a modest uptick in the Pound Sterling after a bigger-than-expected increase in the UK Retail Sales for January. However, the further upside appears limited in the pair amid persistent US Dollar strength and ahead of key UK and US data.

Gold rises for third day on geopolitical risks, US data eyed

Gold gains some positive traction for the third consecutive day on Friday. The upside potential, however, seems limited amid the mixed fundamental backdrop. Moreover, traders might opt to wait for the key US macro releases – the Advance Q4 GDP report and the Personal Consumption Expenditures (PCE) Price Index – before placing fresh directional bets.

Bitcoin, Ethereum and Ripple remain range-bound as breakdown risks rise

Bitcoin, Ethereum, and Ripple are trading sideways within consolidation ranges on Friday, signaling a lack of directional bias in the broader crypto market. BTC rebounded from key support, and ETH is nearing the lower consolidation boundary, while XRP is holding at its lower trendline boundary.

Hawkish Fed minutes and a market finding its footing

It was green across the board for US Stock market indexes at the close on Wednesday, with most S&P 500 names ending higher, adding 38 points (0.6%) to 6,881 overall. At the GICS sector level, energy led gains, followed by technology and consumer discretionary, while utilities and real estate posted the largest losses.

Official Trump price approaches breakout with mixed signals from traders

Official Trump (TRUMP) is trading at $3.50 at the time of writing, approaching its upper consolidation range. A breakout from this range could open the door for an upside move. On-chain data shows market indecision, with balanced flows between bulls and bears, signaling a lack of clear directional bias.