Meet the New Chinese Leadership

China announced its new leadership lineup on Wednesday with President Xi Jinping still at the helm of the Chinese Communist Party. Although it’s a team in name, the Chinese president is now more powerful than he’s ever been — especially as there’s no clear successor to Xi in the new lineup.In the wake of the last week’s Communist Party congress, Xi now stands as China’s most powerful leader in years. And he’s expected to use that authority to steer the country into a position of global leadership on its own terms.”As the world’s largest political party, the [Communist Party of China] must behave in a way commensurate with this status,” Xi said through a translator on Wednesday after the new leadership was announced.

Source: Chinese Communist Party Meet Politburo Standing Committee members

The Aussie Dollar Plummets

There is a lot to digest

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.