What macroeconomic concepts can I use to analyze Gross International Reserves?

Question

We were asked to analyzed this article

http://business.inquirer.net/money/topstories/view/20080707-146930/Foreign-exchange-reserves-climb-to-367B-in-June

The law of supply is the only thing that I can think to use in this article. Well, it is a micro-economic concept but our class is macroeconomics. What macroeconomi concepts can I use?

Answer 1

You can for sure use net export (balance of trade, trade account), capital flows, current account, (some of these have same meaning but sources of information are different), exchange rate affecting factors, central bank risks, foreign debt analysis etc.