MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1025 Weds; -5.39% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1025 WEDS VS 7.1028

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MNI EM China Daily Summary: Tuesday, April 16

MNI BRIEF: Japan March Exports Hit 4th Straight Rise

Japan Mar Exports +7.3% Y/Y; Imports -4.9% Y/Y

MNI: JAPAN MARCH EXPORTS +7.3% Y/Y; FEB +7.8%

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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Consolidation

MYR

Spot USD/MYR had a slightly softer re-open and has held steady since. The rate last operates at MYR4.3535, down 35 pips on the day, after extending its recent bull run to fresh cycle highs on Monday.

  • Downside technical focus falls on Nov 26 high of MYR4.2490. Conversely, bulls need a clearance of yesterday's high of MYR4.3575 before targeting Apr 22, 2020 high of MYR4.4032.
  • Palm oil markets came under scrutiny on Monday, following Indonesia's surprise bank on CPO shipments. The news sent palm oil futures traded in Kuala Lumpur to fresh cycle highs, before speculation that the ban would be less strict than thought earlier resulted in a sharp pullback. Indonesia confirmed that it would only stop shipments of bulk and packaged RBD oil, while allowing crude palm oil exports to continue.
  • Reminder that Malaysian Health Ministry will announce the details of further relaxation of Covid-19 standard operating procedure tomorrow, pending approval by the Cabinet.
  • Worth flagging in advance that Malaysia will see two holiday-elongated weekends next month, in the first and third weeks of May.
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