MNI China Daily Summary: Wednesday, April 17

MNI BRIEF: China To Quicken Project Construction - NDRC

MNI BRIEF:ECB Unifies Interest On Non-Monetary Policy Deposits

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

VIEW CHANGE: BNP looks for first cut in August rather than June

March Final HICP Data Suggests “Easter Effects” Limited To Airfares

MNI: US MBA: MARKET COMPOSITE +3.3% SA THRU APR 12 WK

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

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

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1 Month Sub 1400, Strongest Daily Gain Since March

KRW

USD/KRW has continued to trend lower this afternoon. The 1 month NDF was last around 1397.50 which is 1.35% below NY closing levels (in USD/KRW terms). If we can maintain these levels for the rest of the session, it will be the won's strongest daily gain (1 month NDF) since March of this year.

  • Onshore equities have continued to edge higher this afternoon (Kospi +1.50%), while offshore investors have added +$177mn to local stocks.
  • Today's gain also comes amid a renewed focus from the authorities on curbing depreciation pressures.
  • Tomorrow, August goods balance and current account figures are due.
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