MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI BRIEF: Brazil CenBank Faces Greater Uncertainty - Campos

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

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

EZ/UK T-Bill Calendar: 3/6-Month ATB Auction on Tuesday

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

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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A$ Continues To Struggle After Disappointing Employment Data

AUD

AUD: A$ Continues To Struggle After Disappointing Employment Data

After trending lower during the NY session, AUDUSD has taken another step down in response to the disappointing December Australian labour market report. It has broken through the January 13 low and is currently trading around 0.6900, down 0.6%. The next level to watch is 0.6860, the January 9 low.

  • Employment in December disappointed. See Jobs Growth Disappoints But Remains Tight, Coming Months Key.
  • A chunky 0.6900 option expiry tomorrow could also be influencing spot.
  • Aussie is also down against the majors with AUDJPY down 0.9% to 88.73, AUDNZD -0.3% to 1.0745, AUDGBP -0.4% to 0.5600 and AUDEUR -0.5% to 0.6398.
  • The ASX bounced (+0.5%) on the disappointing jobs data as rate hike expectations eased. The rest of the region is mixed with the Nikkei down 1.1%, CSI 300 -0.2% but the Kospi +0.2%. WTI oil has continued lower after hawkish Fed comments down -1.3% to $78.45/bbl. While copper is lower, iron ore is stronger at around $124/t.
  • Later US building permits and housing starts plus jobless claims and the Philly manufacturing survey are published. ECB’s Lagarde is scheduled to speak.
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