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: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

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

MNI: PBOC Sets Yuan Parity Lower At 7.1043 Mon; -4.74% Y/Y

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

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

NBH Data Watch

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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AUD/USD Back Above 0.7000

AUD

AUD/USD has continued to push higher, up 0.50% and breaching the 0.7000 handle. Firmer risk appetite appears to be the main driver, with the RBA minutes not shifting local rates/bonds a great deal.

  • The A$ is the top performer within the G10 FX space so far today, with NZD the next best performer at +0.30%. JPY is underperforming, as risk appetite improves. AUD/JPY is back to 90.60.
  • US equity futures are higher to the tune of 0.3-0.7%, while Asian equities are also generally on the front foot. Hong Kong tech stocks leading the way at +3% at this stage.
  • Yield spreads with the USD basically unchanged. Iron ore is holding steady around $130/tonne.
  • Focus now if we can test above 0.7050 on improved risk appetite and weaker USD sentiment.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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