MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

MNI BRIEF: PBOC To Watch CNY Moves Closely - Vice Governor Zhu

MNI BRIEF: China Aims To Digitalise 70% Of Firms By 2025

MNI BRIEF: Q1 Cross Border Activity Up 117.8% - Ministry

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

MNI UK Inflation and Labour Market Insight: April 2024 Release

MNI: EUROZONE FEB CONSTRUCTION OUTPUT +1.8% M/M, -0.4% Y/Y

Q1 Industry Survey Suggests H1 Growth Tailwind

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$ Remains Under Pressure

AUD

AUD/USD is threatening to break below 0.7070. We currently sit just above this level, around 0.50% below NY closing levels. Weaker equity sentiment and the NZD dip weighing.

  • The A$ continues to track broader equity risk sentiment closely. US equity futures are down but are off the worst levels of the day.
  • China/HK related equities are struggling to stay positive. China stimulus related news likely helping to contain some of the fallout from the weaker US futures lead.
  • AUD is outperforming NZD slightly, but Kiwi weakness has still been a headwind. NZD/USD is down close to 0.60% against the USD, following the earlier NZ retail sales miss.
  • In the commodity space, both oil and iron ore are off recent highs. Australian government bond yields are up slightly on the day.
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