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: US APR PHILADELPHIA FED MFG INDEX 15.5

MNI: US JOBLESS CLAIMS +0K TO 212K IN APR 13 WK

MNI UK Inflation and Labour Market Insight: April 2024 Release

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

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

A$ Pushing Higher, AUD/JPY To Fresh Week To Date Highs

AUD

AUD/USD is trying to break above Tuesday's highs at 0.6967. Higher NZD levels are helping drag AUD higher, with the AUD/NZD cross relatively steady around 1.1060 at the moment. The A$ is seeing outperformance against other G10 FX currencies. AUD/JPY is at fresh week to date highs above 93.35.

  • The AU-US 2yr spread is up around 4bps on the day to -42bps, albeit remaining within recent ranges.
  • Regional equities are mostly firmer, although China is an exception, giving up earlier gains. The property sub-index is down for a 7th straight session.
  • This is filtering through to iron ore prices, down to $108/tonne, lows back to 26th of July.
  • This is taking some of the shine off the bumper trade surplus report from earlier. The surplus hit a fresh record high of A$17.7bn in June thanks in large part to higher commodity export revenues.
  • For tomorrow, the main domestic focus will be on the RBA Statement of Monetary Policy.
Metals bulletHomepagemarkets-real-timeCommoditiesBulletMarketsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.