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

NBH Data Watch

INDON Sov Curve Flatter, Trade Surplus Soars, BI Decision Wednesday

MNI: BAKER HUGHES US RIG COUNT 619; OIL RIGS 511; GAS RIGS 106

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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Antipodeans Gain, Markets In Waiting Mode

FOREX

Most major USD crosses tread water in Asia-Pac hours, as participants were preparing for the upcoming monetary policy decision from the FOMC & China's monthly economic activity data. The DXY was happy to hold its yesterday's range.

  • The Antipodeans were slightly firmer, despite light regional news flow. A BBG trader source flagged demand for the Aussie from local exporters.
  • The PBOC set its central USD/CNY mid-point at CNY6.4078, 7 pips above the sell-side estimate. Spot USD/CNH held a very tight range, close to neutral levels.
  • Apart from the aforementioned FOMC decision & Chinese data, focus turns to inflation figures from the UK & Canada, U.S. housing starts/building permits, as well as ECB & BoC speak.
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