MNI China Daily Summary: Thursday, July 11

MNI BOK WATCH: More Evidence Needed To Cut Rates, Says Rhee

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

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Lower At 7.1339 Thurs; -1.06% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1339 THURS VS 7.1342

June CPI Preview – Services Expected To Reverse May Acceleration

EZ/UK Bond Supply Calendar: EU-Bond Auction, BoE APF on Monday

CPI Details Show Disinflation Tapering Off for High-Rate Items (2/2)

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

AUD Sits Firmer as Retail Sales Tops Estimates

FOREX
  • Regional German CPI numbers are all posting a step lower from the previous for the month of October, supporting expectations for a slowdown in the national print later today. Backing up the disinflationary pressure was the Spanish inflation print, which came in below expectations as the core print missed consensus by 0.4ppts.
  • Nonetheless, EUR/USD sits higher to tip the USD Index into negative territory, however support at the Friday low holds at the beginning of the week. CHF and SEK are the poorest performers, with GBP and JPY more mixed.
  • AUD, NZD are among the session's best performers, market moves follow Australia's September retail sales, which topped expectations at 0.9% vs. Exp. 0.3%. Resultingly, AUD/USD trades back above 0.6350 and is narrowing in on the 50-dma resistance of 0.6395. Clearance here could be one of the first signs of a bullish reversal off the 0.6270 bottom, however the medium-term downtrend remains intact.
  • Focus for the session ahead turns to the national print of German CPI, at which markets expect Y/Y inflation to slow to 4.0% from 4.5%. Dallas Fed Manufacturing also crosses, although US focus rests on the Fed decision later this week and the Quarterly Refunding Announcement from the US Treasury. Central bank speakers include ECB's de Guindos, BoC's Macklem & Rogers as well as RBA's Jones.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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.