MNI EM China Daily Summary: Monday, March 25

MNI BRIEF: China Expands Austrian Pork Import Scope

MNI BRIEF: China To Boost Consumption With Lower Mortgage Rate

MNI: PBOC Injects Net CNY40 Bln Via OMO Mon; Rates Unchanged

CHINA PBOC INJECTS CNY50 BILLION VIA 7-DAY REVERSE REPOS MON

MNI: PBOC Sets Yuan Parity Lower At 7.0996 Mon; -5.53% Y/Y

NBH Data Watch

SARB Data Watch

UK Timeline of Key Events (All Times UK)

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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Baht Gains In Wake Of Local Holiday & FOMC Decision, Thai CPI Eyed Today

THB

Spot USD/THB opened sharply lower after Wednesday's public holiday, with the baht reacting to the FOMC's monetary policy decision. The rate last changes hands -0.410 at THB34.098.

  • Sales past the nearby THB34.000 figure would give bears a green light for targeting Mar 28 high of THB33.802. Bulls need a rally above May 3 high of THB34.522 before targeting May 11, 2017 high of THB34.815.
  • Looking ahead, monthly CPI data will be published later today. Headline inflation is expected to have slowed to +4.81% Y/Y in April from +5.73% prior, with economists forecasting a broadly unchanged rate of core CPI growth.
  • As a side note, bear in mind that the government removed a cap on diesel prices from May 1, which is expected to boost inflation from this month, making it more difficult for the BoT to maintain its accommodative stance.
  • PM Prayuth chairs a meeting on special economic zones today, while the national Covid-19 task force will provide an update on the local outbreak.
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