MNI China Daily Summary: Wednesday, October 23

MNI BRIEF: China Steel Exports To Remain High In October

MNI: PBOC Net Injects CNY150.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1245 Weds; +2.72% Y/Y

CHINA PBOC CONDUCTS CNY792.7 BLN VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1245 WEDS VS 7.1223

US MBA: REFIS -8% SA; PURCH INDEX -5% SA THRU OCT 18 WK

MNI: US MBA: MARKET COMPOSITE -6.7% SA THRU OCT 18 WK

EZ/UK Bond Supply Calendar: UK, Germany Auction on Wednesday

CANADA: Politics Week: Trudeau Facing More Internal Dissent And Departures

CANADA: Politics Week: Trudeau Faces More Pressure To Resign

CANADA: Politics Week: Parliament Opens With Early Election Threats

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

BoC’s Macklem and Rogers To Appear Late On

CANADA
  • Upcoming FOMC commentary will clearly set the tone for Canadian assets but we still hear from BoC’s Macklem and Rogers later on in front of the Senate with text released at 1615ET.
  • Since the BoC’s rate decision on Apr 10, core CPI metrics again came in softer than expected before downward surprises for retail sales and monthly GDP.
  • Macklem noted in his discussion with Powell shortly after that release on Apr 16 that "Importantly, measures of core inflation did tick down again and that does suggest underlying inflationary pressures are continuing to ease. We continue to be moving in the right direction."
  • Today’s remarks could help flesh this stance out but there will still be the April reports for labour (May 10) and CPI (May 21) to come before the Jun 5 decision. BoC-dated OIS has circa 13bp of cuts for June with a first cut fully priced for July vs the US where a first cut is seen in Dec.
Homepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign 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.