MNI China Daily Summary: Wednesday, October 16

MNI: ITALY FINAL HICP +1.2% M/M, +0.7%Y/Y

MNI BRIEF: BOJ's Adachi Sees Conditions For Normalisation

MNI: PBOC Net Injects CNY581.4 Bln via OMO Wednesday

CHINA PBOC CONDUCTS CNY642.4 BLN VIA 7-DAY REVERSE REPOS WEDS

MNI: PBOC Sets Yuan Parity Higher At 7.1191 Weds; +2.66% Y/Y

US MBA: REFIS -26% SA; PURCH INDEX -7% SA THRU OCT 11 WK

MNI: US MBA: MARKET COMPOSITE -17.0% SA THRU OCT 11 WK

MNI: UK SEP OUTPUT PPI -0.5% M/M, -0.7% Y/Y

CANADA: Politics Week: Trudeau Faces More Pressure To Resign

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

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Broader selling emerging into the EU session

USD
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  • The Dollar was more mixed overnight, but is seeing broader selling interest as Europe comes in, testing session low against the PLN, SEK, CZK, ZAR, SGD, AUD, NOK and CAD.
  • AUD has taken over the NOK as the best performer in G10, now up 0.35%, but resistance will be seen further out, up to 0.6583 High Jul 25.
  • Lower US Yields as US Data disappoint, combined with the BoJ hike has boosted the Yen, with the Currency up 3.10% in just the past 5 days, but some 20 pips off its best levels going into the European session.
  • The Swiss CPI was mostly in line with Consensus and as such had very little impact on the Swissy.
  • Yields and Equities, will again be watched for FX.
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  • The Dollar was more mixed overnight, but is seeing broader selling interest as Europe comes in, testing session low against the PLN, SEK, CZK, ZAR, SGD, AUD, NOK and CAD.
  • AUD has taken over the NOK as the best performer in G10, now up 0.35%, but resistance will be seen further out, up to 0.6583 High Jul 25.
  • Lower US Yields as US Data disappoint, combined with the BoJ hike has boosted the Yen, with the Currency up 3.10% in just the past 5 days, but some 20 pips off its best levels going into the European session.
  • The Swiss CPI was mostly in line with Consensus and as such had very little impact on the Swissy.
  • Yields and Equities, will again be watched for FX.