MNI China Daily Summary: Monday, October 14

MNI BRIEF: China Sep M2 Rises To Four-Month High

MNI BRIEF: China Foreign Trade Grow Steady; Exports +4.3% YTD

MNI BRIEF: China Foreign Trade Facing Pressure In Q4

CHINA YTD NEW LOANS CNY16.0 TRLN VS MEDIAN CNY16.3 TRLN: PBOC

CHINA SEP EXPORTS +2.4% Y/Y VS MEDIAN +6.0% Y/Y: CUSTOMS

EZ/UK Bond Supply Calendar: Luxembourg Synd; UK, FI Due Tuesday

MNI: CHINA YTD EXPORTS +6.2% Y/Y IN YUAN TERM: CUSTOMS

MNI BRIEF: China Sep CPI Slows To 0.4% Y/Y On Base Effects

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

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CHILE: USDCLP Consolidating Gains on Broad Greenback Optimism & Lower Copper

CHILE
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  • Broad greenback strength and lower copper prices on Monday have weighed on the Chilean peso, and USDCLP stands half a percent higher compared to Friday’s close. Aside from the central bank decision, there are no scheduled economic data releases which should keep the peso at the mercy of broader global themes.
  • Most analysts have settled in the belief that the most recent slowdown in economic activity and the moderation in inflation support the continuation of the easing cycle, with the majority of forecasters predicting a 25bps cut to 5.25% on Thursday. A full preview with analyst views will be published tomorrow.
  • FX Tech Update: USDCLP is trading closer to its recent highs. The recovery that started Sep 27, has resulted in a break of both the 20- and 50-day EMAs. This undermines a recent bearish theme and signals scope for an extension higher, towards 951.80, the Sep 10 high. A reversal lower and a clear breach of the 20-day EMA, at 922.50, would signal the end of the latest bull phase and refocus attention on support at 891.28, the Sep 27 low.
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  • Broad greenback strength and lower copper prices on Monday have weighed on the Chilean peso, and USDCLP stands half a percent higher compared to Friday’s close. Aside from the central bank decision, there are no scheduled economic data releases which should keep the peso at the mercy of broader global themes.
  • Most analysts have settled in the belief that the most recent slowdown in economic activity and the moderation in inflation support the continuation of the easing cycle, with the majority of forecasters predicting a 25bps cut to 5.25% on Thursday. A full preview with analyst views will be published tomorrow.
  • FX Tech Update: USDCLP is trading closer to its recent highs. The recovery that started Sep 27, has resulted in a break of both the 20- and 50-day EMAs. This undermines a recent bearish theme and signals scope for an extension higher, towards 951.80, the Sep 10 high. A reversal lower and a clear breach of the 20-day EMA, at 922.50, would signal the end of the latest bull phase and refocus attention on support at 891.28, the Sep 27 low.