MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

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

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

Labour Market Continues Firming Despite Headline Unemployment Uptick

EZ/UK Bond Supply Calendar: Italy, EU Auctions, BoE APF Monday

MNI: ECB 1-YEAR CONSUMER INFLATION EXPECTATIONS 3%

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

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

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

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CNH & Weaker Equities Weigh

KRW

USD/KRW is creeping higher, with spot last at 1393.50/00. Fresh cyclical highs in USD/CNH (last 7.0450/55) has not helped. While onshore equities continue the recent trend of downside momentum (-0.90% for the Kospi).

  • Spot USD/KRW hasn't been much beyond 1394 this week, while in the 1 month NDF space we haven't been above 1395. A break above these levels could open up the 1400 level, but is also likely to invite fresh rhetoric from the authorities.
  • BoK has also stated that it is in talks with the Fed on a currency swap. Earlier the central bank stated media reports on a swap deal with the Fed (potentially being signed this week) were different from the facts.
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