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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CNY Fixing: Back To A Firmer Bias

CNH

The USD/CNY fixing printed at 6.9861, versus a Bloomberg consensus of 6.9888.

  • Today's outcome represents a -27pip surprise in USD/CNY terms. This follows yesterday's outcome of +13pips.
  • With today's outcome we are back to a slightly firmer bias from the CNY fixing relative to expectations, although the 5-day rolling sum of the fixing error nudged up to -63pips from -67pips yesterday.
  • USD/CNH has been fairly steady in the first part of trade today, despite a firmer USD seen against the majors. We were last around 6.9850.
  • As expected, the 1yr and 5yr LPR rates were left unchanged.
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