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 Slightly Firmer Bias

CNH

The USD/CNY fix printed at 6.9746, versus a Bloomberg consensus of 6.9777.

  • Today's outcome represents a -31pip surprise in USD/CNY terms. Note yesterday's outcome was +12pips.
  • Barring yesterday's outcome, the bias for fixing outcomes has still been skewed against upside USD/CNY in recent weeks, albeit a fairly modest one.
  • USD/CNH is fairly steady in trading today, despite a softer USD against higher beta majors. The pair currently sitting just under 6.9900, little change for the session.
  • Covid related headlines have been mixed so far today. Quarantine free travel will start between China-HK in January, in a further re-opening sign. However, the authorities are also dealing with the current outbreak, vowing to boost medical supplies, while also highlighting the number of severe covid case numbers.
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