MNI China Daily Summary: Monday, June 17

MNI BRIEF: China To Retaliate Against EU Pork Products

MNI BRIEF: China Consumption Can Continue Acceleration - NBS

MNI: PBOC Conducts CNY182 Bln Via 1Y MLF Mon; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1149 Mon; -1.41% Y/Y

CHINA PBOC CONDUCTS CNY4 BILLION VIA 7-DAY REVERSE REPOS MON

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

EZ/UK T-Bill Calendar: 6-Month ESM-Bill Auction on Tuesday

Empire Survey Shows Improving Manufacturing Optimism At End-Q2

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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Covid Concerns, Brexit Dynamics Weigh On Risk

NZD

NZD/USD has gone offered and last deals -31 pips at $0.7106, trading through Friday lows. The kiwi has been pressured by a coronavirus outbreak in Sydney/tighter social restrictions in the city, which could derail the implementation of a trans-Tasman travel bubble. Elsewhere, worrying UK Covid-19 developments/Brexit deadlock have inspired broader risk aversion and demand for the greenback.

  • NZ gov't said it will broaden eligibility criteria of the Small Business Cashflow Loan Scheme (SBCLS) and extend the Business Finance Guarantee Scheme. The SBCLS allows eligible firms to get unsecured, interest-free loans of up to NZ$100,000 from the gov't.
  • Losses past Dec 16 low of $0.7054 would turn focus to the 23.6% retracement of the Sep 24 - Dec 17 rally at $0.7015/06. Conversely, a breach of the upper 2.0% Bollinger band at $0.7151 would expose Dec 17 high of $0.7171, a key near-term resistance.
  • New Zealand reports credit card spending data later today.
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