MNI China Daily Summary: Friday, April 12

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: PBOC Injects Net CNY2 Bln Via OMO Fri; Rates Unchanged

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

CHINA END-MAR M2 +8.3% Y/Y VS MEDIAN +8.8%; END-FEB +8.7% Y/Y

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

Final March Inflation Reading Confirms Softening Core Dynamics

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

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

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CPI Headfake Sees Greenback Slip to April Lows

FOREX
  • The USD initially found some support after a higher-than-expected CPI print for March, but price action swiftly reversed and the USD slipped against most others in G10 ahead of the close.
  • Much attention was paid to the decision that the US would pause the rollout of the J&J vaccine on blood-clotting concerns, prompting some equity selling and JPY strength in early US hours. JPY remained strong into the US close, narrowing the gap with the April lows at Y109.00.
  • GBP found another headwind following news that Bank of England Chief Economist and MPC member Haldane is due to step down from his role after the June MPC meeting.
  • Haldane had been one of the more hawkish members of the BoE rate-setting committee, raising the risk that the Bank could adopt a more active approach later this year. EUR/GBP broke to new April highs in response, with the 50-dma undercutting as firm support going forward.
  • Focus Wednesday turns to US import/export price indices and Australia's Westpac consumer confidence data. Central bank speak picks up further, with ECB's de Guindos, Panetta and Lagarde due to speak as well as Fed's Powell & Clarida and BoE's Haskel.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.