MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI BRIEF: Brazil CenBank Faces Greater Uncertainty - Campos

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

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

EZ/UK T-Bill Calendar: 3/6-Month ATB Auction on Tuesday

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

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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Currencies Tread Water Pre-CPI

FOREX
  • Markets are generally treading water ahead of the key US data releases later today, with JPY marginally the poorest performer in G10 ahead of the NY crossover. The USD/JPY outlook remains bullish, but prices hold below the cycle highs printed earlier in the week at 137.75.
  • The greenback is moderately weaker as equity markets look more stable after Tuesday's late sell-off. Futures markets across the US are indicating a positive open on Wall Street later today, helping currency markets adopt a modest risk-on tone.
  • AUD is extending the recovery posted off the week's low yesterday, putting the pair closer to 0.68. Nonetheless, AUDUSD maintains a bearish tone and 0.6685, the Mar 9 2020 high, remains the key support. On the upside, initial firm resistance is seen at 0.6881, the 20-day EMA.
  • US inflation data takes focus going forward, with markets expecting CPI to rise 8.8% on the year and 1.1% on the month. Core price rises are expected to decelerate, dropping to 5.7% from 6.0% in May. MNI's full CPI preview found here: https://marketnews.com/homepage/mni-us-cpi-preview...
  • Elsewhere, the Bank of Canada announce rates later today, with markets expecting the Bank to raise rates by 75bps to 2.25%. MNI's full preview here: https://marketnews.com/mni-boc-preview-jul-22-eyei...

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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