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

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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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Dollar Giving Back Small Part of Week's Rally

FOREX
  • The dollar is giving back a small part of the Tuesday rally ahead of Wednesday's NY open, with EUR/USD recovering to test the 1.1350 level. Similarly, GBP/USD is back comfortably above 1.36 as price action mimics that seen in stock markets. The e-mini S&P has stabilised, having bottomed out at the 4535.50 low in Asia hours, to sit in minor positive territory at the crossover.
  • Outperformers so far Wednesday are commodity- and growth-tied currencies, with NOK bouncing ahead of tomorrow's Norges Bank decision (no change to rates expected) and CAD on the front foot ahead of today's CPI read. USD/CAD sits below the 200-dma, with bears eyeing the 2022 low of 1.2454 for direction.
  • The Fed remain in their media blackout period, keeping the speaker schedule relatively light and keeping focus on US housing starts/building permits data as well as Canadian CPI. Bailey and Cunliffe of the Bank of England testify on financial stability, while ECB's Holzmann also makes an appearance.
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

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