MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

MNI BRIEF: PBOC To Watch CNY Moves Closely - Vice Governor Zhu

MNI BRIEF: China Aims To Digitalise 70% Of Firms By 2025

MNI BRIEF: Q1 Cross Border Activity Up 117.8% - Ministry

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

MNI UK Inflation and Labour Market Insight: April 2024 Release

MNI: EUROZONE FEB CONSTRUCTION OUTPUT +1.8% M/M, -0.4% Y/Y

Q1 Industry Survey Suggests H1 Growth Tailwind

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 Stronger Within a Range

FOREX
  • Treasury yields have drifted lower across European hours Tuesday, while US equity futures have improved - albeit only slightly. The greenback is generally firmer putting both EUR/USD and GBP/USD at the session's worst levels at the NY crossover. Nonetheless, both pairs have respected the recent range, with the Monday lows still out of reach on both counts.
  • Oil prices are extending the recovery off the Monday lows, with the imminent restrictions on Nord Stream 1 pipeline gas flows (due to limit capacity to 20% tomorrow) supporting energy prices across the board. This has lent support to the NOK, putting NOK/SEK at the best levels since Jul12 and through the 200-dma. Next resistance crosses at the 100-dma of 1.0492 and July's highs at 1.0539.
  • JPY is on the front foot, putting EUR/JPY just below the 50-dma crossing at 139.78. 138.72 marks the first support for the cross, but the trend direction remains higher for now.
  • Data picks up Tuesday, but are largely tier 2 releases, with S&P house price data, June new home sales, Richmond Fed manufacturing index and the July consumer confidence print. ECB's de Cos is scheduled to speak on inflation at 1800BST/1300ET.
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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