MNI China Daily Summary: Wednesday, Sept 11

MNI BRIEF: Cautious Policy Adjustments Eyed - BOJ's Nakagawa

MNI: PBOC Net Injects CNY209.3 Bln via OMO Wednesday

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CHINA PBOC CONDUCTS CNY210 BLN VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1182 WEDS VS 7.1136

US MBA: REFIS +1% SA; PURCH INDEX +2% SA THRU SEP 6 WK

MNI: US MBA: MARKET COMPOSITE +1.4% SA THRU SEP 06 WK

MNI: UK JUL TRADE BALANCE GBP -7.51BN

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

UK: Week Ahead

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EUR is on the front foot

FOREX
  • All the action is in Govies, with Futures in Germany and Europe plummeting, pushing Yields at multi year highs.
  • Early mover in FX, was the CHF, after the Swiss CPI beat.
  • CHF went bid across G10, but the currency has since pared some gains, led by the EUR.
  • EUR is mostly on the front foot against G10s, after Bund collapsed, and German Yields spiked to multi year highs.
  • The EUR leads versus the CAD and USD, up ~0.39%.
  • EURUSD resistance is seen at 1.0697 (printed 1.0695 high).
  • EURCAD has pared half of yesterday's losses, and small initial resistance moves down to 1.35471.
  • While EURCHF is back at pre Swiss CPI level.
  • Risk On tone has kept the USD in the red, after a mixed start on the European Govie open.
  • Best performers versus the USD are the SEK, GBP and the EUR.
  • Looking ahead, data include US ADP and Factory orders. US Durable goods will be final reading.
  • Speakers, sees Riksbank's Jansson speaking on rising interest rates, Riksbank's Ohlsson on Economy, Monetary Policy.
  • BoC Paul Beaudry gives press conference. ECB de Cos speaks in Paris, while Fed speakers include Logan and Mester.
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