MNI China Daily Summary: Wednesday, October 16

MNI: ITALY FINAL HICP +1.2% M/M, +0.7%Y/Y

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CHINA PBOC CONDUCTS CNY642.4 BLN VIA 7-DAY REVERSE REPOS WEDS

MNI: PBOC Sets Yuan Parity Higher At 7.1191 Weds; +2.66% Y/Y

US MBA: REFIS -26% SA; PURCH INDEX -7% SA THRU OCT 11 WK

MNI: US MBA: MARKET COMPOSITE -17.0% SA THRU OCT 11 WK

MNI: UK SEP OUTPUT PPI -0.5% M/M, -0.7% Y/Y

CANADA: Politics Week: Trudeau Faces More Pressure To Resign

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

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EUROPEAN INFLATION: Risk Of Downward EZ Revision After Italian Final Sep Data

EUROPEAN INFLATION
CEEMEABulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

Italian September final headline HICP was revised a tenth lower on an annual basis to 0.7% Y/Y. Taken alongside the downward revision to the French data yesterday, there may be larger-than-usual risks of a revision to the Eurozone-wide flash print tomorrow (which was 1.77% Y/Y on an unrounded basis).

  • A two tenths downward adjustment to food, alcohol and tobacco inflation (to 1.4% Y/Y) drove the headline revision in Italy.
  • Italian core inflation (ex-energy, food, alcohol and tobacco) was confirmed at 1.8% Y/Y (vs 2.3% prior), with services at 3.1% Y/Y (unch vs flash, vs 3.4% prior) and core goods at -0.1% Y/Y (vs -0.2% flash and 0.3% prior). 
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Italian September final headline HICP was revised a tenth lower on an annual basis to 0.7% Y/Y. Taken alongside the downward revision to the French data yesterday, there may be larger-than-usual risks of a revision to the Eurozone-wide flash print tomorrow (which was 1.77% Y/Y on an unrounded basis).

  • A two tenths downward adjustment to food, alcohol and tobacco inflation (to 1.4% Y/Y) drove the headline revision in Italy.
  • Italian core inflation (ex-energy, food, alcohol and tobacco) was confirmed at 1.8% Y/Y (vs 2.3% prior), with services at 3.1% Y/Y (unch vs flash, vs 3.4% prior) and core goods at -0.1% Y/Y (vs -0.2% flash and 0.3% prior).