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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FOREX SUMMARY

FOREX

A mix early start for FX today, with USD taking its cue from Equity price movements.

  • USD remains in negative territory against all majors, ahead of the two Georgia Senate run-off.
  • GBP trades within ranges, despite the UK new lockdown measures, more of a USD function.
  • Cable is flat on the day at 1.3570.
  • EURUSD tested session high at 1.2284, but still short of the big 1.2310 High Dec 30 and the bull trigger.
  • We have a small triple top here, with the pair also printing 1.2309 on the 31st Dec and yesterday.
  • Yuan has given back some of its overnight gains, which were driven by the NYSE scrapping plans to delist China's 3 biggest state owned communication firms.
  • Overnight desk, noted USD local demand for the initial reversal.
  • AUD is the best performer in G10 against the Greenback, up 0.69% at the time of typing.
  • Looking ahead, US ISM Manufacturing is the data of note, and Fed Williams, Evans are the scheduled speakers.
  • Short term focus (this week), is on the US election run-offs results.
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