MNI China Daily Summary: Monday, October 14

MNI BRIEF: China Sep M2 Rises To Four-Month High

MNI BRIEF: China Foreign Trade Grow Steady; Exports +4.3% YTD

MNI BRIEF: China Foreign Trade Facing Pressure In Q4

CHINA YTD NEW LOANS CNY16.0 TRLN VS MEDIAN CNY16.3 TRLN: PBOC

CHINA SEP EXPORTS +2.4% Y/Y VS MEDIAN +6.0% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.2% Y/Y IN YUAN TERM: CUSTOMS

MNI BRIEF: China Sep CPI Slows To 0.4% Y/Y On Base Effects

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.20B BSL

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

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FOREX: USD Index Again Presses Resistance

FOREX
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  • The greenback is among the strongest performers in G10 Monday, although the rally is shallow at these levels. That said, the strength is keeping the USD Index well within range of last week's highs of 103.178, and a break and close back above these levels will confirm a resumption of the primary uptrend drawn off the late September lows. 100-dma above at 103.241 provides the next level - a rally toward which would bring 149.55 in USD/JPY and 1.0900 in EUR/USD into play.
  • Equity futures are mixed on both sides of the pond, with a softer open triggered by the negative reception of China's policy briefing proving short-lived, as buying interest in the e-mini S&P and Eurostoxx50 tipped both indices back in positive territory.
  • Risk back-loaded, with UK inflation, US import/export price indices and Australian jobs data for September all set to follow in the second half of the week.
  • There are no key data releases set for the rest of the Monday session, with US Columbus Day holidays likely to keep markets quieter than usual - although there are no major closes across US equity or fixed income markets. There are a number of central bank speakers due which could prove more market-sensitive, including Fed's Kashkari and Waller. 
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  • The greenback is among the strongest performers in G10 Monday, although the rally is shallow at these levels. That said, the strength is keeping the USD Index well within range of last week's highs of 103.178, and a break and close back above these levels will confirm a resumption of the primary uptrend drawn off the late September lows. 100-dma above at 103.241 provides the next level - a rally toward which would bring 149.55 in USD/JPY and 1.0900 in EUR/USD into play.
  • Equity futures are mixed on both sides of the pond, with a softer open triggered by the negative reception of China's policy briefing proving short-lived, as buying interest in the e-mini S&P and Eurostoxx50 tipped both indices back in positive territory.
  • Risk back-loaded, with UK inflation, US import/export price indices and Australian jobs data for September all set to follow in the second half of the week.
  • There are no key data releases set for the rest of the Monday session, with US Columbus Day holidays likely to keep markets quieter than usual - although there are no major closes across US equity or fixed income markets. There are a number of central bank speakers due which could prove more market-sensitive, including Fed's Kashkari and Waller.