MNI: POWELL SAYS PCE INFLATION CAME IN LINE WITH EXPECTATIONS

MNI China Daily Summary: Friday, March 29

MNI: PBOC Injects Net CNY148 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0950 Fri; -4.70% Y/Y

CHINA PBOC INJECTS CNY150 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.0950 FRI VS 7.0948

MNI: US FEB PERSONAL INCOME +0.3%; NOM PCE +0.8%

HICP Tracking at 2.4%Y/Y - One tenth below consensus

HICP 2 tenths softer than expected, but partly on clothing prices

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MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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FX CEEMEA Snapshot Following US Jobs Beat

EMERGING MARKETS
  • NFP came in higher than expected at 943K in July (vs. 870K exp.) and up from revised 938K the previous month, resulting in a higher USD (broad index).
  • USDTRY extends its recent gains, breaking above its 50DMA at 8.60 today, next resistance to watch on the topside stands at 8.80, which represents the pair's all time high.
  • USDRUB also continues to retrace higher and is currently testing its 1W high, trading slightly below 73.40; next resistance to watch on the topside stands at 73.80.
  • USDZAR has been oscillating around 14.50 since following yesterday's news (FinMin resigned); next level to watch on the topside stands at 14.65, which represents the pair's 1W high.
  • USDHUF bounced higher by 1 figure following the NFP release to reach a daily high of 299.66 before starting to consolidate lower; key resistance to watch on the topside stands at 300.
  • USDPLN ticks higher following the release and is currently testing its 3.87 resistance; a break above that level would open the door for a move up to 3.90 (July 28 high).
  • USDCZK has also been trending higher, approaching its 200DMA resistance at 21.59; next level to watch on the topside stands at 21.70.
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