MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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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Government To Announce 2025 Budget Guidelines Today

BRAZIL
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  • Despite the rise in geopolitical tensions over the weekend, markets are trading solidly so far on Monday and haven currencies have found no support. The bullish theme in USDBRL, however, remains intact and having cleared the 5.10 handle on Friday, this signals scope for a climb towards 5.2202, the Oct 6 ‘23 high. On the downside, initial firm support lies at 5.0258, the 20-day EMA.
  • The government’s economic team will present the Budget Guideline Bill (PLDO) 2025 at 2030BST(1530ET). This will be followed by a press conference with Treasury Secretary Rogerio Ceron and secretaries from the Planning Ministry and Tax Agency at 2100BST. On the data front, weekly trade balance figures will be published at 1900BST. Later this week, focus will be on February economic activity data, due for release on Wednesday.
  • In other news, the government is reported to be close to reaching a deal with Eletrobras to increase its influence on the utility. Under the agreement, the utility’s board would increase from nine to 11 members, with the government getting three seats. Negotiations are still ongoing and have until July to be concluded.
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  • Despite the rise in geopolitical tensions over the weekend, markets are trading solidly so far on Monday and haven currencies have found no support. The bullish theme in USDBRL, however, remains intact and having cleared the 5.10 handle on Friday, this signals scope for a climb towards 5.2202, the Oct 6 ‘23 high. On the downside, initial firm support lies at 5.0258, the 20-day EMA.
  • The government’s economic team will present the Budget Guideline Bill (PLDO) 2025 at 2030BST(1530ET). This will be followed by a press conference with Treasury Secretary Rogerio Ceron and secretaries from the Planning Ministry and Tax Agency at 2100BST. On the data front, weekly trade balance figures will be published at 1900BST. Later this week, focus will be on February economic activity data, due for release on Wednesday.
  • In other news, the government is reported to be close to reaching a deal with Eletrobras to increase its influence on the utility. Under the agreement, the utility’s board would increase from nine to 11 members, with the government getting three seats. Negotiations are still ongoing and have until July to be concluded.