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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Greenback Back Above 50-DMA Support

FOREX
  • The greenback is clawing back recent losses in Tuesday trade, with the USD Index back above the 50-dma - which remains a key support with the level not convincingly broken so far this cycle. As a result, the USD is the firmest in G10, while NZD, SEK and the EUR are among the weakest.
  • Eurozone May CPI estimate was the data highlight - mimicking the Spanish, German and Italian inflation readings in coming in ahead of expectations: 8.1% vs. Exp. 7.8%. The release resulted in pressure on core Eurozone bond markets, with Bund futures and Italian BTPs both dropping lower upon release. EUR, however, has failed to follow suit, with the single currency drifting against most others in G10. EUR/USD has erased the Monday upside, with EUR/GBP narrowing the gap with support at 0.8500 and Friday's 0.8481.
  • MNI Chicago PMI is the data highlight going forward, with markets expecting the figure to moderate to 55.1 fom 56.4 previously. May consumer confidence follows, with Canadian GDP also due.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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