MNI China Daily Summary: Wednesday, April 17

MNI BRIEF: China To Quicken Project Construction - NDRC

MNI BRIEF:ECB Unifies Interest On Non-Monetary Policy Deposits

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

MNI: PBOC Sets Yuan Parity Lower At 7.1025 Weds; -5.39% Y/Y

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

US EIA: CRUDE OIL STOCKS EX SPR +2.74M TO 460.0M APR 12 WK

MNI: FOREIGN HOLDINGS OF CANADA SECURITIES -8.8B CAD IN FEB

ECB Underlying Inflation Metrics Support June Cut Consensus

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 Consolidating, NZD Underperforms

FOREX
  • The greenback is consolidating, extending its pullback off the Tuesday highs and helping relieve some pressure off the major pairs - most notably EUR/USD and GBP/USD. News and macro catalysts have been few and far between overnight, with equities rolling off recent highs on the continent. US futures, however, remain solid, with the e-mini S&P pointing to another positive open on Wall Street today.
  • NOK is continuing to benefit from the general risk-on tone as well as the recent run-up in oil prices. This puts USD/NOK back below the 9.00 handle to retrace a small part of the November run higher. Support at 8.9811 has been cleared, opening 8.8473 as the next downside level.
  • NZD is the poorest performer so far in G10, helping buoy AUD/NZD to new December highs and narrow the gap with both the 200-dma at 1.0603 and the October highs of 1.0612 - both of which could provide stiff resistance.
  • The Bank of Canada rate decision takes focus going forward, with the board seen keeping rates policy unchanged, but signalling strongly that rate hikes are highly likely in the near future.
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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