MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

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

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

MNI: PBOC Sets Yuan Parity Lower At 7.1043 Mon; -4.74% Y/Y

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

NBH Data Watch

INDON Sov Curve Flatter, Trade Surplus Soars, BI Decision Wednesday

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 Edging Lower as CPI Rally Unwinds

FOREX
  • Having staged a fierce rally mid-week, the greenback is G10's poorest performing currency ahead of NY hours, as markets unwind and take profit on the volatile post-CPI moves. The USD Index is still comfortably ahead of the week's multi-month lows printed at 89.987, with focus shifting to today's retail sales release.
  • The USD's losses are working in favour of EUR/USD, which has crept well off yesterday's 1.2052 low to narrow the gap with Wednesday's high, and next resistance, at 1.2152.
  • NOK and NZD are among the session's best performers after both currencies traded heavy on commodity weakness across the Wednesday/Thursday sessions. USD/NOK is edging off resistance that held yesterday at the 8.4160 50-dma.
  • Today's retail sales numbers are expected to show a 1.0% gain, a marked slowdown from March's revised 9.7%. The prelim University of Michigan data also crosses, with forward-looking expectations seen rising to a new post-pandemic high.
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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