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

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

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

NBH Data Watch

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 Extends Reversal & Strengthening After Presser Ends

FOREX
  • The initial weakness in the US Dollar following the FOMC statement has abated with most G10 pairs trading back to pre-announcement levels and the USD reversal/strength extending in recent trade amid Chair Powell confirming it is 'very premature' to think about pausing rate hikes amid other hints that it is not clear they will slow the pace in December.
  • EURUSD sharply lower back through 0.9880 and then through the lows of the day after previously reaching a high of 0.9976.
  • As noted earlier, further weakness is now testing the validity of last week's reversal higher and whether the channel top that previously marked firm resistance will now act as support.
    • The channel top now intersects at 0.9821, closely matching the current low of 0.9823.
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