MNI: POWELL SAYS PCE INFLATION CAME IN LINE WITH EXPECTATIONS

MNI China Daily Summary: Friday, March 29

MNI: PBOC Injects Net CNY148 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0950 Fri; -4.70% Y/Y

CHINA PBOC INJECTS CNY150 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.0950 FRI VS 7.0948

MNI: US FEB PERSONAL INCOME +0.3%; NOM PCE +0.8%

HICP Tracking at 2.4%Y/Y - One tenth below consensus

HICP 2 tenths softer than expected, but partly on clothing prices

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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Greenback Finds Poise, Japanese Holiday Limits Activity

FOREX

The greenback found poise after Wednesday's slump caused by below-forecast U.S. CPI data, as Fed officials warned against excessive optimism on that front and signalled their intention to continue raising interest rates into next year. The BBDXY index edged higher but then halved gains as the session progressed. The U.S. dollar occupies the top spot in G10 currency scoreboard, although it outperforms by very narrow ranges.

  • USD/JPY added ~20 pips, flirting with the Y133.00 mark through the session. Liquidity was thinned out due to a public holiday in Japan. Risk reversals crept higher, albeit 1-year skews struggled to return above par.
  • The Aussie dollar was the worst G10 performer even as U.S. e-mini futures advanced, signalling continuation of positive sentiment. From a cross-asset perspective, iron ore traded on a firmer footing but gold softened.
  • Today's data highlights include weekly jobless claims & monthly PPI out of the U.S.
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