MNI China Daily Summary: Friday, October 11

MNI: GERMANY SEP FINAL HICP -0.1% M/M; +1.8% Y/Y

MNI: PBOC Net Drains CNY183.8 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.0731 Fri; +3.03% Y/Y

CHINA PBOC CONDUCTS CNY94.2 BLN VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.0731 FRI VS 7.0742

MNI: GERMAN SEP CPI +1.6 % Y/Y

MNI: UK AUG TRADE BALANCE GBP -0.95BN

MNI: UK AUG CONSTRUCTION OUTPUT +0.4% MM, +1% 3M3M, +0.3% YY

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

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ILS: Shekel Looks For Fresh Direction

ILS
EM BulletBulletGlobalEmerging Market NewsMiddle EastRegion

Spot USD/ILS has been oscillating between gains and losses in the wake of yesterday's in-line BoI rate decision and amid continued focus on geopolitics. The rate trades at 3.7702, 32 pips higher on the day, and bulls still target Aug 6 high of 3.8533. On the flip side, bears look for losses towards and beyond Sep 26 low of 3.6792.

  • The Bank of Israel left the base rate unchanged at 4.50% yesterday, in line with expectations. The discussion focused on the impact of war on Israel's economy, with the central bank cutting its growth forecasts on the assumption that high-intensity military activity will continue at the beginning of 2025.
  • The Washington Post reported that the US is in talks with Qatar, Egypt and Saudi Arabia to use Hezbollah's precarious position to break the deadlock in the process of electing Lebanon's new president. The implementation of the plan could have significant ramification for the ongoing geopolitical crisis.
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Spot USD/ILS has been oscillating between gains and losses in the wake of yesterday's in-line BoI rate decision and amid continued focus on geopolitics. The rate trades at 3.7702, 32 pips higher on the day, and bulls still target Aug 6 high of 3.8533. On the flip side, bears look for losses towards and beyond Sep 26 low of 3.6792.

  • The Bank of Israel left the base rate unchanged at 4.50% yesterday, in line with expectations. The discussion focused on the impact of war on Israel's economy, with the central bank cutting its growth forecasts on the assumption that high-intensity military activity will continue at the beginning of 2025.
  • The Washington Post reported that the US is in talks with Qatar, Egypt and Saudi Arabia to use Hezbollah's precarious position to break the deadlock in the process of electing Lebanon's new president. The implementation of the plan could have significant ramification for the ongoing geopolitical crisis.