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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INR: RBI Likely Sold Dollars to Prevent Sharp INR Decline, Traders Tell Reuters

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  • The Indian central was likely selling dollars via large state-run banks on Friday to prevent sharp declines in the rupee after it weakened past 84 for the first time, five traders told Reuters.
  • Citing a trader at a large private bank, Reuters report that state-run banks were spotted selling dollars and the offers were "especially strong" near 84.07-84.08 levels.
  • The traders added that strong dollar demand from oil companies and large foreign banks, likely related to outflows from local equities, pressured the rupee.
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  • The Indian central was likely selling dollars via large state-run banks on Friday to prevent sharp declines in the rupee after it weakened past 84 for the first time, five traders told Reuters.
  • Citing a trader at a large private bank, Reuters report that state-run banks were spotted selling dollars and the offers were "especially strong" near 84.07-84.08 levels.
  • The traders added that strong dollar demand from oil companies and large foreign banks, likely related to outflows from local equities, pressured the rupee.