MNI China Daily Summary: Wednesday, April 17

MNI BRIEF: China To Quicken Project Construction - NDRC

MNI BRIEF:ECB Unifies Interest On Non-Monetary Policy Deposits

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

MNI: PBOC Sets Yuan Parity Lower At 7.1025 Weds; -5.39% Y/Y

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

US EIA: CRUDE OIL STOCKS EX SPR +2.74M TO 460.0M APR 12 WK

MNI: FOREIGN HOLDINGS OF CANADA SECURITIES -8.8B CAD IN FEB

ECB Underlying Inflation Metrics Support June Cut Consensus

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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JPY: RSI Flirting With 70 After Bearish Outside Day

CNH

Sharp CNH/JPY sales on Wednesday allowed the pair to chart outside reversal pattern. Weaker than expected PBOC fix knocked the yuan on its head, while the yen regained poise snapping its historic losing streak against the greenback.

  • The sell-off has stalled on Thursday, with the rate eventually reversing its initial gains. While yen sales resumed in Tokyo hours, the yuan has joined it among the worst performing currencies in the region today.
  • The rate's RSI is approaching 70 from overbought territory, consolidation below that threshold would be a bearish signal.
  • CNH/JPY trades at Y19.85 at typing, with bears looking for a retreat under Apr 14 low of Y19.61. Conversely, a bounce above Wednesday's high of Y20.17 would open up 2015 high of Y20.26.
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EM BulletFixed Income BulletsHomepageBank of Japan (BOJ) Market NewsBulletMarketsEmerging Market NewsForeign Exchange Bullets

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