MNI China Daily Summary: Friday, April 12

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: PBOC Injects Net CNY2 Bln Via OMO Fri; Rates Unchanged

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

CHINA END-MAR M2 +8.3% Y/Y VS MEDIAN +8.8%; END-FEB +8.7% Y/Y

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

Final March Inflation Reading Confirms Softening Core Dynamics

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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Kiwi Extends Bullish Run To Three Consecutive Sessions

NZD

NZD/USD pushed higher on Tuesday, meeting resistance at $0.6376. The upswing was driven by positive news from China, as Shanghai recorded its third day without community transmission of COVID-19 & hope for reduced regulatory burden for the local tech sector was evident.

  • The rate last deals at $0.6361, barely changed on the day. Bulls need a clearance of May 11 high of $0.6380 before setting their sights on May 5 high of $0.6568. Conversely, the initial bearish target is provided by the 61.8% retracement of the 2020 - 2021 rally ($0.6232).
  • Dairy prices fell for the fifth consecutive time at yesterday's GDT auction, with whole milk powder down 4.9%.
  • Quarterly PPI (Thursday) as well as trade balance & credit card spending (Friday) will take focus during the remainder of this week.
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