MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

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

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

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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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Koruna Softens, Q4 GDP Growth Prints Below Expected Level

CZK

EUR/CZK has crept higher today and last operates +0.079 at CZK23.501. From a technical point of view, topside focus remains on the 50-DMA, which intersects at CZK23.846. On the flip side, bears look for renewed losses past Mar 1 multi-year low of CZK23.343.

  • CZGBs have strengthened across the board, outpacing gains in their CE3 peers. The PX index has added ~0.8% so far as bulls are looking to test Mar 1 cycle high of 1,428.
  • Bloomberg ran comments from the chief strategist of Czechia's largest asset manager, who said he does not expect any rate cuts this year and at most 100bp worth of easing over the next 12 months.
  • Czechia's GDP growth slightly missed the consensus call and the CNB's winter forecast in the final quarter of 2022, according to preliminary data.
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