RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

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

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

MNI: PBOC Sets Yuan Parity Lower At 7.1043 Mon; -4.74% Y/Y

MNI BRIEF: China’s April Loan Prime Rate Unchanged

CHINA SETS YUAN CENTRAL PARITY AT 7.1043 MON VS 7.1046

INDON Sov Curve Flatter, Trade Surplus Soars, BI Decision Wednesday

MNI: BAKER HUGHES US RIG COUNT 619; OIL RIGS 511; GAS RIGS 106

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

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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Lacking Clear Direction

FOREX

AUD climbed at a steady pace, with neither in-line to marginally above-forecast Australian CPI figures nor comments from RBA's Harper altering its trajectory in any meaningful way. Harper told the WSJ that the RBA has firepower to add monetary stimulus if needed, but his comments didn't really move the needle. Cross-flows may have bolstered broader AUD strength, as decent demand for AUD/NZD allowed it to return above the support area from 38.2% Fibo retracement of YtD range/200-DMA breached yesterday.

  • JPY rallied amid lingering concerns over spiralling coronavirus case counts in Europe and upcoming security briefing from the FBI & U.S. DoJ. The Eurozone's shared currency was dented by regional Covid-19 situation and landed at the bottom of the G10 pile. EUR/JPY sank through key support zone at Y123.03/02, charting a double top pattern.
  • NOK was among the worst performers in G10 FX space, as oil extended yesterday's losses registered after the release of the latest API report, which revealed a larger than expected increase in U.S. crude stockpiles.
  • Focus turns to BoC MonPol decision, French consumer confidence, Spanish & Swedish retail sales, flash U.S. wholesale inventories as well as comments from Fed's Kaplan, BoC's Macklem & ECB's de Cos.
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