MNI China Daily Summary: Wednesday, June 12

MNI BRIEF: Beijing Willing To Safeguard Chinese Firms - MOFCOM

MNI BRIEF: China May CPI Flat At 0.3% Y/Y

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

MNI: PBOC Sets Yuan Parity Lower At 7.1133 Weds; -1.75% Y/Y

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

Rather Encouraging CPI Details Despite Services Acceleration (2/2)

Rather Encouraging CPI Details Despite Services Acceleration (1/2)

UK GDP a tenth higher than expected driven higher by services

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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Muted Start Across G-10

FOREX

There has been a muted start across G-10 FX on Thursday morning, a reminder that US and Japanese markets are closed today for the observance of national holidays and general liquidity is affected. Cross asset flows are muted, WTI is a touch lower and Tsy futures are little changed.

  • AUD/USD sits in a $0.6040/50 range this morning. Judo Bank PMIs remain in contractionary territory, flash November prints were 47.7 (mfg) 46.3 (Services) and 46.4 (Composite) with all three ticking lower from the October reads.
  • Kiwi is also dealing in a narrow range, NZD/USD held above $0.60 yesterday and sits at $0.6025/30 this morning.
  • Yen is a touch firmer and has ticked away from yesterday's session highs, however ranges remain narrow. Technically the recent weakness looks like a correction, resistance comes in at ¥149.75 high from Nov 22. Support comes in at ¥147.15, low from Nov 21.
  • Elsewhere in G-10 there has been little of note to highlight this morning.
  • The docket is thin today in Asia, the Yuan fixing will be closely watched this morning as bouts of USD weakness have been seen in the immediate aftermath in recent sessions.
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