MNI China Daily Summary: Thursday, Aug 29

MNI BRIEF: China Discussing Placing Tariffs On Auto Imports

MNI: Japan Govt Upgrades Economic View, Private Consumption

MNI BRIEF: PBOC Restarts CGB Trade After Nearly Two Decades

MNI: PBOC Net Drains CNY208.4 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1299 Thurs; +2.34% Y/Y

MNI: GERMANY NRW AUG CPI -0.1% M/M, +1.7% Y/Y

MNI: BAVARIA AUG CPI -0.1% M/M, +2.1% Y/Y

MNI: SPAIN AUG FLASH HICP +0% M/M, +2.4% Y/Y

UK: Week Ahead

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Narrow Ranges In Recent Dealing, RBA Minutes On Tap

AUDNZD

AUD/NZD has sat in a narrow range between the 200-Day EMA ($1.0820) and the 20-Day EMA ($1.0774) in recent dealing with little follow through on moves.

  • The cross sits at $1.0785/90 this morning.
  • Rate differentials, observed via 2-Year Swaps, sit at -77bps. We had been as wide as -104bps in early December.
  • On the upside bulls look to break the 200-Day EMA which opens the $1.09 handle, high from 2 Nov ($1.0945) and $1.10.
  • Bears focus on the 20-Day EMA, the $1.07 handle and the low from 7 Dec ($1.0656).
  • On tap today is the RBA minutes of the Dec Policy Meeting.
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