MNI China Daily Summary: Wednesday, April 17

MNI BRIEF: China To Quicken Project Construction - NDRC

MNI BRIEF:ECB Unifies Interest On Non-Monetary Policy Deposits

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

MNI: PBOC Sets Yuan Parity Lower At 7.1025 Weds; -5.39% Y/Y

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

MNI: FOREIGN HOLDINGS OF CANADA SECURITIES -8.8B CAD IN FEB

ECB Underlying Inflation Metrics Support June Cut Consensus

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

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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Oil Prices To Rise Above $100/bbl By Fourth Quarter: Currie

OIL

Oil prices are expected to rise above $100/bbl by the fourth quarter of this year supported by the Chinese demand recovery, Jeff Currie, Head Of Commodities Research at Goldman Sachs said.

  • Talking about oil prices Currie Said: “The big event last year was that not Russia, it was China. Global oil demand contracted 2% in the fourth quarter of last year.”
  • “That created the spare capacity in oil, metals and everything and that manufacturing data that came out this morning says we are starting to reverse that.”
  • “We created the supply not through investment but by China contracting through lockdowns. Now if China comes back we are going to lose that spare capacity and we will have the same problems as we had before but even much worse because we haven’t invested”, he added
Energy BulletsCommodities
Energy BulletsCommodities

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