MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

MNI BRIEF: PBOC To Watch CNY Moves Closely - Vice Governor Zhu

MNI BRIEF: China Aims To Digitalise 70% Of Firms By 2025

MNI BRIEF: Q1 Cross Border Activity Up 117.8% - Ministry

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

MNI: EUROZONE FEB CONSTRUCTION OUTPUT +1.8% M/M, -0.4% Y/Y

Q1 Industry Survey Suggests H1 Growth Tailwind

Indonesian Sov Curve Flattens, Barclays See BI Cutting Next Week

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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Omicron In Driving Seat

NZD

Risk sentiment turned sour Wednesday, prompting NZD/USD to reverse its initial gains. An intensifying sense of concern surrounding the Omicron variant of the Covid-19 virus was evident as the U.S. reported its first case of the new variant. Macro headline flow was relatively limited in New Zealand.

  • The rate last changes hands at $0.6812, little changed on the day. Losses past Nov 30 low of $0.6773 would support the bearish case, bringing Nov 2 low of $0.6589 into play. Bulls need a clearance of yesterday's high of $0.6868 before taking aim at the 50-DMA at $0.7018.
  • New Zealand's terms of trade index rose 0.7% Q/Q in Q3, missing the BBG median estimate of +2.0%.
  • The local economic docket is fairly empty during the remainder of this week.
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