MNI China Daily Summary: Thursday, May 16

MNI BRIEF: China To Take Necessary Measures Following Tariffs

MNI BRIEF: Aussie Unemployment Rises To 4.1% In April

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

MNI: PBOC Sets Yuan Parity Lower At 7.1020 Thurs; -3.70% Y/Y

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

MNI: US APR INDUSTRIAL PROD +0.0%; CAP UTIL 78.4%

Homebuilding Activity Transitioning From Plateau To Pullback

MNI: US JOBLESS CLAIMS -10K TO 222K IN MAY 11 WK

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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Petrobras Should Discuss Extraordinary Dividends At Today’s AGM

BRAZIL
BulletEM BulletEmerging Market NewsHomepage
  • Last night, Congress’ planned vote on presidential vetoes was postponed until the week of May 7-9, after the government successfully pushed back over concerns that the vetoes would be overturned, especially those made to the 2024 budget. Separately, Finance Minister Haddad delivered the government’s tax reform proposal to lower house Speaker Lira, saying that the reform will have an impact of 10-20% on Brazil’s GDP, due to the efficiency gains.
  • Today, April FGV construction costs will be released at 1200BST(0700ET), with analysts looking for a 0.35% m/m increase, vs. +0.24% prior. On the political front, Finance Minister Haddad and BCB President Campos Neto will attend a National Monetary Council virtual meeting at 1900BST. Meanwhile, Vale is due to hold a conference call at 1500BST(1000ET) after reporting Q1 earnings after market close yesterday. Petrobras will hold its AGM at 1700BST today, during which it should discuss extraordinary dividends for 2023.
  • In other news, BCB employees have accepted the government’s latest salary proposal, according to a statement from the union. Workers will see a salary increase of up to 10.9% in January 2025 and up to 10.9% in May 2026.
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  • Last night, Congress’ planned vote on presidential vetoes was postponed until the week of May 7-9, after the government successfully pushed back over concerns that the vetoes would be overturned, especially those made to the 2024 budget. Separately, Finance Minister Haddad delivered the government’s tax reform proposal to lower house Speaker Lira, saying that the reform will have an impact of 10-20% on Brazil’s GDP, due to the efficiency gains.
  • Today, April FGV construction costs will be released at 1200BST(0700ET), with analysts looking for a 0.35% m/m increase, vs. +0.24% prior. On the political front, Finance Minister Haddad and BCB President Campos Neto will attend a National Monetary Council virtual meeting at 1900BST. Meanwhile, Vale is due to hold a conference call at 1500BST(1000ET) after reporting Q1 earnings after market close yesterday. Petrobras will hold its AGM at 1700BST today, during which it should discuss extraordinary dividends for 2023.
  • In other news, BCB employees have accepted the government’s latest salary proposal, according to a statement from the union. Workers will see a salary increase of up to 10.9% in January 2025 and up to 10.9% in May 2026.