MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI BRIEF: Brazil CenBank Faces Greater Uncertainty - Campos

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

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

EZ/UK T-Bill Calendar: 3/6-Month ATB Auction on Tuesday

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

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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Pressured, Us Equities Aid Recovery From Session Lows

NZD

NZD/USD prints at $0.6480, ~0.4% softer in yesterday's trading.

  • The pair was pressured through the European session as fallout from yesterday's domestic inflation print and softer than expected German data saw the greenback on the front foot, however recent ranges were respected with support coming below $0.6460.
  • A rally in US Equities off their session lows, saw NZD/USD firm through the NY session, paring losses to deal at current levels.
  • AUD/NZD has closed above its 200-Day EMA, printing its highest level since mid-November.
  • Cross asset flows were mixed; DXY was ~0.3% softer and S&P500 was little changed albeit after opening down ~0.9%. US 10 Year Treasury Yields were little changed.
  • Bears first look to target 20-day EMA and round number resistance at $0.64. Bulls look to sustain a break above $0.6530 to re-establish their momentum.
  • The domestic data calendar is empty. Wider regional liquidity will be affected today with both China and Australia markets closed due to the observance of national holidays.
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