MNI China Daily Summary: Tuesday, April 2

MNI BRIEF: China to Incentivise Equipment Upgrades, Trade-Ins

MNI: PBOC Drains Net CNY148 Bln Via OMO Tues; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0957 Tues; -4.95% Y/Y

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

CHINA SETS YUAN CENTRAL PARITY AT 7.0957 TUES VS 7.0938

Services Stickiness To Offset Goods Pullback In State CPI Data

NBP Watch

MNI Projects Soft National CPI M/M Print, But Core Disinflation Slow

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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Price Signal Summary: USDBRL Remains Vulnerable

LATAM FX
  • USDMXN traded lower yesterday. The move lower this week has resulted in a break of support at 20.2080, the Jul 29 low and the 20.00 handle. This signals potential for a move towards 19.8193 next, the Jun 27 low. Key short-term resistance has been defined at 20.8335, the Aug 3 high. Initial resistance is at 20.5004, the Aug 4 high.
  • USDBRL has this week traded below 5.1298, the Aug 1 low. The clear break of 5.1298, highlights potential for a deeper pullback and has opened 5.0055, the 61.8% retracement of the May 30 - Jul 21 upleg. The 76.4% level is at 4.8853. On the upside, initial key resistance has been defined at 5.3157, the Aug 3 high. A break would reinstate a bullish focus and attention would turn to 5.5142, the Jul 21 high and a bull trigger.
  • USDCLP has pierced support at 884.75, Aug 1 low. A clear break would confirm a continuation of the current bear leg and open 853.40, the Jun 15 low. Initial firm resistance has been defined at 970.08, the Jul 22 high. A breach of this level is required to reinstate a bullish theme.
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