MNI: POWELL SAYS PCE INFLATION CAME IN LINE WITH EXPECTATIONS

MNI China Daily Summary: Friday, March 29

MNI: PBOC Injects Net CNY148 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0950 Fri; -4.70% Y/Y

CHINA PBOC INJECTS CNY150 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.0950 FRI VS 7.0948

MNI: US FEB PERSONAL INCOME +0.3%; NOM PCE +0.8%

HICP Tracking at 2.4%Y/Y - One tenth below consensus

HICP 2 tenths softer than expected, but partly on clothing prices

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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Q2 GDP & BoP Current Account Balance Inbound

MYR

Spot USD/MYR operates at MYR4.4468, up 18 pips on the day. The pair still oscillates within a familiar flat range centred around the MYR4.4500 mark. A break above Aug 8 high of MYR4.4633 would bring Jan 4, 2017 high of MYR4.5002 into play. Bears keep an eye on the 50-DMA, which kicks in at MYR4.4280.

  • Palm oil futures kept creeping higher in Thursday's after-hours trade as the broader commodity complex (including other edible oils) showed resilience. The contract for October delivery approached key resistance from Jul 29 high of MYR4,306/MT.
  • Data from cargo surveyor SGS showed that Malaysia shipped 16.1% less palm oil in the first 10 days of August than over the same period in July. This contrasts with data published by AmSpec (10% M/M rise during Aug 1-10) and Intertek (10.5% M/M increase).
  • We will get the latest data on GDP & BoP current account balance from Malaysia within a few hours. The economy is expected to have grown +7.0% Y/Y in Q2, while current account surplus may have expanded to MYR6.8bn, according to the median estimates from BBG surveys of analysts.
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