MNI China Daily Summary: Friday, April 19

MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

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

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

MNI: PBOC Sets Yuan Parity Higher At 7.1046 Fri; -5.03% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1046 FRI VS 7.1020

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

INE Business Confidence Data Supports Upward Revisions In Q1 GDP Forecasts

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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Rangebound

JPY

USD/JPY has held a tight range so far, last sits little changed at Y110.19. A break above Jun 17 high of Y110.82 would bring Mar 31 high & bull trigger at Y110.97 into play. Bears would be pleased by a slide through Jun 16 low of Y109.81, which would expose Jun 7 low & 50-DMA at Y109.19.

  • The latest MNI exclusive piece looked at the BoJ's assessment of the yen's impact on the economy.
  • The Nikkei reported that the gov't plans a Y100bn fund in 2022 for technologies such as semiconductors, batteries and AI. The details will be outlined in the draft budget for FY2022.
  • Tokyo scrapped all public viewing events during the upcoming Olympics, while Kyodo reported that attendance at the opening ceremony may be capped at 20,000. The news agency circulated an opinion poll, which showed that 86% of people in Japan fear a rebound in Covid-19 infections if the games are held.
  • Focus in Japan turns to final machine tool orders (Tuesday), flash Jibun Bank PMIs (Wednesday) as well as Tokyo CPI (Friday). On Wednesday, the BoJ will release the slightly outdated minutes from their Apr MonPol meeting, while Thursday will see a speech from BoJ Gov Kuroda.
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