MNI China Daily Summary: Wednesday, June 19

MNI BRIEF: Rate Changes Affect Eurozone More Than US Firms-ECB

MNI BRIEF: BOJ May Real Export Index Drops 1.4% M/M

MNI BRIEF: PBOC, MOF To Promote Treasury Trades Progressively

MNI: PBOC Net Injects CNY276 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY278 BILLION VIA 7-DAY REVERSE REPOS WEDS

US MBA: REFIS -0.4% SA; PURCH INDEX +2% SA THRU JUNE 14 WK

MNI: US MBA: MARKET COMPOSITE +0.9% SA THRU JUN 14 WK

MNI: EUROZONE APR CONSTRUCTION OUTPUT -0.2% M/M, -1.1% Y/Y

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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Retail Sales Could See Weak December Advance

CANADA
  • Retail sales land tomorrow for November and the December flash, the last notable data point before Wednesday’s BoC decision.
  • Consensus sticks to the flat print implied by last month’s Nov flash (cons 0.0% M/M), and with a similar reading for sales ex autos (-0.1% M/M).
  • CIBC: “More discretionary areas of spending likely struggled as households continue to make cutbacks due to higher interest rates. The advance estimate for December could look weak in nominal terms, partly due to the impact of lower gasoline prices.”
  • RBC: “Our own RBC cardholder data suggests purchases of physical merchandise (excluding motor vehicles) are tracking higher in Q4 as a whole, but December marked a slowdown in both discretionary goods and services spending.”
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