MNI China Daily Summary: Wednesday, April 17

MNI BRIEF: China To Quicken Project Construction - NDRC

MNI BRIEF:ECB Unifies Interest On Non-Monetary Policy Deposits

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

MNI: PBOC Sets Yuan Parity Lower At 7.1025 Weds; -5.39% Y/Y

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

US EIA: CRUDE OIL STOCKS EX SPR +2.74M TO 460.0M APR 12 WK

MNI: FOREIGN HOLDINGS OF CANADA SECURITIES -8.8B CAD IN FEB

ECB Underlying Inflation Metrics Support June Cut Consensus

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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Ringgit Oscillates In Familiar Range, Offshore Impetus In Driving Seat

MYR

Spot USD/MYR has added 37 pips thus far to last trade at MYR4.4030, with the move driven solely by overnight greenback purchases. The rate still sticks to a tight range, with its ADX trending lower.

  • From a technical standpoint, a move through Jun 14 high of MYR4.4255 could reignite bullish momentum. Bears look for a slide through Jun 17 low of MYR4.3945 before taking aim at May 31 low of MYR4.3643.
  • Palm oil finished lower on Wednesday after meandering through the session, as participants assessed the outlook for production and export of the edible oil.
  • The Agriculture Ministry said it will extend the price cap on poultry chicken to keep a lid on costs of food, walking back on earlier plans to terminate the measure come the end of the month. But the price ceiling will be raised to MYR9.40/kg of standard chicken from MYR8.90/kg, effective Friday.
  • On the data front, focus turns to S&P Global M'fing PMI, due Friday.
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