MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

MNI BRIEF: PBOC To Watch CNY Moves Closely - Vice Governor Zhu

MNI BRIEF: China Aims To Digitalise 70% Of Firms By 2025

MNI BRIEF: Q1 Cross Border Activity Up 117.8% - Ministry

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

MNI: EUROZONE FEB CONSTRUCTION OUTPUT +1.8% M/M, -0.4% Y/Y

Q1 Industry Survey Suggests H1 Growth Tailwind

Indonesian Sov Curve Flattens, Barclays See BI Cutting Next Week

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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Risk Switch Flicks To Off

FOREX

Risk-off flows now sweep across G10 FX space, with major crosses unwinding earlier moves. At the first glance, it is hard to pin the reversal in risk appetite on any particular fresh headline catalyst, but it has coincided with a bout of equity weakness.

  • JPY sits atop the G10 pile as the Nikkei 225 has retreated, while U.S. e-mini futures have ticked lower. Antipodean currencies have turned into the main laggards.
  • USD/CNH still trades below neutral levels, but has trimmed earlier losses over the last hour or so. The rate last sits at CNH6.3893, ~50 pips worse off on the day, off the session low of CNH6.3832.
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