MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI BRIEF: Brazil CenBank Faces Greater Uncertainty - Campos

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

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

EZ/UK T-Bill Calendar: 3/6-Month ATB Auction on Tuesday

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

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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Scandi FX Underperforms on Local Equity Volatility

FOREX
  • The greenback trades well early Monday, with the USD Index recouping a small part of the Friday pullback, although the bounce has stopped short of taking out either 103.665 or 103.928.
  • Liquidity and price action has generally been subpar, with a UK market holiday keeping many traders on the sidelines ahead of key risk events later this week - most notably the Fed rate decision Wednesday as well as Friday's Nonfarm Payrolls release.
  • Equity markets have been more volatile, with flash crash-type price action triggered in Scandinavian stock markets - supposedly triggered by an incorrectly sized basket order at the open - which saw Sweden's OMX Index drop 7% in seconds, before swiftly paring the losses in the subsequent few minutes.
  • Euronext Oslo stated that there was no news in the market that could explain the rapid decline, adding that they are investigating the sharp fall "as a matter of routine". In response, SEK and NOK are underperforming in G10 - the weakest currencies so far this week.
  • ISM manufacturing for April is the data highlight Monday, with markets expecting an improvement in the headline to 57.6 from March's 57.1.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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