MNI BRIEF: China March Mfg. PMI Returns To Expansion

MNI: POWELL SAYS PCE INFLATION CAME IN LINE WITH EXPECTATIONS

MNI China Daily Summary: Friday, March 29

MNI: PBOC Injects Net CNY148 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0950 Fri; -4.70% Y/Y

CHINA PBOC INJECTS CNY150 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: US FEB PERSONAL INCOME +0.3%; NOM PCE +0.8%

HICP Tracking at 2.4%Y/Y - One tenth below consensus

HICP 2 tenths softer than expected, but partly on clothing prices

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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Sideways

JPY

USD/JPY traded sideways on Tuesday, with little in the way of notable catalysts coming out of Japan. FinMin Suzuki reaffirmed a sense of concern with the yen's recent sharp decline and noted that Japan remains in close communication with the U.S. on FX matters, but steered clear of any explicit mentions of a potential intervention.

  • The pair last deals at Y130.37, down 7 pips on the day. Should May 4 low of Y128.63 give way, bears could set their sights on Apr 27 low of Y126.95. On the flip side, bulls look for a move through May 9 high of Y131.35.
  • Voices to ease border rules grow louder, as senior LDP lawmaker Seko called for removing the cap on daily arrivals and abolishing virus testing on entry.
  • Japanese data highlights during the remainder of this week include BoP current account balance, Eco Watchers Survey and the summary of opinions from the BoJ's most recent monetary policy meeting. All releases are due Thursday.
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