MNI China Daily Summary: Wednesday, April 3

MNI BRIEF: Japan Q4 Output Gap Posts Positive Figure - BOJ

MNI: PBOC Drains Net CNY248 Bln Via OMO Weds; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.0949 Weds; -4.77% Y/Y

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

CHINA SETS YUAN CENTRAL PARITY AT 7.0949 WEDS VS 7.0957

Services HICP At 4.0% Y/Y For 5th Consecutive Month

MNI: EUROZONE FEB UNEMPLOYMENT RATE 6.5%

MNI: EUROZONE MAR FLASH HICP +2.4% Y/Y

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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Stocks Within Range of ATH as Recovery Extends

EQUITIES
  • The equity recovery continues apace ahead of the Thursday open, with the e-mini S&P now within range of the all-time highs posted mid-June at 4258.25. The 50-day EMA remains a reliable trend indicator and continues to successfully identify where demand interest in this contract lies, once a corrective cycle is underway. Key short-term support has been defined at 4126.75. A break would signal scope for a deeper decline.
  • Across Europe, stocks are uniformly higher, with the Spanish IBEX-35 outperforming to trade with gains of 1.3% at the mid-point of the session. UK's FTSE-100 lags slightly, trading with shallower gains of 0.3%.
  • Europe's Tech sector is leading the way higher, with financials and consumer discretionary firms not far behind. The laggards Thursday are communication services and real estate names.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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