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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Strong Data Bodes Well For GDP

KRW

The won is expected to gain at the open today, 1-month NDF's are down 2.51 on the session at 1143.94. The greenback has weakened, and risk sentiment has been positive which will allow upside for EM currencies.

  • Data has also been supportive, South Korea June industrial output rose above estimates at 2.2% M/M compare to consensus 1.5%. Y/Y also beat estimates at 11.9% while the June cyclical leading index rose 0.3 points on the month. The robust data will soothe some market concerns after GDP was slightly below estimates earlier this week, though the BoK said the economy was still on track hit its 4% growth target.
  • Meanwhile, data earlier saw the business survey manufacturing index fall to 92 from 99, non-manufacturing fell to 78 from 82.
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