MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

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

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

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Strong retail sales rebound - but little monpol impact

UK DATA
DataHomepagemarkets-real-timeData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • The ONS notes that this was the largest inc-fuel monthly rise since April 2021 (returning volumes to November 2023 levels). But this also followed December 2023's record fall (which was revised down a little further to -3.3%M/M from -3.2%M/M.
  • Biggest upwards contributors to the data were food stores with all subsectors except clothing increasing M/M.
  • As we noted before this is probably partly an issue with the seasonal adjustment of the data in December.
  • But in Y/Y terms that's only the second positive print since April 2022.- We still see no impact on monpol from this release.
  • GBPUSD spiked up around 20 pips to just above its overnight high to print 1.2606 - but we have retraced around half of that move now.
119 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • The ONS notes that this was the largest inc-fuel monthly rise since April 2021 (returning volumes to November 2023 levels). But this also followed December 2023's record fall (which was revised down a little further to -3.3%M/M from -3.2%M/M.
  • Biggest upwards contributors to the data were food stores with all subsectors except clothing increasing M/M.
  • As we noted before this is probably partly an issue with the seasonal adjustment of the data in December.
  • But in Y/Y terms that's only the second positive print since April 2022.- We still see no impact on monpol from this release.
  • GBPUSD spiked up around 20 pips to just above its overnight high to print 1.2606 - but we have retraced around half of that move now.