MNI China Daily Summary: Wednesday, June 19

MNI BRIEF: Rate Changes Affect Eurozone More Than US Firms-ECB

MNI BRIEF: BOJ May Real Export Index Drops 1.4% M/M

MNI BRIEF: PBOC, MOF To Promote Treasury Trades Progressively

MNI: PBOC Net Injects CNY276 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY278 BILLION VIA 7-DAY REVERSE REPOS WEDS

US MBA: REFIS -0.4% SA; PURCH INDEX +2% SA THRU JUNE 14 WK

MNI: US MBA: MARKET COMPOSITE +0.9% SA THRU JUN 14 WK

MNI: EUROZONE APR CONSTRUCTION OUTPUT -0.2% M/M, -1.1% Y/Y

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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Struggling To Make Gains

AUD

AUD/USD charted a Doji candlestick Monday, as the rate failed to cling onto its initial gains. Although it printed a fresh two-week high in early trade, the initial rally proved unsustainable. Hawkish comments from Fed Chair Powell added pressure to the pair.

  • When this is being typed, AUD/USD trades at $0.7394, down 6 pips on the day. Bears keep an eye on $0.7165, which limited loses on Mar 15. Bulls look to a rally above Mar 7 high of $0.7441, followed by Nov 2, 2021 high of $0.7532.
  • ANZ Roy Morgan Weekly Consumer Confidence Index plunged to 91.2 in the week through Mar 20, the lowest level since September 2020, as rising petrol prices fuelled inflation expectations.
  • On the data front, focus moves to preliminary S&P Global PMI figures, due for release this Thursday. In the meantime, RBA Gov Lowe will deliver a speech later today.
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