MNI: PBOC Net Drains CNY98 Bln Via OMO Thurs; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1305 Thurs; -0.79% Y/Y

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1305 THURS VS 7.1312

MNI NBP WATCH: Rates Held As 2024 Outlook Remains Hawkish

MNI BRIEF: ADP's Richardson Sees Pockets of Weakness in US Job Market

Australia May Exports +2.8%; Imports +3.9%

MNI:AUSTRALIA MAY TRADE BALANCE A$+5773

US Treasury Auction Calendar

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

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Summary – February 19

LATAM
  • In Brazil, economic activity data for December will be published on Monday, while in Chile the latest BCCh traders survey will also be released. The US is closed today for the Presidents Day holiday. Later this week, the focus will be on the FOMC minutes on Wednesday. In Latam, Banxico minutes from the Feb 8 MPC meeting will be released on Thursday, while Mexico bi-weekly CPI data will also cross this week, alongside December retail sales.
  • Global News:
    • US – President Biden blamed US lawmakers’ failure to approve emergency aid to Ukraine for the fall of Avdiivka, which handed Russia a significant battlefield victory after months of fighting for control of the city. However, he also assured his Ukrainian counterpart that $60bn in military aid, which still needs to pass a final congressional vote, is on its way.
    • US (MNI) – San Francisco Fed President Mary Daly said Friday that policymakers must avoid cutting interest rates too early and that work remains in the inflation fight. "To finish the job will take fortitude. We will need to resist the temptation to act quickly when patience is needed and be prepared to respond agilely as the economy evolves," Daly said.
    • CHINA – At a State Council meeting on Sunday, Chinese Premier Li Qiang called for “pragmatic and forceful” action to boost the nation’s confidence in the economy, underscoring the government’s concern with a struggling recovery and stocks rout.
    • MIDEAST – Israel will launch a ground offensive in the Rafah area of Gaza unless the hostages still held by Hamas are released by the Ramadan holiday in March, Israeli Minister Without Portfolio Benny Gantz said on Sunday.
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