MNI China Daily Summary: Monday, May 6

MNI: China CFETS Yuan Index Up 0.03% In Week of Apr 30

MNI: PBOC Net Drains CNY8 Bln Via OMO Mon; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.0994 Mon; -4.33% Y/Y

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

CHINA SETS YUAN CENTRAL PARITY AT 7.0994 MON VS 7.1063

PPI ex-energy remains at -1.3%Y/Y in March

MNI: EUROZONE MAR PPI -0.4% M/M, -7.8% Y/Y

Services PMIs improve more in core than periphery vs March

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

Supported At $1.08, Rate Differentials Tick Wider, RBA On Tap

AUDNZD

AUD/NZD was supported below the $1.08 handle yesterday, the pair printed its lowest level since mid-July before paring losses.

  • A narrow $1.08/09 range has persisted for the most part in recent dealing however the cross now sits below its 20- and 200-Day EMAs. AUD/NZD last prints at $1.0815/25.
  • Rate differentials, observed via 2 Year Swaps, have ticked wider in recent dealing. We sit at -117bps, having been as narrow as -100bps last week.
  • On the downside bears look to break yesterday's low ($1.0780), which opens the low from 17 July ($1.0725) and year to date lows ($1.0560).
  • Bulls target the 200-Day EMA ($1.0845), which opens the high from 25 July ($1.0919) and the $1.10 handle.
  • On the wires today we have the latest monetary policy decision from the RBA, the decision is a close call between holding rates steady and a 25bp increase. The MNI preview is here.
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

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.