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

EZ/UK Bond Supply Calendar: Spain, France Auction on Thursday

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

EZ/UK Bond Supply Calendar: Spain, France Auction on Thursday

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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U.S. Pres Transition Matters Help Risk, NZD Jumps As FinMin Proposes Amending RBNZ Remit

FOREX

Risk-on mood has taken hold in G10 FX space since the NY/Asia crossover, after the U.S. General Service Administration ascertained Joe Biden as the "apparent winner" of the U.S. presidential election, triggering a formal transition process, while U.S. President Trump agreed to cooperate "with regard to initial protocols".

  • NZD shot higher as NZ FinMin Robertson proposed amending the RBNZ remit, to add housing prices as a factor in making decisions on monetary policy. The kiwi leads gains in G10 FX space, with its commodity-tied peers also trading on a firmer footing.
  • Safe haven currencies have retreated, with JPY sitting at the bottom of the G10 pile after Japan has returned from holidays.
  • German Ifo Survey & final GDP, U.S. Conf. Board Consumer Confidence take focus today, with speeches due from RBA's Debelle, Fed's Bullard, Williams & Clarida, ECB's Lagarde, Lane & de Cos, BoE's Haskel & BoC's Wilkins.
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