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MNI China Daily Summary: Friday, Aug 23

MNI: PBOC Net Injects CNY241.5 Bln via OMO Friday

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CHINA PBOC CONDUCTS CNY379.3 BILLION VIA 7-DAY REVERSE REPOS FRI

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EZ/UK Bond Supply Calendar: EFSF RfP Sent, EU-Bonds Due Monday

MNI: CANADIAN JUN RETAIL SALES -0.3%; SALES EX-AUTOS/PARTS +0.3%

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

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Unemployment Rate Falls To Best Level Since 2019

CHILE
  • While in line with estimates, data released shows unemployment has reached the lowest level since 2019. December economic activity is scheduled to be released tomorrow.
    • Chile December Unemployment Rate 7.2%; Est. +7.2%
    • Chile December Manufacturing Output Rises 2.3% Y/y; Est. 2.6%
    • Chile Dec. Retail Sales +15.3% Y/y; Est. +20.5%
    • Chile Dec. industrial production rises 1.7% y/y
  • The USDCLP trend direction remains down and short-term gains are considered corrective. Attention is on support at 788.22, the Nov 10 low ahead of 783.23, the 50.0% retracement of the May - Dec 2021 upleg. Initial firm resistance is seen around 818 the 20-day EMA.
  • Incoming Finance Minister Mario Marcel was asked if he agrees with everything that appears in the government program of the future President.
    • He replied that " there are no things in the program with which I could say that I have a fundamental disagreement. There are things that one reads and says, one has to think hard about how it could be implemented or what would be required to make this work, but that doesn't mean I'm against it." (Emol.com)
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