MNI China Daily Summary: Thursday, June 20

NORGES BANK HEAD: EITHER HIKE OR EARLIER CUT POSSIBLE

NORGES BANK HEAD SEES POLICY RATE AT 4.5% TO END YEAR

MNI: PBOC Net Injects CNY18 Bln Via OMO Thu; Rates Unchanged

CHINA PBOC CONDUCTS CNY20 BILLION VIA 7-DAY REVERSE REPOS THU

MNI: PBOC Sets Yuan Parity Higher At 7.1192 Thu; -1.93% Y/Y

MNI: US Q1 CURRENT ACCOUNT GAP -$237.6B

MNI: US JUN PHILADELPHIA FED MFG INDEX 1.3

MNI: US JOBLESS CLAIMS -5K TO 238K IN JUN 15 WK

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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US Data: Highlights of MNI Survey of Economic Forecasts 

Repeats Story Initially Transmitted at 21:06 GMT May 31/17:06 EST May 31
     WASHINGTON (MNI) - The following are highlights of forecasts for   
upcoming U.S. economic indicators provided by participants in the MNI   
weekly survey. The comment section presents the key elements behind the 
median forecasts.
Nonfarm Payrolls for May (change in thousands)                          
 Friday, June 1 at 8:30 a.m. ET                          Actual:        
               Median         Range                  May18  Apr18  Mar18
 Payrolls      +194k      +169k to +217k                --  +164k  +135k
 Private Job   +200k      +165k to +217k                --  +168k  +135k
 Jobless Rate  3.9%        3.8% to 4.0%                 --   3.9%   4.1%
 Hrly Earnings +0.2%      +0.2% to +0.3%                --  +0.1%  +0.2%
 Avg Wkly Hrs  34.5        34.4 to 34.5                 --   34.5   34.5
     Comments: Nonfarm payrolls are forecast to rise by 194,000 in May  
after a weaker-than-expected 164,000 rise in April. The unemployment    
rate is expected to hold steady at the 18-year low of 3.9%. Hourly      
earnings are forecast to rise 0.2% after a 0.1% gain, while the average 
workweek is expected to hold steady at 34.5 hours for another month.    
Domestic Motor Vehicle Sales for May (mln units, saar)                  
 Friday, June 1                                          Actual:        
               Median         Range                  May18  Apr18  Mar18
 Sales Ex GM   --               --                      --   9.9m  10.2m
     Comments: Domestic-made vehicle sales are expected to hold roughly 
steady in May after slowing in April, though there is some downside risk
as seasonal adjustment factors will subtract significantly from         
unadjusted May sales after adding modestly to April sales.              
Construction Spending for April (percent change)                        
 Friday, June 1 at 10:00 a.m. ET                         Actual:        
               Median         Range                  Apr18  Mar18  Feb18
 Construction  +0.8%      +0.5% to +1.0%                --  -1.7%  +1.0%
     Comments: Construction spending is expected to rose by 0.8% in     
April. Housing starts fell in the month, suggesting private residential 
building pulled back further after a large March dip.                   
ISM Manufacturing Index for May                                         
 Friday, June 1 at 10:00 a.m. ET                         Actual:        
               Median         Range                  May18  Apr18  Mar18
 Mfg ISM       58.9        56.8 to 60.0                 --   57.3   59.3
     Comments: The ISM manufacturing index is expected to rebound       
modestly to a reading of 58.9 in May after declining further to 57.3 in 
April. Regional conditions data have pointed overwhelmingly to improved 
conditions.                                                                     
--MNI Washington Bureau; +1 202-371-2121; email: holly.stokes@marketnews.com
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