MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

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

MNI: PBOC Sets Yuan Parity Lower At 7.1043 Mon; -4.74% Y/Y

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

NBH Data Watch

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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USD Index Falters, Led Lower by USD/CNH

FOREX
  • The USD Index sits slightly softer, partially erasing the Monday strength as the currency recouples with the US yield curve. 10y yields sit lower by close to 4bps, keeping yields close to yesterday's lows of 3.758%.
  • NZD is on the front foot, with markets again posturing ahead of the RBNZ decision on Wednesday. The bank are expected to raise rates by a further 75bps to 4.25%.
  • USD/CNH backtracked in early European / late Asia-Pac hours, putting the pair back below the 50-dma in a move that may raise suspicion of official intervention in the currency. No specific headline trigger or newsflow to prompt the move, with USD/CNH now partially erasing the uptick posted early Monday. Any break below 7.1136 opens losses toward 7.1031, the 50% retracement for the Nov 14 - Nov 21 upleg.
  • Canadian retail sales, Eurozone consumer confidence and Richmond Fed Manufacturing Index make up the data calendar, with speakers from central banks including Fed's Mester, George and Bullard as well as BoC's Rogers and testimony from the UK Chancellor Jeremy Hunt.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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