MNI China Daily Summary: Tuesday, April 30

MNI BRIEF: China To Keep Tackling Risks In Real Estate, Debts

MNI BRIEF: China Politburo Flags Policy Support; 3rd Plenum In July

MNI WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace

MNI BRIEF: Caixin Apr Manufacturing PMI Hits Over One-year High

MNI BRIEF: China April Mfg. PMI Moderates To 50.4

Strong Q1 GDP Print Consistent With Survey Outperformance

GDP Bounces On Construction / Exports; Weaker End-2023 On Revisions

MNI: ITALY APR FLASH HICP +0.6% M/M, +1% Y/Y

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 Holds Beneath 200-Day MA, USD/JPY Back To Late August Lows

FOREX

The USD has remained on the back foot for much of the session. The BBDXY index, currently sub 1264.00, remains below its 200-day MA (1266.36).

  • Risk-on signals have been evident in the equity and commodity space, although JPY is the standout performer within G10.
  • USD/JPY is down over 1.3%, last near 136.30, fresh lows for the session and levels last seen in late August. Domestic data has been mixed, while the BoJ's Noguchi hasn't broken new ground relative to other recent BoJ commentary.
  • AUD/USD is firmer, up to 0.6815, +0.40% for the session. The pair shrugged off a weak Q3 CAPEX result.
  • NZD has outperformed, up 0.60% to 0.6335. The AUD/NZD cross has remained heavy but found support around the 1.0750 level.
  • EUR (1.0445) and GBP (1.2100) are both up around 0.35% for the session so far.
  • There are European and US November manufacturing PMI/ISM data later. There is also some Fed speak and US consumption and jobless claims data.
Energy BulletsCommodities
Energy BulletsCommodities

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