MNI China Daily Summary: Friday, April 12

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: PBOC Injects Net CNY2 Bln Via OMO Fri; Rates Unchanged

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

CHINA END-MAR M2 +8.3% Y/Y VS MEDIAN +8.8%; END-FEB +8.7% Y/Y

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

Final March Inflation Reading Confirms Softening Core Dynamics

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Westpac: Some Headwinds Set To Cap In Q1

AUD

Westpac note that "the Aussie has barely paused since bouncing off $0.70 in early November, with early January highs above $0.78 the strongest levels since March 2018. Rapid global equity gains following the US elections, optimism over Covid-19 vaccines, and resurgent iron ore prices (9-year highs) have all played a role. Since the US dollar typically underperforms in global economic upswings, dips in AUD/USD should be shallow. However, our end-Q1 forecast of $0.76 implies some headwinds capping the A$, including upward pressure on US Treasury yields following the Democrats' recapturing of Senate control, the RBA's aggressive A$100bn QE program (with potential for more), ongoing pain for Australia's tourism and education exports, and tensions with China which will hurt both investment and exports."

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.