JPY: USD/JPY - Consolidating Above 160, Pushing The MOF Into A Corner

"*ECB VICE PRESIDENT GUINDOS SPEAKS TO FINANCIAL TIMES
*ECB SHOULD BE PRUDENT ON INTEREST RATES, GUINDOS TELLS FT
*GUINDOS: WAR'S EFFECT ON SENTIMENT UNDERESTIMATED AT TIMES
*GUINDOS: WAR'S GROWTH IMPACT TO BE MORE VISIBLE IN WEEKS AHEAD" - BBG

Below is a selection of key recent onshore media highlights for China ICYMI :

INFLATION (XINHUA): China's consumer inflation continues mild recovery in April

https://english.news.cn/20260511/60869079a7d440f6a71f1b801a11a3fc/c.html

US CHINA VISIT (XINHUA): China, U.S. to hold economic, trade consultations in ROK on May 12-13

https://english.news.cn/20260511/60869079a7d440f6a71f1b801a11a3fc/c.html

INFLATION (XINHUA): China's PPI up 2.8 pct in April

https://english.news.cn/20260511/21e85ec6e0514e7cb417749200eefbcb/c.html

INFLATON (CHINA DAILY)  CPI rebounded moderately and PPI growth widened

https://www.cs.com.cn/xwzx/01/2026/05/11/detail_2026051110010742.html

REGIONAL TIES (CHINA DAILY): RCEP seen as key anchor for Asian growth

https://www.chinadaily.com.cn/a/202605/10/WS6a00a7e1a310d6866eb47c9a.html

REGIONAL TIES (CHINA DAILY):  China, ASEAN to pool strength in blue economy

https://www.chinadaily.com.cn/a/202605/11/WS6a011503a310d6866eb47ccf.html

TAIWAN (RTRS): Taiwan 'confident' in US ties ahead of Trump visit to China

https://www.reuters.com/world/china/taiwan-confident-us-ties-ahead-trump-visit-china-2026-05-11/

MNI China Press Digest May 11: Services, Economy, Debt Risk
https://www.mnimarkets.com/articles/mni-china-press-digest-may-11-services-economy-debt-risk-1778465413232

Indonesian consumer confidence was little changed in April at 123.0 after March’s 122.9 supported by the assessment of economic conditions which rose 1.1 points to 116.5. Consumer expectations fell 0.8 points to 129.6. It appears to have stabilized after falling from January’s recent peak of 127.0. Despite elevated geopolitical uncertainty and supply chain problems, sentiment is higher than April 2024’s 121.7. 

• Q1 private consumption grew at 5.5% y/y up from Q4’s 5.1% and the fastest since Q2 2022. The pick up in spending was in line with increased optimism with sentiment averaging 125 up from Q4’s 122.9.
• It is early days in Q2 but if confidence holds around the April level then consumption should remain solid despite current uncertainties.

Indonesia consumer confidence vs private consumption

Source: MNI - Market News/LSEG

• The improvement in economic conditions was driven by better employment and durable purchases assessments but current incomes were weaker. The outlook was pressured by incomes, jobs and business activity.
• March domestic vehicle sales were weak down 13.8% y/y but in line with trends seen elsewhere given higher fuel prices.