MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

CBI Retail Sales Fell Faster Than Expected For The Second Month

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

A December Hike More Likely

POLAND
  • Poland and the Baltic states consider requesting talks under Article 4 of the NATO treaty, which any member nation may request consultations if it considers its territorial integrity, political independence or security is at risk (BBG).
  • In the past two months, selling pressure on PLN has remained elevated despite the recent aggressive hikes by the NBP.
  • In addition to several factors that could impact Polish risky assets in the near to medium term (ongoing dispute with EU, FX-loan settlements, rise in LT rates…), the inversion of the yield curve recently and the sharp upward retracement in short-term rates have increased the probability of a recession coming ahead.
  • With the Fed tapering and recession risks rising in some EM economies, risk Is skewed to the downside for PLN, recently trading at its lowest level since May 2020 against the USD.
  • This morning, NBP Glapinksi mentioned that a rate hike was likely for now, while NBP member Karnowski said that the central bank missed the right time to hike rates.
  • Next important data to watch will be core CPI coming out tomorrow (1pm London time), expected to accelerate to 4.5% in October (vs. 4.2% the previous month).
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.