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CHINA PBOC CONDUCTS CNY50 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1268 Fri; -0.32% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1268 FRI VS 7.1270

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MNI: SPAIN JUN FLASH HICP +0.3% M/M, +3.5% Y/Y

MNI: FRANCE JUN HICP +0.1% M/M, +2.5% Y/Y

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

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

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A$ Lower Vs Stronger USD But Higher Against Europe, Retail Sales Coming Up

AUD

Aussie fell 0.7% versus the greenback but was still one of the better G10 performers, as the USD rallied following better-than-expected US GDP and price data which improved expectations of a soft landing story. The USD index rose 0.9%. AUDUSD is currently around 0.6710.

  • AUDUSD traded in a wide range on Thursday with an intraday high of 0.6821 and a low of 0.6698. It found some round number support at 0.6700 as the move below was very brief. But the break below the 50-day EMA at 0.6723 opens up 0.6651, the July 11 low. Initial resistance is at 0.6847.
  • AUDJPY is down 1.4% to 93.40 after the Nikkei reported that the Bank of Japan will discuss tweaking the YCC policy at its meeting today. BoJ is the main risk event today.
  • AUDNZD is 0.4% lower to 1.0845 after an intraday high of 1.0899 in the European session. Aussie is higher against European currencies following a more cautious ECB. AUDEUR is +0.2% to 0.6110 and AUDGBP +0.4% to 0.5244.
  • Equity markets were mixed with the S&P down 0.6% but Eurostoxx up 2.3%. VIX rose to 14.4%. Oil prices were over 1% higher following the good US growth data with WTI currently at $79.74/bbl. Copper fell 1.4% and iron ore is around $111.50/t.
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