MNI China Daily Summary: Thursday, July 25

MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

Aircraft-Led Durables Collapse Masks Rebound In Core Orders

MNI: BELGIUM JUL BNB BUSINESS SURVEY -12.3

MNI: US Q2 GDP +2.8%

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

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A$ Underperforms, RBA Minutes Coming Up

AUD
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Aussie was one of the underperformers on Tuesday as higher US yields pushed the USD index up 0.1%. AUDUSD began trending lower in the European session as commodities came off their intraday highs, and is down 0.4% to 0.6667 after a low of 0.6662. It is currently trading around 0.6670.

  • AUDUSD retains its bullish theme and moves lower are seen as corrective. Yesterday’s sell off sees the pair hovering around the March 8 high of 0.6668. Initial support is at 0.6597, 20-day EMA, and resistance at 0.6714, May 16 high.
  • AUDJPY is flat at 104.22 after a low of 103.91. AUDNZD is up 0.1% to 1.0921. AUDEUR is 0.3% lower at 0.6142 and AUDGBP -0.4% at 0.5248.
  • Equities rose with the S&P up 0.1% and Euro stoxx +0.2%. Oil prices are lower with Brent down 0.3% to $83.71/bbl. Copper is up 1.1% and iron ore is approaching $120/t.
  • Today the RBA minutes from the May meeting as well as Westpac consumer confidence for May are released.
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Aussie was one of the underperformers on Tuesday as higher US yields pushed the USD index up 0.1%. AUDUSD began trending lower in the European session as commodities came off their intraday highs, and is down 0.4% to 0.6667 after a low of 0.6662. It is currently trading around 0.6670.

  • AUDUSD retains its bullish theme and moves lower are seen as corrective. Yesterday’s sell off sees the pair hovering around the March 8 high of 0.6668. Initial support is at 0.6597, 20-day EMA, and resistance at 0.6714, May 16 high.
  • AUDJPY is flat at 104.22 after a low of 103.91. AUDNZD is up 0.1% to 1.0921. AUDEUR is 0.3% lower at 0.6142 and AUDGBP -0.4% at 0.5248.
  • Equities rose with the S&P up 0.1% and Euro stoxx +0.2%. Oil prices are lower with Brent down 0.3% to $83.71/bbl. Copper is up 1.1% and iron ore is approaching $120/t.
  • Today the RBA minutes from the May meeting as well as Westpac consumer confidence for May are released.