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

BoE Data Watch

BoJ Data Watch

Fed Data Watch

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

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

AUD Bounces Off Overnight Lows as China Stocks Erase Early Weakness

FOREX
  • AUD is the strongest currency on the day across G10, with AUD/USD bouncing off overnight lows of $0.7400 in a move that coincided with a late recovery in Asia-Pacific equities. After sustaining losses of close to 1% at the midday break, the Shanghai Comp rose sharply on the resumption of trade, resulting in a near 2.5% swing for the index - a move that will likely raise questions around potential official involvement via state-run pension funds.
  • GBP trades a little softer following jobs data this morning that showed payrolled employees rose by a smaller margin than forecast, with the February release also seeing a negative revision. GBP/USD edged to new lows of 1.2994 following the release, narrowing the gap with the first support of 1.2983 - the Apr 8 low.
  • Lastly, the USD Index is very slightly higher - rising around 0.2% into the NY crossover having erased opening weakness. Focus turns to the looming US inflation release as well as the formal beginning of US earnings season, which sees a number of large US bank names report this week.
  • Focus turns to the US CPI release, at which markets expect M/M CPI to rise to 1.2% and for the Y/Y release to hit 8.4% - the highest rate since the early 1980's.
Energy BulletsCommodities
Energy BulletsCommodities

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.