MNI China Daily Summary: Friday, July 12

MNI BRIEF: China June M2 SlowsTo Record Low For Third Month

MNI BRIEF: China Steel Export Growth Slows In June

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

Retail Sales / Services Turnover Publications Postponed Indefinitely

CHINA H1 NEW LOANS CNY13.27 TRLN VS JAN-MAY CNY11.14 TRLN

Inflation Momentum Ticks Up Despite Lower-than-expected Print

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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AUD/JPY: Lowest Level Since March 2022

AUD

AUD/JPY was pressured yesterday, the pair was fell ~1.6% from session highs to print its lowest level in a year at ¥86.92, before marginally paring losses.

  • The AUD was pressured as weakness in US equities led by a decline in regional banks weighed on risk sentiment. Despite finishing marginally higher yesterday the S&P500 fell as much as ~2% from session highs before firming into the close.
  • On the wires a short time ago Japans February National CPI crossed. Headline (3.3%) and Core (3.1%) figures were in line with expectations. Core-core measure was a touch above expectations at 3.5%.
  • Bears look to target ¥85.00, a break through here opens the bottom of the bear channel at ¥83.72.
  • Bulls first look to break the 20-Day EMA at ¥89.26 to turn the tide
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