MNI China Daily Summary: Thursday, August 1

MNI: BOE VOTES 5-4 FOR 25 BPS RATE CUT AT AUG MEETING

MNI BRIEF: BOJ To Focus On Continued Positive Wage Setting

MNI BRIEF: CNB Cuts 2W Repo Rate By 25Bps To 4.5%

MNI BRIEF: Japan Q2 GDP To Rise 0.5% Q/Q; 2.2% Annualised

MNI BRIEF: China Retains Ample Policy Space In H2 – NDRC

MNI: US Q2 PREL UNIT LABOR COSTS +0.9% VS Q1 +3.8%; Y/Y +0.5%

MNI: US JOBLESS CLAIMS +14K TO 249K IN JUL 27 WK

VDMA Factory Orders Remain Weak in June

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

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*Aug16 Euro-dollar open $1.1735,.......>

EURO SUMMARY
EURO SUMMARY: *Aug16 Euro-dollar open $1.1735, range $1.1730 to $1.1746
*Euro opened in Asia toward the middle of the $1.1687 to $1.1793 range witnessed
yesterday, where after dropping to $1.1687 following strong US economic data,
demand in euro-yen surfaced to underpin the single currency.
*In what was a largely inactive session, euro-dollar rose from $1.1730 to
$1.1746 on euro-yen demand. Once that interest dried up consolidation became the
theme, the euro held a $1.1735 to $1.1742 range ahead of the European open.
*Initial resistance lies at $1.1748 (38.2% $1.1847-$1.1687 decline), a break
opens $1.1767 (50% on the same move), while support is found at $1.1689/87
(Aug9-15 lows).
*The session(s) ahead promises to be a much more active affair, Eurozone Q2 GDP,
US Housing Starts and Building Permits, followed by FOMC minutes towards the end
of the day.
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