MNI China Press Digest July 17:  Investment, LPR, H2 Priority

MNI BRIEF: NZ CPI Prints Lower Than Expected At 3.3% Y/y

MNI: PBOC Net Injects CNY268 Bln Via OMO Wed; Rates Unchanged

CHINA PBOC CONDUCTS CNY270 BILLION VIA 7-DAY REVERSE REPOS WED

MNI: PBOC Sets Yuan Parity Lower At 7.1318 Wed; -1.32% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1318 WED VS 7.1328

June Exports Miss, Electronic Exports Fall, Lagging Other Parts Of Asia

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August Retail Sales Due, USD Index Trades To Fresh Weekly High

MEXICO
  • Retail sales data for August is expected at the top of the hour (1200BST/0700ET):
    • Aug. Retail Sales MoM, est. 0.1%, prior 0.9%
    • Aug. Retail Sales YoY, est. 5.7%, prior 5.0%
  • The dollar trades firmer headed into Friday's NY session, reversing a brief bout of weakness that came just ahead of reports that China state banks were selling dollars to shore up the USD/CNY rate ahead of 7.25. The supposed intervention failed to reverse the tide, however, with the USD/CNY touching 7.2512.
    • The USD index has pushed on to the best levels of the week and above last Friday’s high to touch 113.50 in recent trade.
    • USDMXN, however, continues to trade in a range with key levels at 19.7533 and 20.5804 continuing to cap the price action.
    • Fed speakers in focus on Friday, with Williams and Evans on the docket today ahead of the beginning of the media blackout at the end of play today.
  • Separately, President AMLO will meet with US climate envoy John Kerry on Oct. 28 where he will present the “Sonora plan”, one of Mexico’s main strategies to generate clean energy, Milenio reported.
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