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

CBI Retail Sales Fell Faster Than Expected For The Second Month

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

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

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Aussie Regains Poise On Tuesday

AUD

The round figure/38.2% retracement of the Jan 28 - Apr 5 rally at $0.7400/0.7396 provided a layer of support for AUD/USD on Tuesday. The rate bounced off there as Australian NAB Business Confidence improved, crude oil prices soared and U.S. core CPI rose slightly slower than forecast. The pair snapped a four-day slide as a result.

  • AUD/USD trades flat at $0.7456 at typing. Bulls look to a move through $0.7519, which capped gains on Apr 7. Conversely, a retreat under $0.7400/0.7396 would shift focus to Mar 22 low of $0.7376.
  • Local news flow remains centred around the ongoing election campaign.
  • Participants will be on the lookout for any trans-Tasman spillover following the release of RBNZ monetary policy review. In the meantime, monthly Westpac Consumer Confidence will take focus at home.
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