MNI BRIEF: China To Step Up Macroeconomic Policies - Politburo

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MNI: PBOC Sets Yuan Parity Higher At 7.1364 Tues; -1.28% Y/Y

CHINA PBOC CONDUCTS CNY216.27 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1364 TUES VS 7.1316

MNI China Daily Summary: Monday, July 29

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

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Baht Edges Higher, M'fing Sector Returns To Expansion

THB

Spot USD/THB gapped lower at the re-open, catching up with overnight greenback sales. The rate changes hands -0.065 at THB33.230 at typing.

  • A sell-off past trendline support drawn off Aug 31 low/Jan 20 low at THB32.880/32.822 would reignite bearish momentum. Bulls look for a clearance of Jan 10 high of THB33.747 before taking aim at Dec 22 high of THB33.835.
  • Thailand's manufacturing sector returned to expansion at the start to the year, according to the latest Markit PMI survey. The authors of the publication noted that "overall business optimism remained at a level above the survey average, even as some fears regarding the Omicron variant were reflected."
  • PM Prayuth chairs weekly Cabinet meeting, while BoT Gov Sethaput will speak at a briefing on the central bank's financial landscape consultation paper today.
  • Looking further afield, Thailand's CPI data will hit the wires on Friday. Headline inflation slowed to +2.17% Y/Y in December, but consensus forecast is pointing to a potential uptick in January.
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