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

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BBG Antitrust Source Piece Weighed Against Familiar Matters

FOREX

The greenback has sold off (though the DXY is yet to re-visit yesterday's low), even as a BBG sources piece noting that a U.S. House panel is set to recommend an overhaul of the national antitrust law applied some light pressure to e-minis. That said, it seems that optimism surrounding U.S. President Trump's relatively quick release from hospital may have continued to dent USD.

  • Early gains in AUD/JPY have been arrested by the aforementioned BBG antitrust piece and the rate has retreated towards neutral levels.
  • Above-forecast south Korean CPI figures allowed USD/KRW to have a brief look below a key support level and print its worst level since Jan. The move through a previous cycle low was marginal and very brief, but the pair continues to hover just above there.
  • USD/CNH has edged higher after sliding to a fresh YtD low yesterday.
  • A double act from Team Australia (RBA decision & federal FY20/21 Budget) headline in Asia today, with China still off for holidays. Australian ANZ job ads & trade balance, U.S. & Canadian trade figures, German factory orders and comments from a fair number of Fed & ECB speakers (including their chiefs) take focus later in the day.
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