MNI China Daily Summary: Wednesday, July 3

MNI BRIEF:BOJ Q1 Output Gap Hits 16th Negative Reading In Row

MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1312 WEDS VS 7.1291

MNI: US MAY TRADE GAP -$75.1B VS APR -$74.5B

MNI: US JOBLESS CLAIMS +4K TO 238K IN JUN 29 WK

MNI: CANADIAN MAY TRADE BALANCE CAD -1.9 BILLION

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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BOT Wednesday, China Official PMIs This Saturday In Focus

ASIA

The data calendar is reasonably light this week in EM Asia markets. Wednesday's BoT decision in Thailand is the highlight, while focus will also rest on Saturday's official PMI prints in China.

  • China: Industrial profits for August print on Wednesday, while Q2 BoP current account details are out on Thursday. Most focus is likely to rest on Saturday's official PMI prints for September. The manufacturing side is expected to firm to 50.2 from 49.7 prior, the services PMI to 51.5 from 51.0.
  • South Korea: Consumer confidence is out tomorrow, followed by the BoK sentiment readings for manufacturing and services on Wednesday. Note September trade data prints this coming Sunday. Also due at some stage this week is retail sales/department store sales.
  • Taiwan: The only release of note is the monitoring indicator, out this Wednesday.
  • Hong Kong: Trade data is out tomorrow, followed by retail sales on Friday, as well as money supply and the budget balance. All prints are for August.
  • Singapore: August CPI is out today, followed by August IP tomorrow.
  • India: Friday delivers fiscal deficit figures for August and the Q2 current account.
  • Indonesia: The data calendar is empty this week.
  • Thailand: The main focus is on Wednesday's BoT meeting, with a +25bps hike expected. August customs trade data is also due, while the August current account prints on Friday. Manufacturing IP for August is also out the same day.
  • Philippines: August bank lending prints on Friday.
  • Malaysia: Empty data calendar this week.
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