MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC CONDUCTS CNY50 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1268 Fri; -0.32% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1268 FRI VS 7.1270

MNI: BANXICO HOLDS INTERBANK RATE STEADY AT 11.00%

MNI BRIEF: Fed's Bowman Says Policy Appears To Be Restrictive

MNI: SWISS KOF JUN ECONOMIC BAROMETER 102.7

MNI: SPAIN JUN FLASH HICP +0.3% M/M, +3.5% Y/Y

MNI: FRANCE JUN HICP +0.1% M/M, +2.5% Y/Y

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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Brent Expected in  $85-$90/bbl Range With Growing Supply Deficit: UBS

OIL

Brent is expected in the $85-$90/bbl range over the rest of the year as the deficit in global oil markets is set to widen over the coming months according to UBS.

  • WTI is expected between $80-$85/bbl over the same period with an approximate 2mb/d shortfall seen in July and August compared with 0.7mb/d in June.
  • The deficit in September could be more than 1.5mb/d if Saudi Arabia extend voluntary cuts.
  • Demand growth continues to be driven by Asia, mainly China and India, while Brazil and Middle East demand also remains solid.
  • Technical are also supportive, momentum traders switching from short to long trades, and covering of elevated short futures and options positions.
Energy BulletsCommodities
Energy BulletsCommodities

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