MNI China Press Digest July 15: Consumption, Exports, FDI

MNI: PBOC Conducts CNY100 Bln Via 1Y MLF; Rates Unchanged

CHINA PBOC CONDUCTS CNY129 BILLION VIA 7-DAY REVERSE REPOS MON

MNI: PBOC Sets Yuan Parity Lower At 7.1313 Mon; -1.35% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1313 MON VS 7.1315

MNI BRIEF: China June M2 SlowsTo Record Low For Third Month

Q2 GDP Below Expectations, Consumer Side Still Appears Soft

CHINA JUN INDUSTRIAL OUTPUT +5.3% Y/Y VS MEDIAN +5.0% Y/Y: NBS

CHINA Q2 2024 REAL GDP +4.7% Y/Y VS MEDIAN +5.0% Y/Y: NBS

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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Budget Bill Expected To Be Presented, Iron Ore Extends Bounce

BRAZIL
  • Latest: *Bolsonaro Says He Hopes Brazil Precatorios Bill Is Approved (BBG)
  • A bill that makes room in Brazil's budget for President Bolsonaro administration's new social program is expected to be presented today.
  • The DI curve rallied back after Monday's selloff. Swap rates in the belly and long end fell close to 25 basis points as the currency also had a near 2% recovery from initial weak price action for BRL. USDBRL remains confined to the following range; 5.3885, Nov 11 low and the bull channel base intersection and the channel top at 5.7794.
  • Markets also await an opinion poll conducted by Modalmais and Futura Inteligencia survey on voting intentions for next year's October presidential elections, expected to be released in the afternoon.
  • Iron ore futures in Singapore extended their rally as concerns about some pollution curbs in China were offset by growing optimism on the demand outlook from the nation's real estate sector.
    • China's top economic official called for measures to stabilize house prices as the property market slowdown continues to weigh on the economy.
    • Iron Ore futures extended their winning streak to four days which is providing some support for the likes of Vale and a small reprieve for the Ibovespa index.
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