MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

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CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

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MNI: FRANCE JUL MANUF SENTIMENT AT 95

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

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CBI Retail sales fall further as downturn enters its sixth month:

UK DATA
  • UK CBI volume of sales fell to -36 (vs -14 prior), but remains above cycle lows of -44 seen in August.
  • The expectations component for November also declined to -13 (vs -8 prior), however this is also above levels seen in the summer.
  • Retailers also reported stock as "too high" relative to expected sales in October.
  • CBI Principal Economist said: "As the festive period approaches… cost-of-living concerns and higher interest rates weigh on consumer spending," despite slowing inflation.
  • The fall in sales is in part due to internet sales volume falling at the fastest rate on record at -78% (vs -3% prior).
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