MNI China Daily Summary: Tuesday, July 30

MNI BRIEF: China To Step Up Macroeconomic Policies - Politburo

MNI: PBOC Net Drains CNY51.03 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1364 Tues; -1.28% Y/Y

CHINA PBOC CONDUCTS CNY216.27 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1364 TUES VS 7.1316

MNI: EUROZONE Q2 PRELIM FLASH GDP +0.6% Y/Y

MNI: EUROZONE Q2 FLASH GDP +0.3% Q/Q

MNI: NORTH RHINE WESTPHALIA CPI +0.3% M/M, +2.3% Y/Y

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

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CLP May Be Buoyed By Copped Rebound, Mining Royalty Bill Vote Due

CHILE
  • The Chilean Peso came under significant pressure on Tuesday, leading losses among emerging market currencies after copper further retreated on the back of disappointing economic data from China. However, a near 1.5% bounce for the red metal may support the peso at the open despite the firmer USD index.
  • The medium-term trend direction remains down for USDCLP. A continuation lower and clear breach of 783.10, would expose the key bear trigger at 776.28, the Feb 3 low. Clearance of this level would confirm a resumption of the broader downtrend.
  • On Wednesday, Hacienda is scheduled to sell bonds in the local market: CLP100b ($125m) via the reopening of BTP 2050 peso bonds and 6m UF ($270m) via the reopening of a BTU 2050 bond.
  • The Chamber of Deputies is scheduled to begin the vote on the mining royalty bill at 3pm local time. Lithium miner SQM will report first quarter results after the close.
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