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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Crude Futures and Spreads Fall With Risk of UAE Supply Increase

OIL

Crude futures and time spreads are falling on the risk of increased oil output after a report that UAE are internally debating whether to leave OPEC.

  • Front month Brent traded down to the first technical support at the 1 March low of 82.62$/bbl before bouncing back slightly.
  • Longer dated spread have seen a stronger reaction than the prompt although spreads were already drifting off from recent highs earlier today. The prompt spread was the highest since November at 0.69$/bbl yesterday.
    • Brent MAY 23 down -1.7% at 83.27$/bbl
    • WTI APR 23 down -1.8% at 76.75$/bbl
    • Brent MAY 23-JUN 23 down -0.1$/bbl at 0.56$/bbl
    • Brent JUN 23-DEC 23 down -0.35$/bbl at 2.55$/bbl
    • Brent DEC 23-DEC 24 down -0.58$/bbl at 4.37$/bbl
Energy BulletsCommodities
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