MNI China Daily Summary: Wednesday, July 3

MNI BRIEF:BOJ Q1 Output Gap Hits 16th Negative Reading In Row

MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1312 WEDS VS 7.1291

MNI: US MAY TRADE GAP -$75.1B VS APR -$74.5B

MNI: US JOBLESS CLAIMS +4K TO 238K IN JUN 29 WK

MNI: CANADIAN MAY TRADE BALANCE CAD -1.9 BILLION

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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Drifting to their session lows

EQUITIES
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  • Small leg lower in the Emini, seems to be catching up with the Estoxx futures (VGM4).
  • Not seen any clear sudden catalyst, nor any standout orders in terms of flow.
  • Equity Desks, have not reported anything too obvious, with some desk likely looking to take some profit going into the US session.
  • The move in Emini is still fairly tiny, with the Index still trading in a 11 points range and still overall closer to its record high.
  • The pullback has been more noticeable in the Estoxx (VGM4), likely driven by orders flow.
  • Small support seen at 5047.00 has held, printed a 5047.00 low.
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  • Small leg lower in the Emini, seems to be catching up with the Estoxx futures (VGM4).
  • Not seen any clear sudden catalyst, nor any standout orders in terms of flow.
  • Equity Desks, have not reported anything too obvious, with some desk likely looking to take some profit going into the US session.
  • The move in Emini is still fairly tiny, with the Index still trading in a 11 points range and still overall closer to its record high.
  • The pullback has been more noticeable in the Estoxx (VGM4), likely driven by orders flow.
  • Small support seen at 5047.00 has held, printed a 5047.00 low.