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CHINA PBOC CONDUCTS CNY12.9 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1449 FRI VS 7.1460

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CHINA JULY FOOD PRICES +0.0% Y/Y VS -2.1% Y/Y JUNE

CHINA JULY CPI +0.5% Y/Y VS MEDIAN +0.3%; JUNE +0.2% Y/Y: NBS

MNI: FED BALANCE SHEET TOTAL ASSETS -$3B TO $7.175T IN WEEK

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E-Minis Lower Into The Cash Open

EQUITIES

The uptick in Tsy yields has helped bias S&P 500 e-minis lower ahead of the cash equity open, with the contract through yesterday’s late lows. It last trades -0.2% on the day.

  • China worry surrounding shadow banking and the property sector applied pressure in Asia-Pac hours, before a recovery from lows in early London trade.
  • An earnings-related pre-market bid in retailer target has done little for broader sentiment.
  • Technically, bearish conditions in the contract remain intact and short-term gains are considered corrective. 4,456.29, the base of a bull channel drawn from the Mar 13 low, has been breached, with the Jul 10 low at 4,411.25, providing the next level of support.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageEquitiesAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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