MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

MNI: UK JUN M4 MONEY SUPPLY +0.5% M/M, +1% Y/Y

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

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Equities Roundup: Energy Shares Remain Strong, Autos Off Lows

US STOCKS
  • US stocks trading mostly higher in late afternoon trade, SPX Eminis bouncing off the post-ISM dip to around 4150.0, Dow stocks still outperforming (DJIA +312 at appr 33586), Nasdaq weaker but off lows at 12162.0 (-59.20).
  • Energy sector shares continue to outperform (+5.35%) after the OPEC+ production cut surprise announced late Sunday. Leaders: Marathon (MRO) +10.3%, Conoco-Philips (COP) +9.37%, APA +8.90%, Halliburton (HAL) +8.63%.
  • Autos still weaker, however, Toyota bouncing after weak sales figures while Tesla still underperforming: -6.32%.
  • Bullish conditions continue for Eminis. After breaching 4148.48 (76.4% of the Feb 2 - Mar 13 downleg) to 4156.75 high, a clear breach of this level would signal scope for an extension towards 4205.50, Feb 16 high ahead of 4244.00, Feb 2 high and a key medium-term resistance.
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