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 BOE JUN MORTGAGE APPROVALS 59,976

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

Riksbank Shouldn’t Place Too Much Weight On The Q2 GDP Indicator

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Equity Bounce Prompts Weakest JPY in Three Weeks

FOREX

For a second straight session, the JPY was the weakest performer Wednesday, falling against all others in G10 as markets looked to price in the longer-term odds of further fiscal stimulus in the US. Despite markets falling sharply Tuesday on Trump pulling the rug from under bipartisan talks, stock markets globally rallied as the President doubled down on his promise to conduct stimulus piece-by-piece, starting with direct payment checks, airline support and an extension of PPP. Markets weighed up the likelihood of this against an eventual Democratic victory in November, after which the odds of a larger spending package look far greater.

  • Conflicting signals over the progress of UK/EU trade negotiations kept intraday volatility in GBP/USD at elevated levels, with reports suggesting the UK negotiation team will walk away if no deal is made by October 15th. GBP was mixed, with 1.2787 100-dma providing some support from here.
  • Thursday sees the release of US weekly jobless claims and speeches from BoE's Bailey, ECB's Schnabel, de Guindos, de Cos & Mersch as well as BoC's Macklem, Fed's Rosengren & Bostic.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.