MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

CHINA PBOC CONDUCTS CNY66.1 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1358 WEDS VS 7.1334

MNI BRIEF: China Wants U.S. Firms To Deepen Investment

MNI China Daily Summary: Tuesday, July 23

Market round-up post PMIs

PMIs indicate solid growth; less cost pressures from wage increases

MNI: UK JUL FLASH MANUFACTURING PMI 51.8 (FCST 51.0); JUN 50.9

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

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Equity futures are extending gains

CROSS ASSET
  • The Dollar was mostly overall flat against G10, Yen leads and was up 0.28%.
  • Post Cash Govie open, the yen is unchanged, still leads and up 0.28%, as Yields and Equities reverse Tuesday's price action.
  • Early focus is on the Estoxx (VGH4), which had fully reversed the US CPI sell off Yesterday.
  • VGH4 is now heading back to its contract high printed at 4766.00, now trading at 4755.00.
  • US Emini (ESH4) has now also reversed the US inflation data move, and eye a test to 5040.00 (Tuesday's high), followed by its contract high of 5066.50 printed on Monday.
  • The Pound is the worst performer, following a lower CPI Yesterday and a GDP miss this Morning.
  • Cable has now lost 236 pips from the US NFP high.
  • Despite the early pressure, GBPUSD has failed to break 1.2536, Yesterday's low, although better area of interest are seen at 1.2519 and 1.2500 (Dec low and lowest since November).
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