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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Equity Roundup: Inside Range

US STOCKS
Stocks drifting around steady to marginally weaker levels Monday, near nd of narrow session range on quiet week opener. Generally quiet summer trade with many accts sidelined ahead this Fri's July employment report.
  • Currently, SPX eminis trade -12.25 points (-0.3%) at 4120.5; DJIA -11.91 (-0.04%) at 32828.85; Nasdaq -16.2 (-0.1%) at 12373.58. Stocks gained with rates earlier on data headwinds for rate hikes: Substantial fall was seen in the ISM prices paid index, which plunged 18.5 points to 60.0, the lowest since August 2020; June construction spending declined -1.1% vs. +0.1% est.
  • SPX technicals: Stocks reinforced bullish conditions and maintaining the current price sequence of higher highs and higher lows. Potential is for a climb towards 4204.75, the May 31 high. On the downside, initial trend support has been defined at 3913.25, the Jul 26 low. A break would highlight a possible early bearish reversal signal.
  • SPX leading/lagging sectors: Consumer Stales (+1.4%) lead by household and personal products, Consumer Discretionary (+0.80) as retailing outpaced autos (car sales reported through Tue' session). Laggers: Energy (-2.94%) as crude sells off (WTI-4.78 at 93.84), Financials (-0.92%), Materials (-0.89%).
  • Dow Industrials Leaders/Laggers: Boeing (BA) +10.52 at 169.83, Home Depot (HD) +5.90 at 306.84, Proctor and Gamble (PG) +4.45 at 143.36. Laggers: United Health (UNH) -6.13 at 536.21, Chevron (CVX) -3.96at 159.82, Caterpillar (CAT) -3.17 at 195.08 after making strong gains Friday.
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