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

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EU Eyes Gas Price Float Mechanism

NATURAL GAS

The European Commission presented plans to contain high natural gas import prices by introducing a float mechanism to spread high gas costs over time, rather than introducing a price cap on natural gas import prices, according to Bloomberg sources.

  • The Commission is proposing an emergency package that would pave a way for a regulation to limit price spikes on the Dutch TTF, the main index benchmark for traded European gas, officials said during a meeting on Monday.
  • Executives signalled a price cap on natural gas import prices may not be the best tool to contain high prices.
  • EU energy ministers are scheduled to meet on 24 November to finalise a deal on the proposal.
Energy BulletsCommodities
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