MNI China Daily Summary: Thursday, August 1

MNI: BOE VOTES 5-4 FOR 25 BPS RATE CUT AT AUG MEETING

MNI BRIEF: BOJ To Focus On Continued Positive Wage Setting

MNI BRIEF: CNB Cuts 2W Repo Rate By 25Bps To 4.5%

MNI BRIEF: Japan Q2 GDP To Rise 0.5% Q/Q; 2.2% Annualised

MNI BRIEF: China Retains Ample Policy Space In H2 – NDRC

MNI: US Q2 PREL UNIT LABOR COSTS +0.9% VS Q1 +3.8%; Y/Y +0.5%

MNI: US JOBLESS CLAIMS +14K TO 249K IN JUL 27 WK

VDMA Factory Orders Remain Weak in June

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

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EUR/JPY has shed 40 pips and last sits.....>

EURO-YEN
EURO-YEN: EUR/JPY has shed 40 pips and last sits at Y120.20. After taking out
the Oct 31 low of Y120.29, it threatens to break under the psychological Y120.00
level. The rate has been pressured as JPY has garnered strength on the back of
uncertainty re: timing and location of the Trump-Xi summit to sign their
phase-one trade deal.
- Should the Sep 13 high & former breakout level at Y120.01 and the Y120.00
figure give way, bears would be able to focus on the 100-DMA at Y119.65. On the
topside, bulls need to reclaim the Y120.29 Oct 31 low to bring the 21-DMA at
Y120.55 into view.
- Key EZ data releases during the remainder of this week include German
industrial output and Italian retail sales, due later today, as wells as French
industrial output and German trade balance, due Friday. The ECB will publish its
Economic Bulletin in the London morning.
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