MNI: PBOC Net Drains CNY51.03 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1364 Tues; -1.28% Y/Y

CHINA PBOC CONDUCTS CNY216.27 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1364 TUES VS 7.1316

MNI China Daily Summary: Monday, July 29

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: FRANCE Q2 FLASH GDP +0.3% Q/Q, +1.1% Y/Y

MNI: FRANCE JUN CONSUMER SPENDING -0.5% M/M, -1% Y/Y

Australia Jun Total Dwelling Approved -6.5%

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

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EUR/PLN Briefly Pierces Key Support

PLN

EUR/PLN pierced support from May 30 low of PLN4.5599 and bottomed out at PLN4.5596, its worst level since Apr 6, 2022, as the Zloty continues to show strength. A clean breach of May 30 trough would allow bears to set their sights on levels last seen before the outbreak of Russia's full-scale invasion of Ukraine (Feb 16, 2022 low of PLN4.4826). When this is being typed, EUR/PLN trades -48 pips at PLN4.5674.

  • POLGBs are marginally mixed (-0.7bp to +0.7bp across the curve), with belly outperforming. The WIG20 index has added ~1.3%, with the WIGBANK up ~1.7% on the session. Banking stocks are under scrutiny after Bloomberg reported that the EU's top court may rule in a crucial case related to CHF loans sooner than expected.
  • The NBP is expected to keep interest rates unchanged on Wednesday. Governor Adam Glapinski's presser, scheduled for the following day, will be closely watched for any signs of shift in stance.
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