MNI China Daily Summary: Wednesday, Aug 21

MNI: PBOC Net Drains CNY111.2 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1307 Weds; +2.41% Y/Y

CHINA PBOC CONDUCTS CNY258 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1307 WEDS VS 7.1325

China Repo Rates Rise On Tuesday

MNI: UK JUL PSNCR GBP19.23 BN

UK Public Sector Finance Due at 7:00 BST

August Exports On Solid Footing,  Country Detail Shows Double Digit Y/Y Pace

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

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EURHUF Edges Higher Monday Morning, Price Just Above 50-Day EMA

HUF
EURHUF has pared its earlier losses having approached the post-US NFP lows around 380.00 overnight. Price is currently just above the 50-day EMA at 381.22. That average had been providing firm resistance since mid-October but was breached last week, potentially signalling scope for a stronger recovery toward 384.23, the Nov 1 high. On the downside, key support has been defined at 375.62, the Nov 14 low, though that level remains some way off.
  • The local slate is thin for the remainder of the week with attention turning to the major central bank decisions later this week. Domestically, more news on the EU-funds front will be monitored following confirmation last week that a further EUR920m of aid will be disbursed.
  • Data on Friday showed headline inflation fell further in November, to 7.9%, roughly in-line with expectations, though concerns over the controversy of CPI calculations remain unresolved as the NBH’s final rate decision of the year enters focus. That decision is next week (Dec 19) with the pace of easing broadly expected to be maintained at 75bps.
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