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

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FOREX SUMMARY

FOREX

An impressive afternoon session for the Pound, recovering the whole of today;s losses led by the USD.

  • Broad base USD selling was noted, with S&P futures pushing higher, ahead of the US cash open.
  • USD tested low against EUR, CAD, CNH, AUD, CHF, PLN, SEK, SGD, MXN, ZAR.
  • EUR got a boost following headlines that "ECB forecast said to show more confidence in Economic outlook".. All eyes on ECB tomorrow.
  • EMFX and particularly the ZAR had a 36 wide big figure session, and the Rand pared all of yesterday's losses against the Dollar.
  • USDZAR traded through 16.6944 low, with option expiries acting as a magnet.We had 16.65 (220mln) and 16.70 (415mnl), going into the expiry at 15.00BST.
  • BoC kept their rates unchanged at 0.25% as expected by most survey, very little revealed.
  • USDCAD is down 0.38% against the Greenback at 1.3172.
  • Looking ahead, sees Russian Prelim GDP, but most of the focus turns to Brexit presser and ECB tomorrow
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