MNI China Daily Summary: Friday, Aug 23

MNI: PBOC Net Injects CNY241.5 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Fri; +2.17% Y/Y

CHINA PBOC CONDUCTS CNY379.3 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1358 FRI VS 7.1228

MNI: PBOC Sets Yuan Parity Lower At 7.1228 Thurs; +2.24% Y/Y

MNI: CANADIAN JUN RETAIL SALES -0.3%; SALES EX-AUTOS/PARTS +0.3%

Firmer Than Expected Inflation Expectations And Softer Growth

MNI: ECB 1-YEAR CONSUMER INFLATION EXPECTATIONS 2.8%

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

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FRANCE DATA: French Manufacturing Sentiment Rebounds Above Expectations

FRANCE DATA
Data BulletEurozoneCEEMEAFranceBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

French Manufacturing Sentiment exceeded expectations printing at 99 in August (vs consensus 96 and prior of 95), returning to June levels after falling to the lowest level since December 2020 in July.

  • The metric remains a touch below its long term average of 100 and below the pre-covid (2014-19) average of 103.7.
  • The data contracts with yesterday's flash PMI data, which showed a deeper rate of contraction for the manufacturing sector.
  • The graph below shows that the French services sentiment indicator released by Insee also rebounded in August after hitting the lowest level seen since 2021 in July. The bounce in services sentiment was shallower, with the measure also remaining below the pre-covid average of 100.5 (2014-2019).
  • Responses for this survey were collected between July 26 and August 20.

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French Manufacturing Sentiment exceeded expectations printing at 99 in August (vs consensus 96 and prior of 95), returning to June levels after falling to the lowest level since December 2020 in July.

  • The metric remains a touch below its long term average of 100 and below the pre-covid (2014-19) average of 103.7.
  • The data contracts with yesterday's flash PMI data, which showed a deeper rate of contraction for the manufacturing sector.
  • The graph below shows that the French services sentiment indicator released by Insee also rebounded in August after hitting the lowest level seen since 2021 in July. The bounce in services sentiment was shallower, with the measure also remaining below the pre-covid average of 100.5 (2014-2019).
  • Responses for this survey were collected between July 26 and August 20.