MNI: PBOC Net Injects CNY8 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1196 Fri; -1.41% Y/Y

CHINA PBOC CONDUCTS CNY10 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1196 FRI VS 7.1192

MNI China Daily Summary: Thursday, June 20

MNI: PBOC Net Injects CNY18 Bln Via OMO Thu; Rates Unchanged

Japan May Core CPI +2.5% Y/Y; Energy Price Surges

MNI BRIEF: Japan May Core CPI Rises 2.5% Vs. April +2.2%

MNI JAPAN MAY CORE CPI +2.5% Y/Y; APRIL +2.2%

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Gas Market Highlights

NATURAL GAS

TTF extended the pull back seen yesterday with supply fundamentals relatively unchanged despite the risks to Russian and LNG flows which had led the previous rally. High storage levels and low industrial demand are providing downside pressure.

  • TTF AUG 23 down -3.39% at 28.5€/MWh
  • TTF WIN 23 down -0.63% at 48.2€/MWh
  • Shell CEO Wael Sawan sees Europe in a good place heading into this winter with Europe’s gas storage expected to surpass 90% full if we continue the current trend.
  • US Henry Hub extends losses after updated EIA storage data showed a build approximately in line with expectation but below normal.
  • US Natgas AUG 23 down -5.78% at 2.51$/mmbtu
  • The latest EIA weekly gas inventories for the week ending 21 July showed a build of +16bcf compared to expectation of a +15bcf build and the 5-year average for this time of year of +32bcf.
  • US LNG exports July 27 were down 1.1% on the day at 12.11 Bcf/day, the lowest daily export rate since July 12. Cove Point exports remain reduced at 0.58 bcf/day, after a pipeline fire reduced its feedgas
  • EU Approves Germany's Aid For Brunsbuttel LNG Terminal
  • China Expects 2023 Annual Gas Demand to Grow by 7%
  • LNG - An increase in spot LNG prices in Asia could hamper Chinese LNG imports from Aug-Oct, according to ENN.
  • Russian Gas Production in H1 down 14.9% on the year
  • Austria gas storage obligations will be difficult to enforce because no system exists to certify whether gas is of Russian origin according to Argus sources.
    • Energy BulletsCommodities
    Energy BulletsCommodities

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