MNI China Daily Summary: Monday, July 22

MNI BRIEF: PBOC Lowers Ceiling of Its Interest Corridor

MNI: China CFETS Yuan Index Down 0.05% In Week of Jul 19

MNI: PBOC Sets Yuan Parity Higher At 7.1335 Mon; -1.18% Y/Y

MNI: PBOC Conducts CNY58.2 Bln Via OMO Mon; 7day Repo Rate Cut

MNI BRIEF: PBOC Cuts 7-Day Repo Rate By 10bp

CBRT Data Watch

NBH Data Watch

Pay concerns push back easing expectations; curve flattens

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

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GBP/USD Stable Above Lows As BoE Presser Begins

GBP
Homepagemarkets-real-timeBulletMarketsForeign Exchange BulletsBank Of England (BOE) Market News
  • GBP/USD plumbed a new pullback low on the dovish interpretation of the 7-2 vote, the 1.6% 3-yr CPI forecast and Bailey's optimism that "things are moving in the right direction".
  • Rate slipped to 1.2448 before stabilising, while EUR/GBP rallies well back above the 200-dma, but still well short of the key 0.8645 resistance.
  • Markets watch for any commentary on the suitability of a June or August rate cut, on which Bailey notes a June Bank rate cut is "not ruled out, or planned".
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  • GBP/USD plumbed a new pullback low on the dovish interpretation of the 7-2 vote, the 1.6% 3-yr CPI forecast and Bailey's optimism that "things are moving in the right direction".
  • Rate slipped to 1.2448 before stabilising, while EUR/GBP rallies well back above the 200-dma, but still well short of the key 0.8645 resistance.
  • Markets watch for any commentary on the suitability of a June or August rate cut, on which Bailey notes a June Bank rate cut is "not ruled out, or planned".