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

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

MNI: UK JUN M4 MONEY SUPPLY +0.5% M/M, +1% Y/Y

Riksbank Shouldn’t Place Too Much Weight On The Q2 GDP Indicator

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

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Greenback and Japanese Yen Under Pressure With Firmer Risk Backdrop

EMERGING MARKETS
  • With major equity indices continuing to trade in a supportive manner, both the greenback and the Japanese yen have been under pressure in the G10 currency space with higher core yields also providing a JPY headwind.
    • AUD underperforms following the RBA decision and GBP remains the strongest performer after cable broke a confluence of resistance points between 1.2425-50.
  • Consumer expectations for eurozone inflation in coming months declined again in February, offering some comfort to European Central Bank policymakers concerned about the possibility of a wage-price spiral from elevated negotiated pay deals. Median expectations for inflation over the next 12 months fell to 4.6%, down from 4.9% in January, while the consumer outlook for inflation three years ahead edged down from 2.5% to 2.4%, the ECB's latest survey showed.
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