MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: PBOC Net Injects CNY57 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1315 Fri; -0.52% Y/Y

Intermediate PPI Deflation Continues To Fade in June

MNI: GERMANY JUNE PPI  +0.2 % M/M (+0.1% FCAST, 0.0% PRIOR)

Disappointing data but no market reaction

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

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Greenback Recovers Off Bottom, EUR/USD Nears Pivot Support

USD
  • Greenback reversing off the lowest levels of the session headed into the London close, although volume and activity in currency futures markets is thinning out headed through the various early closes.
  • Despite today's truncated sessions, futures volumes are faring pretty well, with EUR ECH4 posting 95% of the cumulative average for this time of day.
  • 15-minute candlestick chart shows 1.1002 as pivot support on any further intraday pullback, ahead of 1.0994.
  • More medium-term, moving average conditions continue to lean bullish, with the 50-dma narrowing in on the 200-dma pretty swiftly. The formation of a golden cross (50- crossing over the 200-dma) would be the first since this time last year, which presaged the upleg from ~1.06 to ~1.10.
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