MNI China Daily Summary: Thursday, July 25

MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

CBI Price Expectations for Three Months Ahead Lowest Since December 2020

MNI: UK JUL CBI INDUSTRIAL TRENDS TOTAL ORDERS -32

Broad-Based IFO Weakness Reinforces Narrative of Recovery Stall

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

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Henry Hub Falls Amid Muted Domestic and LNG Demand

NATGAS

Henry Hub front month falls towards the low levels seen early last week amid muted demand, high storage levels and curtailed LNG exports to offset dropping production.

    • US Natgas MAR 24 down -6.3% at 1.56$/mmbtu
    • US Natgas AUG 24 up 0.1% at 2.48$/mmbtu
    • US Natgas FEB 25 down -0.3% at 3.53$/mmbtu
  • US gas production fell to 101.7bcf/d yesterday according to Bloomberg as the steady decline continues from as high as 105bcf/d at the start of February.
  • Lower 48 natural gas demand is estimated down again to the lowest since November at 74.75bcf/d according to Bloomberg. The recent decline in demand is falling quicker than the seasonal trend and now at the lower end of the previous five year range for the time of year.
  • Feedgas flows to US LNG export terminals are unchanged from yesterday at 13.7bcf/d according to Bloomberg with ongoing curtailed flows to Freeport and slightly below normal supply to Calcasieu Pass and Sabine Pass.
  • The latest weather forecast is relatively unchanged from yesterday as NOAA shows a split with warm weather in the east of the US and cold weather in the west throughout the 6-14 day period.
  • Export flow to Mexico is today at 6.1bcf/d according to Bloomberg.
Energy BulletsCommoditiesUS
Energy BulletsCommoditiesUS

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