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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Henry Hub Sees on the Day Rise

NATURAL GAS

Front month Henry Hub is trading higher on the day, supported by a rebound in flows to LNG facilities and yesterday’s force majeure at a compressor station in Texas.

  • US Natgas JAN 24 up 1% at 2.6$/mmbtu
  • US Natgas JUN 24 down -0.8% at 2.48$/mmbtu
  • Above normal temperatures still dominate the two-week forecast and the ECMWF forecast has risen its mean temperature forecast for the next week in the lower 48s states by around 1C.
  • Feedgas supplies to US LNG export terminals have rebounded on the day to 14.7 bcf/d, after a drop in feedgas at Calcasieu pass pushed total US feedgas intake to its lowest since late November.
  • US natural gas production was yesterday up slightly at 105.8bcf/d according to Bloomberg and in line with the previous week and well above levels around 100bcf/d this time last year.
  • Export flows to Mexico are today down slightly at 5.51 bcf/d according to Bloomberg.
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