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

CBI Retail Sales Fell Faster Than Expected For The Second Month

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

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

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Henry Hub Trading Higher

NATURAL GAS

US Henry Hub is trading higher on the day, although has relinquished some earlier gains, as Middle East tensions, and higher LNG demand add support.

  • US Natgas NOV 23 up 0.2% at 3.38$/mmbtu
  • US Natgas APR 24 up 0.4% at 3.25$/mmbtu
  • US Natgas OCT 24 up 0% at 3.55$/mmbtu
  • US Natgas 1-2 spread down 0$/mmbtu at -0.27$/mmbtu

Demand for US LNG supplies may rise with uncertain Egypt export plans after gas production disruption due to the conflict in Israel. Feedgas flows to US LNG export facilities are today estimated at 13.3bcf/d according to Bloomberg with strong supplies to Sabine Pass and despite Cove Point LNG maintenance.

  • Feedgas intake into US LNG terminals has risen on the day to 4.856 bcf/d. Although below the 5.069 bcf/d registered Oct. 8, it remains the second highest daily intake since late April.
  • Domestic natural gas demand is holding above normal at 69.1bcf/d today according to Bloomberg with a mixed two week weather forecast. Below normal temperatures are expected in central and eastern areas in the 6-10 day period before warmer weather starts to spread in from the west into the second week of the outlook.
  • US domestic natural gas production was up to the highest since early September at 102.3bcf/d yesterday according to Bloomberg with output gradually recovering from slightly lower levels in recent weeks.
  • Export flows to Mexico are today estimated at 7.1bcf/d according to Bloomberg.
Energy BulletsCommodities
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