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

Aircraft-Led Durables Collapse Masks Rebound In Core Orders

MNI: BELGIUM JUL BNB BUSINESS SURVEY -12.3

MNI: US Q2 GDP +2.8%

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

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India Diesel To Europe Boosted by

DIESEL

Diesel exports to Europe from India loaded in September reached an unprecedented high supported by the arbitrage to the West and a seasonal dip in domestic demand according to Reuters sources.

  • The increased supplies are supported by European efforts to build stocks ahead of the winter heating season. The demand from Europe is supporting Asian refining cracks to help mitigate a modest supply glut in the region.
  • The expectation is that the high volumes are unlikely to continue through October.
  • "This trade flow was mainly attributed to the opened arbitrage for India-origin cargoes to head West, with traders potentially preparing for the loss of Russian diesel barrels to Turkey as well due to the export ban," said Serena Huang at Vortexa.

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