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

BoJ Data Watch

Fed Data Watch

CBI Retail Sales Fell Faster Than Expected For The Second Month

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

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ING Remain Positive on MXN

MEXICO
  • ING are still very positive on the Mexican peso, noting that 11% implied yields in the currency are still too attractive to miss out on, despite mounting headline risk from the possibility of a Trump presidency. Ahead of tomorrow’s Banxico interest rate decision, they note that Mexico currently has very high real rates, of around 6% using current inflation. In their view, the possibility of a slightly earlier-than-expected rate cut tomorrow, which some analysts are forecasting, would do little to change that.
  • USDMXN continues to trade below 17.3860, the Jan 17 high and remains over 1% below its peak from earlier this week, close to initial support around the 17.00 handle. Key support and the bear trigger, lies at 16.7852, the Jan 8 low.
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