MNI China Daily Summary: Monday, July 1

MNI BRIEF: PBOC To Borrow CGBs In Response To Market Situation

MNI BRIEF: Caixin June Manufacturing PMI Hits Three-year High

MNI: PBOC Net Drains CNY48 Bln Via OMO Mon; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

MNI: US MAY CONSTRUCT SPENDING -0.1%

MNI: US ISM JUN MANUF PURCHASING MANAGERS INDEX 48.5

US JUNE MANUFACTURING PMI 51.6 (51.7 FLASH, 51.3 MAY)

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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JPY On The Front Foot, Markets Slightly Defensive

FOREX

While the Thanksgiving holidays in the US has sapped some energy from markets today, there is a defensive feel so far, with JPY outperforming slightly and the greenback modestly higher.

In Sweden, the Riksbank opted to expand their QE programme by more than expected, adding an additional SEK 200bln of purchases. SEK was sold in response, prompting a 0.4% rally in EUR/SEK - although the majority of the move has since retraced.

Given the US holidays, it's likely the rest of the Thursday session will be muted, with no tier one releases on the docket. The central bank speakers slate could be of more interest, with ECB's Lane & Schnabel, BoC's Wilkins & Macklem all due.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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