MNI China Press Digest July 18: PBOC, Beijing, Arctic Shipping

MNI: PBOC Net Injects CNY47 Bln Via OMO Thurs; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1285 Thurs; -1.29% Y/Y

CHINA PBOC CONDUCTS CNY49 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1285 THU VS 7.1318

MNI BRIEF: China Equip't Renewal Policy Includes Foreign Firms

Australia Jun Unemployment Rate 4.0%

Japan Jun Exports +5.4% Y/Y; Imports +3.2% Y/Y

MNI:AUSTRALIA JUN UNEMPLOYMENT RATE +4.1%

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

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Koruna Rangebound In Pre-Holiday Trade

CZK

EUR/CZK trades -0.005 at 25.292, struggling for clear direction as pre-Easter local headline flow fails to provide any notable catalysts. The rate continues to hover above the 50-DMA (25.175), which limited losses on Mar 18. A move through that moving average and the round figure of 25.000 would expose Jan 2 high of 24.867. Conversely, bulls look for an upswing towards 25.519.

  • Denik N reported that extra spending requests from individual ministries amount to more than CZK40bn compared with the current budget deficit target of CZK252bn. The ruling coalition is preparing for "difficult negotiations" on the distribution of funds between various ministries.
  • The PX Index has surged past the psychologically significant 1,500 threshold, adding 1.1% so far and printing its best levels since 2008.
  • Looking ahead, Czechia will release final Q4 GDP data tomorrow morning.
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