MNI: PBOC Net Drains CNY51.03 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1364 Tues; -1.28% Y/Y

CHINA PBOC CONDUCTS CNY216.27 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1364 TUES VS 7.1316

MNI China Daily Summary: Monday, July 29

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: FRANCE Q2 FLASH GDP +0.3% Q/Q, +1.1% Y/Y

MNI: FRANCE JUN CONSUMER SPENDING -0.5% M/M, -1% Y/Y

Australia Jun Total Dwelling Approved -6.5%

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

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Koruna Remains Afloat, Czechia's Budget Deficit Deepens

CZK

EUR/CZK has moved lower and last trades -0.024 at CZK23.699, with bears looking for losses past May 26 low of CZK23.588 and towards May 9 low of CZK23.340. On the flip side, bulls look for gains past May 19/May 28 highs of CZK23.797/23.820.

  • Czechia's budget deficit widened to a new record of CZK271.4bn in May from CZK200.0bn in April. It was CZK16bn more than in May 2021, at the height of the COVID-19 crisis. Meanwhile, Denik N reported that the Finance Ministry expects budget deficit in 2024 to be CZK235bn, down from the CZK295bn planned for this year.
  • Czechia's S&P Global Manufacturing PMI remained at 42.8 in May, beating expectations of a downtick to 41.5, with the commentary noting that "firms cut their selling prices for the first time in just over two-and-a-half years, and at a solid pace."
  • The CNB will announce the outcomes of its quarterly meeting on financial stability during a press conference at 14:45BST/15:45CEST. These include decisions on whether to adjust the countercyclical buffer and macroprudential settings.
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