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

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

MNI: UK JUN M4 MONEY SUPPLY +0.5% M/M, +1% Y/Y

Riksbank Shouldn’t Place Too Much Weight On The Q2 GDP Indicator

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

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Kremlin-No Positive Prospects For Future Of Black Sea Grain Deal

WHEAT

Wires carrying comments from the Kremlin stating that it 'sees no positive prospects for the future of the Black Sea grain deal', adding that 'part of grain deal affecting Russia remain unfulfilled, [the situation] can't go on like this forever.' The Black Sea Grain Initiative could expire as soon as 17 July if Russia does not approve its extension.

  • Moscow's complaints have focused on the supposed inability of Russia to export fertiliser via Ukrainian ports due to damage to an ammonia pipeline running from Tolyatti in Russia to Odessa on the Ukrainian Black Sea coast. Since then, Odessa has been subjected to Russian missile attacks.
  • Should the grain deal fail to be renewed it would see food price inflation spike significantly in the MENA region - which relies heavily on Black Sea wheat - as well as sustaining high food price inflation in Europe due to the decrease of supply on the global grain market.
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EM BulletHomepagemarkets-real-timePolitical Market NewsPolitical RiskCommoditiesPolitical Risk BulletBulletEmerging Market News

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