MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Limited Reaction To Data

CNH

Offshore yuan holding losses after Chinese data but reaction fairly muted, USD/CNH up 94 pips at 6.4687.

  • GDP was the weak spot, Q2 GDP grew 7.9% Y/Y against estimates of 8% and down from 18.3% last time out. Retail sales, industrial production and fixed asset investment all beat estimates, but did slow from the May readings. Retail sales in particular were strong at 12.1% Y/Y against expectations of 10.8% which paints a positive picture of domestic demand.
  • The data doesn't immediately suggest that the economy needs support from the PBOC, which could point to liquidity concerns as the primary driver behind recent PBOC actions. This would concur with the recent warnings from CBIRC that NPL's may increase and that smaller banks should replenish capital.
EM BulletHomepageBulletMarketsEmerging Market NewsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.