MNI: PBOC Net Drains CNY208.4 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1299 Thurs; +2.34% Y/Y

CHINA PBOC CONDUCTS CNY150.9 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1299 THURS VS 7.1216

MNI China Daily Summary: Wednesday, Aug 28

MNI: PBOC Net Injects CNY19.3 Bln via OMO Wednesday

Australia Q2 Total New Capital Expenditure -2.2%

EZ/UK Bond Supply Calendar: Slov Samurai Synd; IT, FI Thursday

US EIA: CRUDE OIL STOCKS EX SPR -0.85M TO 425.2M AUG 23 WK

UK: Week Ahead

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May CPI Data Marginally Beats Surveyed Estimates

MEXICO
  • Continued pressure on Core CPI, which rose to 7.28% in May will likely affirm analyst’s calls for more aggressive Banxico action at the June 23 meeting. Worth noting there will be one further mid-month inflation reading, just hours before the central bank will publish their decision.
  • USDMXN has been edging lower following Tuesday’s bounce as the pair continues to consolidate.
    • A bearish theme remains intact following the recent breach of support at 19.7274, Apr 4 low. This confirmed a resumption of a bear trend that began on Nov 26, 2021. The move lower opens 19.1560, the Mar 3, 2020 low.
  • Pemex met 53% of its debt maturities scheduled for 2022 during January to May, according to a presentation on the state oil company’s main operating results for that time period. (Bloomberg)
    • $1.8b of maturities met with Pemex’s own income and $2.2b met with federal govt contributions; $3.5b in 2022 maturities remain.
    • At end of April 2022, Pemex’s nominal debt decreased by $2.6b, according to the presentation.
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