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

Australia Jun Total Dwelling Approved -6.5%

MNI: AUSTRALIA MAY BUILDING APPROVALS -6.5% M/M, -3.7% Y/Y

MNI: AUSTRALIA JUN DWELLING APPROVALS -6.5% M/M

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

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Mild Risk-On Flows Materialise But NOK & CAD Are Left Behind

FOREX

Mild risk-on flows have emerged across G10 FX space amid easing concerns over global monetary policy tightening. Recovery in market sentiment may have been aided by an FT report noting that France sees Russian President Putin moving towards de-escalating Ukraine tension, following his bilateral meeting with Emmanuel Macron.

  • The yen has landed at the bottom of the G10 pile, while the Antipodeans lead gains. Nonetheless, CAD and NOK have struggled to find poise, as crude oil prices have slipped.
  • Spot USD/CNH has been rangebound, with the yuan reference rate's deviation from broader expectations back to more normal levels, after yesterday's sizeable upside surprise.
  • U.S. trade balance headlines today's light data docked, while comments are due from ECB's Villeroy & de Cos.
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