MNI BRIEF: China To Step Up Macroeconomic Policies - Politburo

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: 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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Mixed Outlook for Stocks Helps Buoy Haven FX

FOREX
  • Equity markets are mixed early Monday, with mainland European indices failing to carry on the stronger stocks theme from the Asia-Pac session. As a result, JPY is firmer so far this morning, higher than all others in G10 ahead of the NY crossover.
  • USD/JPY's weakness has been modest, however, with the pair still above first support at the Y109.82 50-dma.
  • Growth proxies including AUD, NZD and NOK are among the weakest, although AUD/USD is still well clear of last week's lowest levels. $0.7410 acts as the first key level.
  • There's little in the way of tier one data Monday, with focus on the beginning of US earnings season (a number of bulge bracket banks report from Tuesday onwards) with Fed's Kashkari also speaking at 1700BST/1200ET.
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