MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: PBOC Net Injects CNY57 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1315 Fri; -0.52% Y/Y

Intermediate PPI Deflation Continues To Fade in June

MNI: GERMANY JUNE PPI  +0.2 % M/M (+0.1% FCAST, 0.0% PRIOR)

Disappointing data but no market reaction

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

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MNI Commodity Weekly: Persistent Geopolitical Risks Fail to Push Oil Markets Out of Range

Executive Summary:

  • Oil Markets: The crude market focus switches to upside risks from a possible OPEC+ cut extension and geopolitical risks but still holds within the recent trading range. Gasoline margins have rallied amid tight supplies due to refinery outages.
  • *See summary of market analyst coverage. (Starts pg.3)
  • Gas Markets: European natural gas prices have rebounded this week amid slightly curtailed Norwegian supplies, while overall short-term fundamentals remained bearish with forecasts for mild weather and high gas inventories. US natgas prices have extended last week’s gains, supported by a dip in natural gas production. Global LNG benchmarks continued the bearish trend on muted demand. (Gas section start pg.7)
Full piece here:

MNI Commodity Weekly - Persistent Geopolitical Risks Fail to Push Oil Markets Out of Range.pdf

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Commodities Weekly AnalysisAnalysisCommodities

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