CANADA JUNE JOBS -1.4K VS FORECAST +20K, PRIOR +26.7K

MNI China Daily Summary: Friday, July 5

MNI BRIEF: PBOC Plans To Borrow Hundred Bln Yuan CGB - Press

MNI: PBOC Net Drains CNY48 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1289 Fri; -0.35% Y/Y

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

CANADA JUN IVEY PURCHASING MANAGERS INDEX 62.5 SA

MNI: BLS: NET PAYROLLS REVISIONS FOR MAY, APRIL -111K

US JUN AVERAGE HOURLY EARNINGS +0.3% Vs MAY +0.4%; +3.9% YOY

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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MNI POLITICAL RISK - Govt Shutdown Risk Averted, Biden-Xi Bilat

US
  • At 14:00 ET 19:00 GMT today, President Biden will cap months of intensive diplomacy when he meets Chinese President Xi Jinping for a bilateral meeting on the margins of the APEC Leaders' Summit in San Francisco, California.
  • With few concrete deliverables on the cards, the bilat will primarily function as a checkpoint to dial back tensions which followed then-Speaker Nancy Pelosi's (D-CA) trip to Taiwan in August last year and subsequent diplomatic fallout over the Chinese 'spy balloon' in January.
  • The House of Representatives yesterday passed House Speaker Mike Johnson’s (R-LA) two-tiered Continuing Resolution to fund the government and prevent a government shutdown on November 17.
  • Johnson will have until January/February to legislate his Fiscal Year 2024 bills but there are clear warning signs that the next showdown will be more severe and carry greater risk of a prolonged government shutdown.
  • US Secretary of State Antony Blinken met yesterday with his Japanese and South Korean counterparts at APEC, building on a major foreign policy goal of the Biden administration which may increase security risks in the Indo-Pacific.
  • US President Joe Biden touted "progress" in bringing down inflation in a statement on yesterday’s CPI report but voters are unlikely to be sold on 'Bidenomics.'
  • House Speaker Mike Johnson's (R-LA) has endorsed Donald Trump for president in 2024.
  • Poll of the Day: The partisan divide over US security assistance to allies at war.
Full article: US Daily Brief
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