MNI China Daily Summary: Thursday, July 4

MNI BRIEF: China Has Four Months To Negotiate EU EV Agreement

RPT-MNI INTERVIEW: ISM Choppiness Not A Clear Signal For Worry

MNI: PBOC Net Drains CNY98 Bln Via OMO Thurs; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1305 Thurs; -0.79% Y/Y

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

Factory Orders Decline as Non-EU Orders Dip

DMP survey increases probability of August cut

MNI: UK JUNE CONSTRUCTION PMI 52.2 (FCST: 54.0); MAY 54.7

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 - White House Set For Pivot To The Economy

US
  • Senate Minority Leader Mitch McConnell (R-KY) yesterday downplayed comments he made at a private meeting on Wednesday which appeared to suggest that former president Donald Trump’s political priorities for 2024 could undermine negotiations on border security.
  • The White House appears set for a pivot to the economy after yesterday’s ‘blockbuster’ GDP report provided more evidence that the US can avoid recession and stick a soft landing.
  • CIA Director William Burns has been dispatched to Europe for a meeting with Israeli, Egyptian, and Qatari officials to discuss a major deal which could see hostages exchanged in return for an extended ceasefire between Israel and Hamas.
  • The Biden administration is enacting a pause on the approval of new LNG exports. As the measures affect only unpermitted projects, and aren’t slated to come online for years, the immediate effect to US LNG exports would be limited. The move suggests that Biden is plotting a return to some of the policy positions - derailed by the Russian invasion of Ukraine - which helped deliver the White House in 2020.
  • White House National Security Advisor Jake Sullivan will meet top Chinese diplomat Wang Yi today and tomorrow in Bangkok, Thailand with Red Sea security likely on the agenda.
  • President Biden will host Japanese Prime Minister Fumio Kishida at the White House for a State Dinner on April 10.
  • US officials have warned of growing tensions on the Korean Peninsula.
  • Poll of the Day: Americans' views on the economy are showing signs of improvement.
Full article: US Daily Brief
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Metals bulletEM BulletHomepagePolitical Market NewsBank of Japan (BOJ) Market NewsCommoditiesEmerging Market NewsEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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