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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Muted Start, Domestic Markets Closed Today

NZD

NZD/USD prints at $0.6245/50 little changed in a muted start to Mondays trading. Liquidity will be affected due to the observance of a public holiday in New Zealand

  • Amid thin holiday volume on Friday NZD/USD marginally firmed through the European session.
  • Volatile price action was seen in the aftermath of the March NFP print from the US, whilst the headline unemployment rate ticked lower and Av Hourly Earning was a touch softer than expected.
  • NZD/USD was initially pressured to find support ahead of $0.62 and pared losses to finish the day unchanged.
  • Technically the pair is consolidating, bulls first target high from Apr 5 ($0.6379) whilst bears look to break $0.62.
  • On the wires this week we have March Card Spending (Wednesday) and March BusinessNZ Manufacturing PMI (Friday).
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