BRIEF: ECB's Panetta-Time To Start Thinking Of NGEU Successor

MNI China Daily Summary: Wednesday, Aug 21

MNI: PBOC Net Drains CNY111.2 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1307 Weds; +2.41% Y/Y

CHINA PBOC CONDUCTS CNY258 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1307 WEDS VS 7.1325

MNI: CANADA JUL INDUSTRIAL PRICES +0.0% MOM; EX-ENERGY -0.2%

US MBA: REFIS -15% SA; PURCH INDEX -5% SA THRU AUG 16 WK

MNI: US MBA: MARKET COMPOSITE -10.1% SA THRU AUG 16 WK

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

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MXN Proving Resilient Amid Broad Dollar Strength, Pemex Figures Due

MEXICO
  • The broad dollar strength following the FOMC press conference kept USDMXN well supported overnight, briefly breaching the year’s best levels above 20.80. However, despite a continuation of dollar buying and broad dollar indices up over 0.5% on Thursday, the Mexican peso trades resiliently and close to unchanged for the session against the greenback.
  • Trade balance data at the top of the hour:
    • Dec. Revised Trade Balance, est. $400,000, prior -$111.7m
  • Pemex to release December, full-year output and exports data.
  • President AMLO’s proposal to give control of Mexico’s electricity market to the state utility has scared away would-be green-energy investors at a rapid pace, the country’s wind and solar associations warn.
    • In addition to the $20 billion already invested in the country’s wind and solar sector, a further $10 billion will be required by 2024 to meet the country’s clean energy goals
    • But the pace of investment from international renewable-energy companies has slowed sharply while the power reform bill is debated in congress, putting Mexico behind in its push to transition away from dirtier fuels.
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