MNI: PBOC Net Drains CNY51.03 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1364 Tues; -1.28% Y/Y

CHINA PBOC CONDUCTS CNY216.27 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1364 TUES VS 7.1316

MNI China Daily Summary: Monday, July 29

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: FRANCE Q2 FLASH GDP +0.3% Q/Q, +1.1% Y/Y

MNI: FRANCE JUN CONSUMER SPENDING -0.5% M/M, -1% Y/Y

Australia Jun Total Dwelling Approved -6.5%

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

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NEER Firms, USD/SGD Highest Since Mid-March, Mixed Apr Exports Print

SGD

The SGD NEER (per Goldman Sachs estimates) is firmer this morning, however we remain within recent ranges. We now sit ~0.9% below the upper end of the band.

  • USD/SGD printed its highest level since 20 March today, the pair is ~0.1% firmer and last prints at $1.3395/1.3405.
  • The pair has continued to tick away from its 20-Day EMA ($1.3333) after breaking above the measure last week. Bulls look to target highs from March 10 at $1.3576. Bears first target the low from 14 April at $1.3204.
  • April Export Data was firmer than estimates on the M/M printing at 2.7% vs -3.1% exp. The Y/Y print was a touch softer than expected at -9.8% vs -9.7% exp. More analysis of the print is here.
  • Looking ahead, next week we have the final print of Q1 GDP this is due between 22nd and 26th, also on Tuesday Apr CPI crosses. At this stage there is no estimates for either print.
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