MNI China Daily Summary: Friday, July 5

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

MNI BRIEF: BOJ Consumption Activity Index Flat M/M In May

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

MNI: EUROZONE MAY RETAIL SALES +0.1% M/M, +0.3% Y/Y

Retail Trade Broadly In-Line With Consensus

Weak manufacturing in France and Germany in May; energy production up

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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NZ On Holiday Ahead Of Prime Minister's Policy Statement

NZD

NZD/USD treads water at the start to the new week, with New Zealand markets shut in observance of Waitangi Day. The rate trades at $0.6615, with bears looking for a slide through Jan 28 low of $0.6530 towards Sep 24, 2020/Aug 20, 2020 lows of $0.6512/0.6489. Bulls look to a move through Feb 4 high of $0.6684, which would open up former support area located at $0.6702/03.

  • Focus turns to 2-year inflation expectations (Wednesday) as well as BusinessNZ M'fing PMI & card spending (Friday).
  • Separately, the parliamentary year will open on Tuesday, with PM Ardern due to present a policy statement to the House. Note that the address typically lacks details and is fairly broad in scope.
  • Elsewhere, RBNZ Gov Orr will speak on the "Future of Money" on Tuesday, but the Reserve Bank themselves suggested that the address is unlikely to have any market impact.
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