MNI China Daily Summary: Tuesday, July 30

MNI BRIEF: China To Step Up Macroeconomic Policies - Politburo

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: EUROZONE Q2 PRELIM FLASH GDP +0.6% Y/Y

MNI: EUROZONE Q2 FLASH GDP +0.3% Q/Q

MNI: NORTH RHINE WESTPHALIA CPI +0.3% M/M, +2.3% Y/Y

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

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NZD/USD last deals at $0.6537, virtually.......>

KIWI
KIWI: NZD/USD last deals at $0.6537, virtually unchanged on the day.
- The rate operated within a tight, 15 pip range overnight. A dip to its session
low of $0.6528 touched around the Tokyo fix was followed by a leg higher to the
session highs, before the pair drifted back towards the neutral levels.
- NZD shrugged off the release of the latest NZ data. BusinessNZ m'fing PMI
edged higher, while PPI moved into negative territory.
- Worth noting that Chinese state media issued comments suggesting that Beijing
is not interested in resuming trade talks with the U.S. until Washington proves
its sincerity.
- The initial layer of support is provided by May 8 YTD low of $0.6527, which
limited losses overnight. A move through here would draw bearish attention to
the $0.6500 mark, last breached in Oct 2018. Conversely, bulls look to Monday's
weekly peak, which is situated at $0.6604.
- Trade balance, due Thursday, provides the focal point in terms of NZ data
releases next week.
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