MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

CHINA PBOC CONDUCTS CNY66.1 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1358 WEDS VS 7.1334

MNI BRIEF: China Wants U.S. Firms To Deepen Investment

MNI China Daily Summary: Tuesday, July 23

Market round-up post PMIs

PMIs indicate solid growth; less cost pressures from wage increases

MNI: UK JUL FLASH MANUFACTURING PMI 51.8 (FCST 51.0); JUN 50.9

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

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Oil Holds Onto Weekly Gains Despite Banking Concerns

COMMODITIES
  • An intraday recovery in risk sentiment isn’t enough to stop crude oil prices falling for a second session after first sliding with a stronger USD as European bank stocks tumbled on the open.
  • Prices nevertheless hold for gains on the week after increasing strongly early in the week. Central bank and financial developments have played a key theme for the week as whole but there have also been idiosyncratic drivers such as Russia’s Novak on Tuesday saying it was looking at extending its production cuts to the end of June.
  • WTI is -1.1% at $69.17 having climbed off a low of $66.84 that briefly cleared $66.90 (Mar 21 low) after which lies the bear trigger at $64.36 (Mar 20 low).
  • Brent is -1.3% at $74.90, off a brief low of $72.70 that cleared $72.82 (Mar 21 low) to open the bear trigger at $70.12.
  • Gold is -0.7% at $1979.53, fading with USD strength, after a volatile week that has seen a particularly wide range of 1934.3-2009.7.
  • Weekly moves: WTI +3.7%, Brent +2.7%, Gold -0.5%, US nat gas -6.1%, EU TTF nat gas -4.1%.
Energy BulletsCommodities
Energy BulletsCommodities

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