MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

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

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

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OPEC+ Unlikely To Defend $80bbl Oil Price Floor: JP Morgan

OIL

JP Morgan estimated it is unlikely that OPEC+ will defend an oil price floor of $80/bbl but rather a lower price floor at $65-70/bbl, a from the bank said.

  • OPEC+ also has no longer the need to cut production quotas by 400kbpd this year, as the bank previously indicated, it said.
  • The bank continues to forecast an average Brent price of $90/bbl this year.
  • The overall market balances are looking tighter than before amid a stronger demand outlook, it adds.
Energy BulletsCommodities
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