MNI: PBOC Net Drains CNY208.4 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1299 Thurs; +2.34% Y/Y

CHINA PBOC CONDUCTS CNY150.9 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1299 THURS VS 7.1216

MNI China Daily Summary: Wednesday, Aug 28

MNI: PBOC Net Injects CNY19.3 Bln via OMO Wednesday

Flows Into Offshore Bonds Still Modest By Historical Standards, Hedging Costs Coming Down

Australia Q2 Total New Capital Expenditure -2.2%

EZ/UK Bond Supply Calendar: Slov Samurai Synd; IT, FI Thursday

UK: Week Ahead

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Peso Bounces From Worst Levels Since Mar 2020

PHP

Gains in spot USD/PHP were capped at PHP51.500, the highest level since Mar 18, 2020 and the rate has pulled back from there. It now changes hands -0.056 at PHP51.423, with bears looking for further losses past Jan 12/5 lows of PHP50.955/50.900. Conversely, a clearance of PHP51.500 would shift focus to Mar 18, 2020 high of PHP51.823.

  • USD/PHP 1-month NDF last seen -0.120 at PHP51.780. Bears eye Jan 12 low of PHP50.860 for initial support, while bulls look to a move through Jan 4 high of PHP52.140.
  • Daily Covid-19 cases fell for the first time in six days on Tuesday but the Dept of Health informed that five testing labs did not submit data on time. Meanwhile, a health official said that Omicron cases have been detected in 15 of 17 areas in Metro Manila and 13 of 17 regions in the country.
  • The Philippines' overall BoP for the month of December may hit the wires at some point today.
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