MNI China Daily Summary: Thursday, July 18

MNI BRIEF: China To Upgrade Rural Land Reform: 3rd Plenum

MNI BRIEF: China's Third Plenum Eye's Deeper Financial Reform

MNI BRIEF: China Third Plenum Expands International Opening

MNI China Press Digest July 18: PBOC, Beijing, Arctic Shipping

MNI: PBOC Net Injects CNY47 Bln Via OMO Thurs; Rates Unchanged

MNI: EUROZONE MAY CONSTRUCTION OUTPUT -0.9% M/M, -2.4% Y/Y

UK private regular wage growth shows big drop in single month figures

TLFS transition delayed again

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

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Peso Firms A Tad Amid Light News Flow

PHP

Spot USD/PHP little changed on the day, last sits -0.030 at PHP48.125. A break above the 100-DMA at PHP48.267 would open up Apr 28 high of PHP48.475. On the flip side, a retreat under May 19 low of PHP47.769 would please bears.

  • USD/PHP 1-month NDF sits -0.040 at PHP48.220. May 14 & 17 lows of PHP47.820 provide the initial layer of support. On the topside, focus falls on May 25 high of PHP48.310, followed by the 100-DMA at PHP48.401.
  • Philippine BoP turned into a surplus of $2.61bn in Apr from a $73mn deficit recorded in Mar.
  • The Daily Inquirer cited Metropolitan Manila Development Authority (MMDA) chief as noting that regional mayors want Covid-19 restrictions eased further.
  • The Philippine Star noted that "several meat processors confirmed yesterday having reduced their production amid the tight supply of raw materials and high prices from available sources".
  • The DoH said that 85% of health workers have been vaccinated against Covid-19
  • The local economic docket is virtually empty during the remainder of this week.
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