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

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

MNI: UK JUN M4 MONEY SUPPLY +0.5% M/M, +1% Y/Y

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

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Peso Lags On Philippine M'fing PMI Print

ASIA FX

Many Asian financial centres remained shut for Lunar New Year holidays, limiting liquidity in Asia EM FX space.

  • CNH: Offshore yuan remained comfortably within yesterday's range, as Lunar New Year holiday translated into a dearth of catalysts.
  • IDR: The rupiah appreciated sharply, catching up with recent greenback sales, as onshore Indonesian markets re-opened after a holiday. Bank Indonesia Gov Warjiyo reaffirmed familiar stance on policy outlook, before January data showed that CPI inflation accelerated to +2.18% Y/Y, in line with expectations.
  • PHP: The Philippine peso went offered as IHS Markit PMI data showed that expansion in the local manufacturing sector ground to a halt in January, owing to the surge in Covid-19 cases and the impact of typhoon Odette.
  • THB: Spot USD/THB clawed back its initial losses, albeit domestic headline flow failed to provide much in the way of notable catalysts.
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