MNI China Daily Summary: Wednesday, July 31

MNI BRIEF: BOJ To Raise Further, No Clues on Timing - Ueda

MNI BRIEF: BOJ's FY26 Inflation View Flat; Upside Risk To FY24, 25 Prices

MNI: PBOC Net Injects CNY185.57 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1346 Weds; -1.39% Y/Y

MNI BRIEF: China July PMI Contracts For Third Straight Month

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

Flash Inflation In-Line With Tracking; Services Softens But Only Slightly

MNI: EUROZONE JUL FLASH HICP +2.6% Y/Y

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

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Peso Tad Softer In Line With Regional Trend

PHP

Spot USD/PHP trades +0.085 at PHP55.410, still within the confines of yesterday's range. From a technical perspective, bulls look for an advance towards record highs at PHP56.500, while bears keep an eye on the 50-DMA at PHP54.575.

  • USD/PHP 1-month NDF last +0.020 at PHP55.510. Topside focus falls on Jul 28 high of PHP56.060, a break here would expose the ATH at PHP56.740. Bears look for a sell-off past Jun 28 low/50-DMA at PHP54.740/54.712.
  • Overseas investors were net sellers of Philippine shares on Monday, shedding net PHP288.4mn worth of stocks. Still, the benchmark PSEi Index clawed back losses into the close, with topside momentum carrying over into the next trading session. The PSEi last sits at 6,334 (+0.35%) with the index struggling to break above its descending 50-DMA.
  • Philippine Statistics Agency will publish the latest CPI report this Friday. Headline inflation is expected to have stayed at +6.1% Y/Y in July, according to Bloomberg consensus forecast.
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