MNI: PBOC Net Injects CNY674 Bln Via OMO Tue; Rates Unchanged

MNI China Press Digest July 16: LPR, Q2 Data, Property

MNI: PBOC Sets Yuan Parity Higher At 7.1328 Tue; -1.79% Y/Y

CHINA PBOC CONDUCTS CNY676 BILLION VIA 7-DAY REVERSE REPOS TUE

CHINA SETS YUAN CENTRAL PARITY AT 7.1328 TUE VS 7.1313

MNI BRIEF: Fed's Powell Says Neutral Rate Has Likely Risen

Asia Sovs Little Changed, BI Rate Decision Wednesday

Multiple Factors Likely To Keep Chip Exports Supported In Coming Months

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Peso Trades Flat, BoP Flips Into Surplus

PHP

Spot USD/PHP is treading water, last trades flat at PHP52.455. Should the rate manage to punch through the PHP52.500, bulls could take aim at Aug 15, 2019 high of PHP52.620. On the flip side, bears need a retreat under Apr 13 low of PHP51.875 before setting their sights on Apr 5 low of PHP51.149.

  • USD/PHP 1-month NDF last -0.020 at PHP52.630. Bears keep an eye on Apr 13 low of PHP52.020, while topside focus falls on Mar 14 high of PHP52.940.
  • The Dept of Health announced that the government looks to launch the rollout of second Covid-19 booster jabs for select sectors as soon as within "one to two weeks."
  • The Philippine BoP flipped into a surplus of $754mn in March from a $157mn deficit recorded in February.
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