MNI China Daily Summary: Thursday, July 25

MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

CBI Price Expectations for Three Months Ahead Lowest Since December 2020

MNI: UK JUL CBI INDUSTRIAL TRENDS TOTAL ORDERS -32

Broad-Based IFO Weakness Reinforces Narrative of Recovery Stall

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

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Pressure Extends, AUD/NZD Supported At $1.08

NZD

Early pressure on the NZD, as US equity futures fell after the WSJ reported that the US is considering new curbs on chip exports to China, has extended in recent dealing after a softer than forecast inflation print from Australia weighed.

  • NZD/USD prints at $0.6120/25, down ~0.6% today. The pair sits a touch above the support at the low from 23 June ($0.6117), a break through here opens the low from June 8 ($0.6031).
  • AUD/NZD is little changed, the pair was down ~0.4% in the aftermath of the Australian CPI print however it found support at $1.08 and pared losses.
  • Cross asset wise; BBDXY is up ~0.2% and e-minis are down ~0.2%. US Tsy Yields are little changed.
  • Looking ahead; on the wires tomorrow we have the ANZ Business Survey for June on the wires.
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