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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Price Caps Forcing Russia to sell at discounts: Hochstein

OIL

The G7 price cap on Russian crude and products are working well, forcing Russia to offer discounts according to US Energy Envoy Amos Hochstein.

  • "I think the beauty of the process is that it is working and that Russian oil and Russian products are being traded below the price cap," Hochstein said.
  • "I don't know why Russia is cutting their production," he said. "I think the price has not gone up that much. We want to make sure that Russian barrels are on the market and are trading at a discount." he added.
  • US officials have said they are happy for countries not part of the sanctions to import Russian oil - as long as it was below the price caps.
Energy BulletsCommodities
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