MNI: PBOC Net Drains CNY51.03 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1364 Tues; -1.28% Y/Y

CHINA PBOC CONDUCTS CNY216.27 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1364 TUES VS 7.1316

MNI China Daily Summary: Monday, July 29

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

Australia Jun Total Dwelling Approved -6.5%

MNI: AUSTRALIA MAY BUILDING APPROVALS -6.5% M/M, -3.7% Y/Y

MNI: AUSTRALIA JUN DWELLING APPROVALS -6.5% M/M

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

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Questions Over Speed Of Vaccine Rollout

SOUTH AFRICA

Summary:

  • The local currency sovereign curve has pushed higher with marginal steepening at the very long-end. Cash yields are 1-2bp higher. Last yields: 2-year 4.826%, 10-year 8.764%, 30-year 10.72%.
  • USDZAR pressured 14.63 before driving down to 14.57 in early European hours.
  • According to a Bloomberg, a coronavirus adviser to the government expects a slower vaccination roll out than currently planned (officially targeted 67% of the population by year-end).
  • There are no data points of note in today's calendar. The preliminary Markit PMIs for the US, published later today, provide a potential catalyst for price action in FX.
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