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

MNI: FRANCE Q2 FLASH GDP +0.3% Q/Q, +1.1% Y/Y

MNI: FRANCE JUN CONSUMER SPENDING -0.5% M/M, -1% Y/Y

Australia Jun Total Dwelling Approved -6.5%

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

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Rand Extends Losses, Electricity Output Contracts

ZAR

USD/ZAR has extended gains as a risk-off tone prevails in the FX space, with the Rand sitting at the bottom of the EMEA pile. Fresh gains for the pair came after the clearance of a notable trendline resistance flagged earlier and diverged from the generally sideways price action of the BBDXY index in the past couple of hours. The upswing was capped at ZAR18.2684 and the rate is ticking away from there, last changing hands at ZAR18.2325, up ~1,905 pips on the day.

  • South Africa's electricity output shrank 9.7% Y/Y in February after an 8.0% decline in January. Power consumption was down 8.7% Y/Y versus -7.3% prior.
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