MNI BRIEF: China To Step Up Macroeconomic Policies - Politburo

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: SPAIN JUL FLASH HICP -0.7% M/M, +2.9% Y/Y

MNI: SPAIN Q2 FLASH GDP +0.8% Q/Q, +2.9% Y/Y

MNI: SWISS KOF JUL ECONOMIC BAROMETER 101

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

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Rand Loses Ground, Lags Behind EMEA Peers

ZAR

Spot USD/ZAR snaps a three-day losing streak and last changes hands at 18.9274, just over 400 pips higher on the session. Bulls look for gains past Feb 14/Jan 22 highs of 19.1912/19.2180, while bears see Feb 2/Jan 12 lows of 18.5578/18.5385 as their initial target.

  • SAGB yields are a touch higher across the curve, with 10-year breakeven inflation rate last seen at 6.43%. The composite BBG Commodity Index has added 0.7%, with the precious metals subindex up 0.9% at typing.
  • SARB Governor Kganyago reaffirmed his familiar hawkish views, noting that "the job of taming inflation is not yet done." Separately, Mampho Modise has been rumoured to be the Treasury's preferred candidate for SARB Deputy Governor.
  • Eskom will alternate between no loadshedding and Stage 2 power cuts until further notice as the situation improves after last week's flare-up in outages.
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