MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC CONDUCTS CNY50 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1268 Fri; -0.32% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1268 FRI VS 7.1270

MNI: BANXICO HOLDS INTERBANK RATE STEADY AT 11.00%

MNI BRIEF: Fed's Bowman Says Policy Appears To Be Restrictive

MNI BRIEF: Japan June Tokyo Core CPI Rises 2.1% Vs. May 1.9%

Japan May Ind. Output 2.8% M/M; Shipments +3.5% M/M

MNI BRIEF:Japan May Factory Output Hits First Rise in 2 Months

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Redback Happy To Hug Tight Range

CNH

Spot USD/CNH is largely unfazed by today's PBOC fix, which came in at CNY6.4762, a dozen pips above sell-side estimate. The rate has generally stuck to a very tight range so far and last trades at CNH6.4791, oscillating in close proximity to neutral levels.

  • Bulls look to a rally past Jun 23 high/round figure of CNH6.4948/6.5000, which would shift topside focus to the 200-DMA at CNH6.5172. Bears need a dip through Jun 25 low of CNH6.4520, before targeting the 50-DMA at CNH6.4349.
  • Chinese Premier Li held virtual talks with UK business leaders, expressing hope for bolstering bilateral trade relations. Separately, China's Foreign Ministry spokesman blasted Japanese Dep PM Aso for his remarks about defending Taiwan, if the island is invaded.
  • Data-wise, all eyes in China are on Thursday's inflation figures. Consumer-price growth is expected to remain at +1.3% Y/Y, while factory-gate inflation is expected to decelerate to +8.8% Y/Y from +9.0%.
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