MNI BRIEF: Foreign Firms Content In China

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: PBOC Sets Yuan Parity Lower At 7.1270 Fri; -0.95% Y/Y

CHINA PBOC CONDUCTS CNY358.05 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1270 FRI VS 7.1321

Unemployment Falls To 11.3% In Q2, Driven By Services

1 and 3-Year Consumer Inflation Expectations Remain Unchanged

MNI: ECB 1-YEAR CONSUMER INFLATION EXPECTATIONS 2.8%

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

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Revolution Day Holiday, USDMXN Outlook Remains Bearish

MEXICO
  • Local market closures for the national holiday should limit the impact on MXN on Monday with the Peso currently trading 0.4% softer from the open, in line with the firmer US Dollar.
  • The technical outlook remains bearish following the breach of 19.7533, the Sep 12 low. The break confirmed the end of a period of consolidation that started mid-August and resumed the downtrend that began Jul 14. Moving average studies are in a bear mode position, highlighting the current sentiment. 19.1560, the Mar 3 2020 low is the next point of support ahead of 19.000. Initial resistance moves down to 19.5728, the 20-day EMA.
  • Following Ilan Goldfajn’s appointment at the IDB, developments regarding Banxico’s Gerardo Esquivel will be monitored given his term on the central bank board will finish at the end of this year.
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