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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Ringgit Paring Tuesday's Gain In Early Dealing

MYR

The Ringgit has pared Tuesday's gains in early dealing, USD/MYR prints at 4.6180/6220 up ~0.2% from closing levels.

  • Broader greenback trends continue to dominate flows in recent sessions however ranges do remain relatively narrow as the pair consolidates above 4.60.
  • Technically the uptrend remains in place, bulls now target the high from 26 May at 4.6398. Bears first look to break the 20-Day EMA (4.5841) to turn the tide.
  • Palm Oil futures are at their highest level since 30 May and now sit ~9% above cycle lows seen in early June. Stronger soybean prices and the risk of an El Nino weather pattern on production have offset concerns about growing supply. More here.
  • A reminder that the domestic data calendar is empty for the remainder of the week.
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