MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: PBOC Net Injects CNY57 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1315 Fri; -0.52% Y/Y

Intermediate PPI Deflation Continues To Fade in June

MNI: GERMANY JUNE PPI  +0.2 % M/M (+0.1% FCAST, 0.0% PRIOR)

Disappointing data but no market reaction

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

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RUSSIA: CBR Halts Publishing OTC FX Data to Limit Sanctions Impact

RUSSIA
CEEMEAEM BulletRussiaBulletGlobalEmerging Market NewsRegion
  • The Bank of Russia halted publication of OTC trading volume data on the US dollar, euro and yuan, according to statement released yesterday evening. It added that the measure aims to limit the impact of sanctions. As a reminder, since the dollar can no longer be traded on the MOEX, the CBR has been publishing rates indirectly deduced from OTC and other market sources. Last week, Bloomberg reported that the share of yuan on Russia’s foreign exchange market reached 99.6%.
  • Kommersant report that exchange prices for AI-95 gasoline rose another 1.2% to over RUB 70,000 per tonne on Monday, the highest figure since last September. The increase is attributed to growing demand and reduced sales on the exchange, with prices up 60% since the start of the year.
  • Meanwhile, Kommersant also report that wholesale electricity prices in parts of Russia are breaking records amid hot weather and breakdowns, with consumption having surged 9% in July.
  • Foreign Minister Sergei Lavrov will chair a ministerial-level debate of the UN Security Council in New York. The CBR publishes reports on trends in the nation’s economy and inflation later today.
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  • The Bank of Russia halted publication of OTC trading volume data on the US dollar, euro and yuan, according to statement released yesterday evening. It added that the measure aims to limit the impact of sanctions. As a reminder, since the dollar can no longer be traded on the MOEX, the CBR has been publishing rates indirectly deduced from OTC and other market sources. Last week, Bloomberg reported that the share of yuan on Russia’s foreign exchange market reached 99.6%.
  • Kommersant report that exchange prices for AI-95 gasoline rose another 1.2% to over RUB 70,000 per tonne on Monday, the highest figure since last September. The increase is attributed to growing demand and reduced sales on the exchange, with prices up 60% since the start of the year.
  • Meanwhile, Kommersant also report that wholesale electricity prices in parts of Russia are breaking records amid hot weather and breakdowns, with consumption having surged 9% in July.
  • Foreign Minister Sergei Lavrov will chair a ministerial-level debate of the UN Security Council in New York. The CBR publishes reports on trends in the nation’s economy and inflation later today.