MNI China Daily Summary: Wednesday, July 3

MNI BRIEF:BOJ Q1 Output Gap Hits 16th Negative Reading In Row

MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1312 WEDS VS 7.1291

PPI a Tenth Softer than Exp; Further NEIG HICP Disinflation to Come?

MNI: EUROZONE MAY PPI -0.2% M/M, -4.2% Y/Y

Services PMI points to wage bills increasing operating expenses

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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Russian List of Oil Product Exporters to be Adopted Soon

OIL PRODUCTS

The Russian Government Plans to soon approve the special list of exporters of petroleum products as a measure to crack down on ‘gray’ exports, according to Interfax.

  • "In terms of pricing [of petroleum products], we are cooperating with companies to provide the exchange with the necessary volumes so that (...) there is a balance of supply and demand. A list of special exporters will literally be adopted in the near future to limit 'gray exports',” Deputy Prime Minister Alexander Novak said.
  • Novak added that Russia currently has no shortage of petroleum products at this time.
  • Russia wants to clamp down on ‘gray’ exports after domestic gasoline prices rose in recent months, while there were some reports of shortages in Southern Regions.
  • The Russian Government attributed the shortages to logistical problems on railways during peak travel season.
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