MNI China Daily Summary: Wednesday, July 10

MNI BRIEF: China To Investigate EU Trade Actions

MNI BRIEF: China June CPI Hits Three Month Low

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

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

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

MNI: US MBA: MARKET COMPOSITE -0.2% SA THRU JUL 05 WK

US MBA: REFIS -2% SA; PURCH INDEX +1% SA THRU JULY 5 WK

Indeed Wages Tick Higher, But Future Revisions Are Likely

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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Simsek Says US Investor Interest in Turkey Better Than in Previous Visit

TURKEY
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  • Treasury and Finance Minister Simsek said investor interest in his latest US trip was better than his previous visit, Hurriyet report. “Last year we explained the program to them, there were many question marks. This year, the hesitations are completely gone. This was an important threshold,” he said. “The interest in Turkey has now turned into a resource inflow.”
  • Meanwhile, President Erdogan hinted at fiscal tightening in comments to journalists following his return from a state visit to Iraq: “Our priority and first goal is to apply savings in public expenditures, reduce inflation and relieve the economy.”
  • Turkey's manufacturing confidence rose to 106.1 in April from 104.4 in March, according to the Central Bank of Turkey. Adjusted manufacturing confidence was unchanged at 103.5 while capacity utilization rose to 76.7% from 76.2%.
  • Fitch Ratings will hold a panel discussion on its recent upgrade of Turkey’s rating at 14:30BST/16:30 local time. President Erdogan hosts his German counterpart for talks in Ankara. There are no other data releases on the docket today with attention turning to tomorrow’s CBRT rate decision. Our preview for that can be found here.

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  • Treasury and Finance Minister Simsek said investor interest in his latest US trip was better than his previous visit, Hurriyet report. “Last year we explained the program to them, there were many question marks. This year, the hesitations are completely gone. This was an important threshold,” he said. “The interest in Turkey has now turned into a resource inflow.”
  • Meanwhile, President Erdogan hinted at fiscal tightening in comments to journalists following his return from a state visit to Iraq: “Our priority and first goal is to apply savings in public expenditures, reduce inflation and relieve the economy.”
  • Turkey's manufacturing confidence rose to 106.1 in April from 104.4 in March, according to the Central Bank of Turkey. Adjusted manufacturing confidence was unchanged at 103.5 while capacity utilization rose to 76.7% from 76.2%.
  • Fitch Ratings will hold a panel discussion on its recent upgrade of Turkey’s rating at 14:30BST/16:30 local time. President Erdogan hosts his German counterpart for talks in Ankara. There are no other data releases on the docket today with attention turning to tomorrow’s CBRT rate decision. Our preview for that can be found here.