MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

MNI China Daily Summary: Wednesday, July 24

MNI: FRANCE JUL MANUF SENTIMENT AT 95

MNI: JAPAN JUNE SERVICES PPI +3.0% Y/Y; MAY REV +2.7%

MNI BRIEF: Japan June Services PPI Rises 3.0% Vs. May's 2.7%

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

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Steady in G10s

USD
  • The Dollar is again steady into the cash EU Govie open, circa flat against the CHF, EUR, SEK, NOK, CAD and GBP.
  • No surprises, the Kiwi is still the best performer, up 0.46%, following the surprised, bigger than expected 50bps hike from the RNBZ.
  • NZDUSD has since faded and now sits at today's mid traded range 0.6340 vs a 0.6304/0.6379 low/high range.
  • Resistance is still seen at 0.6390.
  • AUD is the worst performer despite RBA Lowe saying overnight that leaving rate unchanged, didn't mean that hiking rates was over.
  • The weakness has in part been helped by the RNBZ decision and AUDNZD falling close to 100 pips on the rate decision and over 100 pips going into the European session.
  • AUDNZD is now at its lowest level this year, but has found some demand ahead of 1.0600.
  • A clear break through the latter, opens to 1.0532.
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