MNI China Press Digest July 17:  Investment, LPR, H2 Priority

MNI BRIEF: NZ CPI Prints Lower Than Expected At 3.3% Y/y

MNI: PBOC Net Injects CNY268 Bln Via OMO Wed; Rates Unchanged

CHINA PBOC CONDUCTS CNY270 BILLION VIA 7-DAY REVERSE REPOS WED

MNI: PBOC Sets Yuan Parity Lower At 7.1318 Wed; -1.32% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1318 WED VS 7.1328

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Swift categories boost services CPI by 0.19ppt; headline by 0.09ppt (CORRECT)

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MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Stocks Top Resistance to Hit New Alltime Highs Post-Payrolls

DATA REACT
  • After a sluggish initial reaction, markets have begun to react positively to the higher-than-expected payrolls release, with the e-mini S&P topping the first resistance at 4322.15 to hit new alltime highs.
  • The USD initially traded firmer, before reversing against most others to trade weaker. EUR/USD is now 40 pips off the day's lowest levels while US treasury yields are settling very slightly below pre-data levels.
  • Mixed response to the release given the higher than expected headline being countered by an unexpected 0.1ppts rise in the unemployment rate, although the underemployment rate fell another 0.4ppts.
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