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

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

EZ/UK Bond Supply Calendar: Italy, UK Auction on Thursday

US Treasury Auction Calendar

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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Stronger CNY Fixing Buoys A$

AUD

AUDUSD has risen sharply in response to the stronger USDCNY fix at below 7.10 when Bloomberg consensus was at over 7.20. This surprise weighed on the greenback with the USD index down 0.2% driving AUDUSD up 0.2% to 0.6529, close to the intraday high of 0.6534.

  • Aussie is 0.1% higher against the euro and pound at 0.6036 and 0.5177 respectively. It is moderately stronger versus the yen and kiwi at 98.74 and 1.0877 respectively.
  • Equities are mixed today with the ASX up 0.5%, Hang Seng flat and the CSI 300 down 0.4%. The S&P e-mini is unchanged. Oil prices are stronger with the WTI up 0.6% to $81.11/bbl. Copper is up 0.7% and iron ore is slightly lower at $107-108/t.
  • Later the Fed’s Bostic, Goolsbee and Cook speak and the Chicago & Dallas Fed indices are released as well as February new home sales. BoE’s Mann also appears.
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