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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Summary – February 21

LATAM
  • Mexico retail sales data for December will cross at 1200GMT, but the focus for Wednesday’s session will be on the FOMC minutes released at 1900GMT, with markets on watch for any further details on the FOMC's deliberations over the easing cycle and any fresh approach to quantitative tightening.
  • Global News:
    • CHINA - China has banned major institutional investors from reducing equity holdings at the open and close of each trading day, part of the government’s most forceful attempt yet to prop up the nation’s $8.6 trillion stock market. The China Securities Regulatory Commission has also created a task force to monitor short selling and issue warnings to firms that profit from the wagers.
    • COMMODITIES - Aluminium and nickel surged on speculation that a fresh wave of US sanctions against Russia may target the metals and potentially disrupt supplies. President Biden said the US plans to unveil a “major” sanctions package against Moscow on Friday, although he wasn’t specific about which industries would be affected.
    • US - Nvidia Corp. will announce fiscal Q4 results on Wednesday and give a forecast for the current period, showing whether one of the biggest stock run-ups in history was justified. The chipmaker faces sky-high expectations, with investors betting that it will remain the key beneficiary of booming AI spending.
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