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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Thailand Sees Faster Growth As Tourism Reopens

THB

Spot USD/THB trades +0.102 at THB32.857, seemingly supported by broader market impetus rather than any idiosyncratic catalysts. Bulls look to gains past the 100-DMA at THB33.010, which would open up Oct 18 high of THB33.488. Bears look for a dip through Nov 18 low of THB32.565, which would expose Sep 6 low of THB32.333.

  • FinMin Arkhom revealed that the economy could grow +1.2% Y/Y this year +4.5% in 2022, topping the earlier forecasts of +1.0% and +4.0% respectively, as the key tourism sector reopens in Q4. The government's new forecasts match those of the National Economic and Social Development Council but are considerably better than the BoT's.
  • Thailand's trade balance unexpectedly flipped into a deficit of $370mn in October from a surplus of $610mn in the previous month, according to the latest data from the Customs Department.
  • PM Prayuth brushed away accusations that he intends to use the 20-year national strategy to cling on to power for the next two decades amid speculation that it would act as a "straightjacket" for future governments.
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