MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

MNI: UK JUN M4 MONEY SUPPLY +0.5% M/M, +1% Y/Y

Riksbank Shouldn’t Place Too Much Weight On The Q2 GDP Indicator

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

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The Asia-Pacific session saw the USD come.....>

FOREX
FOREX: The Asia-Pacific session saw the USD come under pressure as Tsy yields
softened, curve inversion remained in play and the 10-Year Tsy yield crossed
below its 200-DMA for the first time this year. 
- Souring risk appetite allowed JPY to top the G10 currency board, with USD/JPY
threatening to break below Y113.00. Meanwhile, USD/CNY fell sharply and the rate
is just above session lows of CNY6.8372 at writing. The RBA MonPol decision
failed to trigger major movements in AUD crosses, as the central bank decided to
leave its policy rate unchanged at 1.5%, as expected, with no notable changes in
rhetoric.
- Fed Chair Powell spoke overnight. Powell believes that the FOMC has made "a
great deal of progress towards its mission goals" although he has acknowledged
"long-term challenges to an otherwise strong economy." That being said Powell
noted that "wage gains & consumer confidence support robust spending." 
- Focus today turns to central bank rhetoric. A BoE delegation headed by Gov
Carney will testify to the Tsy select committee while BoE's Vlieghe and New York
Fed Pres Williams are due to make addresses.
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