MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

MNI China Daily Summary: Wednesday, July 24

France Manufacturing Sentiment Lowest Since Dec 2020

MNI: FRANCE JUL MANUF SENTIMENT AT 95

MNI: JAPAN JUNE SERVICES PPI +3.0% Y/Y; MAY REV +2.7%

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

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Trade Balance and Economic Activity Data Due

MEXICO
  • Mexico is expected to post a June trade surplus of $2.01b, up from $339.7m in May, according to analysts surveyed by Bloomberg. Increasing shipments of manufactured goods, in line with robust U.S. demand and abating transitory shocks, should help explain the increase. Additionally, at the top of the hour, Mexico will release economic activity figures, before posting second quarter GDP on Friday.
  • Despite an overnight session dominated by risk-off sentiment and a decent move higher in USDCNH through 6.50 resistance, USDMXN has failed to make any meaningful moves. With a similar pop towards 20.15, the lack of follow through sees us edging back towards the 20.00 mark.
    • For an indication of the rangebound trading, USDMXN has only closed outside of the 19.80/20.20 range once, since 22nd June.
  • 1200BST/0700ET – Mexico June Trade Balance (Est. 2.01B vs. 0.34B Prior)
  • 1200BST/0700ET – Mexico May Economic Activity (Est. 0.33% m/m vs. -0.16% Prior)
  • 1200BST/0700ET – Mexico May Economic Activity (Est. 23.9% y/y vs. 22.33% Prior)
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