MNI China Daily Summary: Wednesday, July 31

MNI BRIEF: BOJ To Raise Further, No Clues on Timing - Ueda

MNI BRIEF: BOJ's FY26 Inflation View Flat; Upside Risk To FY24, 25 Prices

MNI: PBOC Net Injects CNY185.57 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1346 Weds; -1.39% Y/Y

MNI BRIEF: China July PMI Contracts For Third Straight Month

Flash Inflation In-Line With Tracking; Services Softens But Only Slightly

MNI: EUROZONE JUL FLASH HICP +2.6% Y/Y

MNI: GERMANY JUL UE RATE (SA) 6.0% (FCST 5.9%); JUN 6.0%

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

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Trades below initial support

BUNDS
  • Bund traded trough the initial support noted ta 133.45 yesterday, and is trading below that level overnight and into the cash open on the continued divergence in rate hike expectations in Europe and the UK vs the US.
  • Main initial support in Bund is still at 133.00, did print a 132.97 low on the 8th June, but that level held.
  • Below the latter, would see the 2.50%, which equated to 132.81 area last week.
  • Resistance moves down to 133.90.
  • Today sees, EU IP, Portugal final CPI, US PPI, FOMC meeting, expect unchanged rate at 5.25%.
  • SUPPLY: German EU4bn Bund (Equates to 30.5k Bund) should weigh into the bidding deadline.
  • SPEAKERS: Fed Powell presser.
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