MNI China Daily Summary: Monday, July 22

MNI BRIEF: PBOC Lowers Ceiling of Its Interest Corridor

MNI: China CFETS Yuan Index Down 0.05% In Week of Jul 19

MNI: PBOC Sets Yuan Parity Higher At 7.1335 Mon; -1.18% Y/Y

MNI: PBOC Conducts CNY58.2 Bln Via OMO Mon; 7day Repo Rate Cut

MNI BRIEF: PBOC Cuts 7-Day Repo Rate By 10bp

CBRT Data Watch

NBH Data Watch

Pay concerns push back easing expectations; curve flattens

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

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TTF Edges Back Up from 18 Month Low

NATURAL GAS

TTF is today supported by a shift in the weather forecast towards cooler weather and below normal temperatures in the second week of the current outlook. Front month yesterday fell to the lowest since August 2021.

    • TTF APR 23 up 0.9% at 47.85€/MWh
    • TTF SUM 23 up 0.6% at 48.5€/MWh
  • LNG supply to Europe remains steady despite increased support for Asia LNG buying due to the lowest prices since Jul 2021. Total European sendout was up to 489mcm/d on 24 Feb boosted by the higher heating demand.
  • Norwegian supplies are today nominated up near to recent high levels at 342mcm/d.
  • Russia gas transit via Ukraine is back up to the late 2022 and start of year level at 42.3mcm/d.
  • European gas in storage is at 62.14% according to GIE data from 26 Feb compared to the five year average of 40.48%. Germany is at 70.71% full, Italy at 60.82%, Netherlands at 63.30%, Austria at 71.11% and France at 43.31%.
Energy BulletsCommodities
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