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

IP Stronger Than Expected In May, But 3m/3m Trend Still Bleak

US EIA: CRUDE OIL STOCKS EX SPR -3.44M TO 445.1M JUL 05 WK

MNI:US MAY WHOLESALE INV 0.6%; SALES 0.4%

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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TTF Extends Losses

NATGAS

Front month TTF has extended losses throughout the session to fall to the lowest since 15 March, amid a lack of a prolonged cold spell at the remainder of this heating season, high stock levels and improved supplies.

    • TTF APR 24 down 5% at 26.36€/MWh
    • TTF SUM 24 down 4.5% at 26.6€/MWh
  • The TTF Sum24-Win24 spread also widened to -3.915€/MWh today, compared with -3.444€/MWh at the start of the week, amid front-curve weakness.
  • Weather forecasts for NW Europe suggest temperatures to briefly drop below normal at the end of this week before rising back above the seasonal average.
  • Norwegian pipeline supplies were today at 338mcm/d, after falling to 313.3mcm/d on 17 March. European LNG sendout increased to 332mcm/d on Mar. 19 from a low of 304mcm/d over last weekend but still below the average of 343mcm/d so far in March.
Energy BulletsCommodities
Energy BulletsCommodities

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