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MNI: PBOC Sets Yuan Parity Higher At 7.1364 Tues; -1.28% Y/Y

CHINA PBOC CONDUCTS CNY216.27 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1364 TUES VS 7.1316

MNI China Daily Summary: Monday, July 29

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

Australia Jun Total Dwelling Approved -6.5%

MNI: AUSTRALIA MAY BUILDING APPROVALS -6.5% M/M, -3.7% Y/Y

MNI: AUSTRALIA JUN DWELLING APPROVALS -6.5% M/M

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

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TTF Rallies on Cold Weather and Asian Demand Risk to LNG Supply

NATURAL GAS

TTF recovering ground today on increased heating demand with below normal temperatures expected this week and LNG supply risks with the potential for higher Asian demand.

  • A recovery in Chinese LNG demand could put pressure on European prices with LNG supplies drawn away from Europe to Asia.
  • High gas storage levels are limiting any upside moves with stocks now above the five year range for this time of year.
  • Despite the rise today TTF front month is still trading down on the week from the close on Friday at 64.81€/MWh.
    • TTF FEB 23 up 8% at 59.9€/MWh
    • TTF SUM 23 up 7.1% at 62.02€/MWh
    • TTF WIN 23 up 4.2% at 67.8€/MWh
    • TTF SUM 24 up 3.1% at 58.48€/MWh
    • TTF WIN 24 up 2.6% at 58.95€/MWh
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