MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1312 WEDS VS 7.1291

MNI BRIEF: 'Noise' Driving Economic Deterioration- Campos Neto

MNI China Daily Summary: Tuesday, July 2

Australia May Total Dwelling Approved +5.5%

Australia May Retail Trade +0.6%

MNI: AUSTRALIA MAY RETAIL SALES +0.6% M/M

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 Slipping as Strike Impact Fears Ease

NATURAL GAS

European gas prices are slipping further as fears around Australian gas strikes impact on the markets eases.

  • Chevron's two LNG production facilities in Australia - Gorgon and Wheatstone – that account for more than 5% of global LNG capacity are set to begin industrial action next week over pay and conditions disputes.
  • ICIS has updated its Gorgon and Wheatstone LNG forecast to capture 1 week of strike action. The initial ICIS analyst estimate is that during this time there is a 20% cut in output or 1.5 cargoes.
  • Norwegian nominated flows to the UK and Northwest Europe terminals at 181.80 mcm/d vs 5-day moving avg 188.58 mcm/d as maintenance at Troll and Kollsnes fields ramps up.
  • European gas storage was 93% full on Aug. 28 vs the 5-yr seasonal norm of 80% for this time of year according to GIE data.
  • LNG flows to Northwest Europe on Aug. 28 were 188.04 mcm/d, 22% higher than the 30-day average.
  • TTF SEP 23 down -4.7% at 33.55€/MWh
  • TTF WIN 23 down -2.3% at 48.5€/MWh
Energy BulletsCommodities
Energy BulletsCommodities

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