MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

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

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

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Underlying strength in the report, as July..>

US DATA
US DATA: Underlying strength in the report, as July payrolls only +157k, 
much weaker than the +190k expected (whisper +204k), but May-June net 
revisions +59k, the unemp rate -0.1pp to 3.9% (3.871%) and hourly 
earnings as expected at +0.3%.
- Labor force participation rate unch at 62.9% in June. The labor force 
+105k, with household employed +389k and unemployed -284k after +499k in 
June. The U-6 unemp rate -0.3pp to 7.5%.
- Hourly earnings +0.3% (+0.259%) m/m after downward revised +0.1% 
(+0.148%). Hourly earnings still +2.7% y/y rounded, but unrounded it 
slipped to +2.696% y/y vs +2.742% in May.
- Private jobs +170k vs +202k expected. Within payrolls, there were 
solid gains for business and professional services (+51k), leisure and 
hospitality (+40k), manufacturing (+37k), and health care (+34k), but 
retail jobs were only +7k and utilities, mining, and transportation and 
mining jobs all fell.
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