MNI China Daily Summary: Wednesday, August 14

MNI: PBOC Net Injects CNY369.2 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1415; +1.18% Y/Y

MNI: PBOC Sets Yuan Parity Lower At 7.1415; +1.18% Y/Y

CHINA PBOC CONDUCTS CNY369.2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1415 WEDS VS 7.1479

MNI: US JUL CPI UNROUNDED M/M 0.155%, CORE 0.165%

MNI: US JUL CPI 0.2%, CORE 0.2%; CPI Y/Y 2.9%, CORE Y/Y 3.2%

US MBA: REFIS +35% SA; PURCH INDEX +3% SA THRU AUG 9 WK

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

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Unexpectedly Weak Core Goods CPI Offset By Upside Services Surprise

US DATA
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The table in the image below shows how major subcategories came out vs analyst expectations:

  • Headline and core M/M below expected medians, supercore basically in-line
  • Core goods very soft (-0.32%) driven by even more deflation in used cars than expected (-2.3%)
  • Otherwise categories were above-expected including core services (+0.32%), OER and Rents, Lodging, Airfares (slightly), and car insurance.
  • For headline, food was basically in line but energy was on the soft side of expectations.

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The table in the image below shows how major subcategories came out vs analyst expectations:

  • Headline and core M/M below expected medians, supercore basically in-line
  • Core goods very soft (-0.32%) driven by even more deflation in used cars than expected (-2.3%)
  • Otherwise categories were above-expected including core services (+0.32%), OER and Rents, Lodging, Airfares (slightly), and car insurance.
  • For headline, food was basically in line but energy was on the soft side of expectations.