MNI China Daily Summary: Wednesday, July 31

MNI BRIEF: BOJ To Raise Further, No Clues on Timing - Ueda

MNI BRIEF: BOJ's FY26 Inflation View Flat; Upside Risk To FY24, 25 Prices

MNI: PBOC Net Injects CNY185.57 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1346 Weds; -1.39% Y/Y

MNI BRIEF: China July PMI Contracts For Third Straight Month

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

Flash Inflation In-Line With Tracking; Services Softens But Only Slightly

MNI: EUROZONE JUL FLASH HICP +2.6% Y/Y

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

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Uptick In E-Minis Supports Risk, All Eyes On U.S. CPI

FOREX

The greenback has lost shine and the Aussie outperforms in G10 FX space as U.S. e-mini futures have been creeping higher from the off. The BBDXY index sits a touch lower, but is yet to test yesterday's lows, even as U.S. Tsys have cheapened at the margin in early Tokyo dealing.

  • Heightened intervention risk may have applied some initial pressure to USD/JPY after the cross refreshed its cyclical highs on Wednesday, breaching prior intervention levels in the process. This early impetus has now dissipated as the pair claws back losses into the Tokyo fix.
  • The U.S. CPI report provides the highlight of today's session, with headline inflation expected to have slowed to +8.1% Y/Y in September, per a Bloomberg survey. The data will inform the debate on Fed tightening outlook. As things stand, another 75b rate hike is virtually fully priced for the November FOMC meeting.
  • Other notable data releases include U.S. jobless claims, as well as German and Swedish CPI figures. Speeches are due from ECB's Nagel & Riksbank's Breman.
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