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

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

MNI: UK JUN M4 MONEY SUPPLY +0.5% M/M, +1% Y/Y

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

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US durable goods and jobless claims offset each other

DATA REACT
  • Core durable goods disappointed in the February preliminary release with both orders (-0.3% M/M) and shipments (+0.5% M/M) below consensus.
  • This sees orders with the softest monthly print since Feb’21 but it follows a solid +1.3% M/M in Jan and is within usual volatility of the series.
  • With a surprising fall in weekly initial jobless claims back below 200k offsetting the small miss in durable goods, TYM2 sits 1 ticks higher at 122-23+ whilst BBDXY is unchanged having initially firmed slightly.
  • Data focus swiftly moves onto the US PMIs later after record input and output price components in Germany and France this morning.
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