MNI China Daily Summary: Tuesday, July 30

MNI BRIEF: China To Step Up Macroeconomic Policies - Politburo

MNI: PBOC Net Drains CNY51.03 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1364 Tues; -1.28% Y/Y

CHINA PBOC CONDUCTS CNY216.27 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1364 TUES VS 7.1316

MNI: EUROZONE Q2 PRELIM FLASH GDP +0.6% Y/Y

MNI: EUROZONE Q2 FLASH GDP +0.3% Q/Q

MNI: NORTH RHINE WESTPHALIA CPI +0.3% M/M, +2.3% Y/Y

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

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US Natgas Drifting Lower Before EIA Inventory Data

NATGAS

US Natgas drifting off slightly from the weekly gains ahead of the updated EIA inventory data due later today.

    • US Natgas APR 23 down -1.9% at 2.76$/mmbtu
  • The latest EIA weekly gas inventories for the week ending 24 Feb will be released this afternoon at 15:30GMT. The expectation is for a draw of -74bcf following on from the -71bcf draw last week. The 5-year average for this time of year is -173bcf.
  • Lower 48 dry gas consumption holding near normal today at 84.3bcf/d but the two week forecast continues to show below normal temperatures stretching across the US in the coming two weeks.
  • US natural gas production has dipped slightly in the last two days with today estimated by Bloomberg at 99.2bcf/d.
  • Deliveries to US LNG export terminals are today estimated at the highest since the Freeport fire last June at 13.49bcf/d. Flows to the Freeport LNG facility are gradually increasing up to 1.29bcf/d today as the restart of the second liquefaction train continues.
  • Export flows to Mexico are relatively unchanged from yesterday at 6bcf/d.
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