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-S. Africa Trade Relations Under Microscope

SOUTH AFRICA
  • The special presidential representative for the US-Africa Leaders Summit, Johnnie Carson, said that the US remains committed to maintaining and improving trade relations with Africa, which includes initiatives to address the continent's energy crisis. Meanwhile, President Joe Biden's key aide for African affairs, Judd Devermont, expressed concern over South Africa's "potential security partnership with Russia," but stayed mum on how the US could address the matter. Bilateral relations have come under renewed scrutiny after a bipartisan group of senior US lawmakers asked the White House to reconsider holding the annual AGOA Forum in South Africa and warned that the sub-Saharan nation could be at risk of losing its preferential trade status - which was promptly played down by South African diplomacy. BusinessDay subsequently reported that Pretoria would send a delegation headed by Trade, Industry & Competition Minister Ebrahim Patel to the US next month to ensure that the county keeps its AGOA status. The perception of an increased risk of the US taking action against South Africa over its Russia policies helped the rand snap its eight-day winning streak yesterday.
  • Russian President Vladimir Putin confirmed that a peace mission of six African leaders will arrive in Moscow "soon" to "discuss current issues." The leaders will then head to Kyiv to present their proposals for peace talks, the details of which have not been publicly announced.
  • The National Assembly passed a contentious National Health Insurance (NHI) Bill, sending it to the NCOP for approval. The bill would open the door for introducing universal healthcare, which its critics argue would be financially unsustainable.
  • South Africa's April retail sales will hit the wires at 12:00BST/13:00SAST.
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