MNI China Daily Summary: Thursday, August 1

MNI: BOE VOTES 5-4 FOR 25 BPS RATE CUT AT AUG MEETING

MNI BRIEF: BOJ To Focus On Continued Positive Wage Setting

MNI BRIEF: Japan Q2 GDP To Rise 0.5% Q/Q; 2.2% Annualised

MNI BRIEF: China Retains Ample Policy Space In H2 – NDRC

MNI BRIEF: Caixin July Manufacturing PMI Falls Below 50

MNI: US Q2 PREL UNIT LABOR COSTS +0.9% VS Q1 +3.8%; Y/Y +0.5%

MNI: US JOBLESS CLAIMS +14K TO 249K IN JUL 27 WK

VDMA Factory Orders Remain Weak in June

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

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USD/JPY last Y113.95, slightly north.....>

DOLLAR-YEN
DOLLAR-YEN: USD/JPY last Y113.95, slightly north of session lows, operating
within a ~25 pip range in today's Asia-Pac session. 
- The yen outperformed all of its G10 peers overnight, as the weight of the
FOMC's MonPol decision spilled over into the Asia-Pac session and pressured
regional equities triggering modest risk off flows & sending the pair to the
lows of Y113.85. 
- Nearby FX option expiries of note at today's 10AM NY cut:
Y112.99-113.00($1.67bn), Y113.25-35($946mln), Y113.50($774mln),
Y113.60($1.17bln), Y114.00($1bln) 
- USD/JPY bulls need to retake the psychological level/nearby resistance at
Y114.00 to affirm upside momentum and target the Oct 5 highs of Y114.10.
Conversely, bears eye yesterday's lows of Y113.48, as a break below would open
up the 38.2% fibo at Y113.05.
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