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

CBI Retail Sales Fell Faster Than Expected For The Second Month

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

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

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USD Mixed as Market Looks Through NFP

FOREX

The headline change in nonfarm payrolls missed expectations, although once net revisions were factored in the release was broadly inline with market expectations. As a result, markets looked through the December NFP release, with more focus resting on Biden's looming inauguration on January 20th and the continued upside in US equities.

The USD traded mixed, with the EUR one of the poorest performers and GBP among the strongest. USD/JPY finished the week particularly well, extending the recovery off Wednesday's 102.59 low. The pair is testing the 50-day EMA at 103.97. A break and close above would strengthen S/T bullish conditions and signal scope for stronger rally.

Various inflation gauges take focus in the coming week, with CPI & PPI data due from China, Japan and the US. The central bank speakers schedule will also be of interest, with notable speeches including BoE's Tenreyro on negative rates, ECB's Lagarde, Fed's Powell and Fed's Clarida on the topic of the new Fed framework.

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