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 China Daily Summary: Monday, July 29

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

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MNI: FRANCE JUN CONSUMER SPENDING -0.5% M/M, -1% Y/Y

Australia Jun Total Dwelling Approved -6.5%

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

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USDCAD Close To Week Lows After Prior Clearance Of Key Support

CANADA
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  • USDCAD sits 10-15 pips above earlier intraday lows of 1.3601.
  • The pair has pierced key supports this week at 1.3637 (50-day EMA) and 1.3610 (May 3 low) with a low of 1.3590, with any further declines watched to open the way towards 1.3547 (Apr 9 low).
  • CAD lags high beta peers on the day amidst mild USD weakness, whilst the S&P 500 e-mini largely moving sideways offers very little additional directional help.
  • StatsCan data showed Canadians bought a record C$35.6bn in foreign securities back in March.
  • Fixed income markets close early today (cash GoCs recommended close 1300ET, CGB and CORRA futures 1330ET) before full closures Monday for Victoria Day which should heavily limit activity.
  • Domestic attention should be firmly on Tuesday’s CPI release.
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  • USDCAD sits 10-15 pips above earlier intraday lows of 1.3601.
  • The pair has pierced key supports this week at 1.3637 (50-day EMA) and 1.3610 (May 3 low) with a low of 1.3590, with any further declines watched to open the way towards 1.3547 (Apr 9 low).
  • CAD lags high beta peers on the day amidst mild USD weakness, whilst the S&P 500 e-mini largely moving sideways offers very little additional directional help.
  • StatsCan data showed Canadians bought a record C$35.6bn in foreign securities back in March.
  • Fixed income markets close early today (cash GoCs recommended close 1300ET, CGB and CORRA futures 1330ET) before full closures Monday for Victoria Day which should heavily limit activity.
  • Domestic attention should be firmly on Tuesday’s CPI release.