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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USDCAD Mostly Holding Post-JOLTS Climb

CANADA
  • USDCAD has pulled 10-15 pips off session highs of 1.3467 with a tick off lows for the S&P e-mini but broadly maintains a move higher since the JOLTS miss.
  • It chips away at yesterday’s slide but remains in the lower half of its range despite ESA fully unwinding yesterday’s climb.
  • The earlier session low of 1.3407 stopped just shy of support at 1.3404 (76.4% retrace of Feb 2 – Mar 10 rally) whilst resistance is seen at yesterday’s high of 1.3537.
  • Sizeable option expiry for tomorrow’s NY cut but it remains notably higher than spot (1.374bln at 1.3600) with no material strikes near current levels.
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