MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: PBOC Net Injects CNY57 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1315 Fri; -0.52% Y/Y

Intermediate PPI Deflation Continues To Fade in June

MNI: GERMANY JUNE PPI  +0.2 % M/M (+0.1% FCAST, 0.0% PRIOR)

Disappointing data but no market reaction

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

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USDJPY remains above 157.00

USD
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  • The Dollar was mostly in the red pre European Cash Govies open, albeit in small and in very tight ranges, 10 pips in EURUSD, 24 pips in Cable even with the big Retail sales miss, although the latter is now back at Pre UK data levels, given how volatile the Data is.
  • Focus in G10 FX is still on the USDJPY, after breaking above 157.00 Yesterday, printed a 157.20 high then, today a 157.15.
  • Main initial area of interest is at 157.59, not a Tech level, but where the pair was trading pre the second supposed intervention triggered on the 1st May.
  • Further out, would look to 158.43 the late 26th April Friday peak.
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  • The Dollar was mostly in the red pre European Cash Govies open, albeit in small and in very tight ranges, 10 pips in EURUSD, 24 pips in Cable even with the big Retail sales miss, although the latter is now back at Pre UK data levels, given how volatile the Data is.
  • Focus in G10 FX is still on the USDJPY, after breaking above 157.00 Yesterday, printed a 157.20 high then, today a 157.15.
  • Main initial area of interest is at 157.59, not a Tech level, but where the pair was trading pre the second supposed intervention triggered on the 1st May.
  • Further out, would look to 158.43 the late 26th April Friday peak.