MNI China Daily Summary: Monday, July 29

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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

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USDMXN Back Below 18.00, Gravitating Towards Year’s Lows

MEXICO
  • The Mexican peso was largely unaffected at the open and continues to trade with renewed resiliency, dipping back below the 18.00 mark this morning and looks set to test the year’s lows.
    • Support at 18.2397, the Mar 13 low, was breached last week and the technical break signals scope for an extension lower towards 17.8981, the Mar 9 low and a key short-term support.
  • Inflation data will be the highlight of the week where core CPI is expected to decrease to 8.07%.
  • Mexico’s central bank will publish the total remittances the country received in February, with economists forecasting $4.37 billion, down from $4.41 billion in January.
  • Data today also includes the S&P Manufacturing PMI and IMEF Manufacturing & Non-Manufacturing Indices. The central bank will also release the results of the latest economist survey.
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