MNI BRIEF: China To Step Up Macroeconomic Policies - Politburo

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: NORTH RHINE WESTPHALIA CPI +0.3% M/M, +2.3% Y/Y

MNI: GERMANY Q2 FLASH GDP  -0.1% Q/Q (+0.1% FCST, +0.2% PRIOR)

MNI: ITALY Q2 FLASH GDP  +0.2% Q/Q (+0.2% FCST, +0.3% PRIOR)

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

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USDMXN Consolidating Below 18.00, Yet To Break 2018 Lows

MEXICO
  • The Mexican peso is consolidating further gains on Friday with USDMXN holding below the 18.00 mark to start the week. The pair is yet to trade below 17.9401, the 2018 lows.
  • Gross fixed investment data is scheduled at the top of the hour. The focus on the domestic docket this week will be Thursday’s February inflation data where core CPI is expected to drop to 8.35%.
  • As a reminder, Deputy Foreign Minister Martha Delgado announced last week that Tesla are to invest around $5 billion in a new project in Nuevo Leon, and 6,000 jobs are expected to be created as a result. The plant will probably require $10 billion in investments in several phases, as global companies rush to relocate to the country’s north, Governor Samuel Garcia said. (BBG)
  • Separately, Mexico expects $31.2 billion in revenue from international visitors this year, marking an 11% jump compared to last year as travel bounces back from its Covid-19 pandemic drop-off according to the Ministry of Tourism in an emailed statement.
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