MNI China Daily Summary: Wednesday, July 31

MNI BRIEF: BOJ To Raise Further, No Clues on Timing - Ueda

MNI BRIEF: BOJ's FY26 Inflation View Flat; Upside Risk To FY24, 25 Prices

MNI: PBOC Net Injects CNY185.57 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1346 Weds; -1.39% Y/Y

MNI BRIEF: China July PMI Contracts For Third Straight Month

Blinken-US Uninvolved & Unaware Of Haniyeh Elimination Beforehand

MNI: US MBA: MARKET COMPOSITE -3.9% SA THRU JUL 26 WK

US MBA: REFIS -7% SA; PURCH INDEX -2% SA THRU JULY 26 WK

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

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Wavering

NZD

NZD/USD held a 38 pip range Tuesday, struggling for a clear direction. The rate wavered through the day, finishing just a handful of pips shy of neutral levels.

  • Commerce & Cons Affairs Min Clark said New Zealand will cap merchant service fees at 0.8%, bringing them in line with Australia's. The move is expected to benefit smaller retailers and those relying on credit/online sales.
  • Public Service Min Hipkins agreed to review the controversial pay freeze for higher-earners in the public sector in late-2022 rather than in mid-2023, as initially planned.
  • New Zealand's food price index comes out tomorrow, with BusinessNZ M'fing PMI due Friday.
  • NZD/USD last sits at $0.7269, just shy of Tuesday's close. A break below May 4 low of $0.7116 would support the bearish case, while bulls look for a jump above May 10/Mar 2 highs of $0.7305/07 towards Feb 25 cycle high of $0.7465.
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