MNI: PBOC Net Drains CNY98 Bln Via OMO Thurs; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1305 Thurs; -0.79% Y/Y

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1305 THURS VS 7.1312

MNI NBP WATCH: Rates Held As 2024 Outlook Remains Hawkish

MNI BRIEF: ADP's Richardson Sees Pockets of Weakness in US Job Market

Australia May Exports +2.8%; Imports +3.9%

MNI:AUSTRALIA MAY TRADE BALANCE A$+5773

US Treasury Auction Calendar

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Widest Seasonal NY Spot Gasoline Discount Since 2009

OIL PRODUCTS

Spot RBOB gasoline in New York is trading at 1.25 c/gal below Nymex futures, a level not seen at this time of year since 2009, according to Bloomberg.

  • Pressure on prices is stemming from high inventories of winter grade supply in New York Harbour being blended with European imports.
  • Central Atlantic fuel inventory has risen over the past month, now only 2.1% below the five-year average, vs a 25% gap in early June, according to the IEA.
  • National demand for gasoline has also softened as driving demand falls after summer.
  • US gasoline pump prices are averaging $3.799/gal Sep. 25, down 4.3 cents on the previous week’s average.
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