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: EUROZONE Q2 PRELIM FLASH GDP +0.6% Y/Y

MNI: EUROZONE Q2 FLASH GDP +0.3% Q/Q

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

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

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WTI, Brent Grinds Higher Despite Iran Olive Branch

COMMODITIES
  • Having closed at the best level since 2018 on Tuesday, WTI and Brent crude futures are adding further to recent gains this morning, with WTI touching new cycle highs of $70.62/bbl and Brent hitting $72.83/bbl in overnight trade.
  • The upside in oil has extended this morning despite some signs of tangible progress and timelines for the possible return of Iran to the global oil market.
  • Reports this morning that ahead of the sixth round of IAEA negotiations with Iran, US diplomats are have appealed to Iran to accept a 'mutual return' to the nuclear agreement, according to Bloomberg.
  • In precious metals markets, both gold and silver are in minor negative territory, although both have traded inside the recent range so far Wednesday. This keeps technical parameters unchanged for now.
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