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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Yen Stabilises, Antipodeans Edge Higher

FOREX

The yen has got some reprieve, with USD/JPY probing the water below yesterday's worst levels. This marginal move does not seem to represent any fundamental shift in sentiment as consensus is building that there is room for further yen depreciation amid contrasting policy stances of Fed policymakers and their BoJ colleagues.

  • Elsewhere, an uptick in U.S. e-minis has lent a modicum of support to risk-sensitive Antipodean currencies, while the Swiss franc sits at the bottom of the G10 pile.
  • Central bank focus turns to the ECB who will review monetary policy settings. Eurozone's single currency has been treading water in early Asia trade.
  • Besides the press conference with ECB Pres Lagarde, we will also hear from Fed's Williams, Mester & Harker today.
  • Data highlights include Australian jobs market report & Swedish CPI as well as U.S. jobless claims & Uni. of Mich. Sentiment.
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