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MNI China Daily Summary: Thursday, July 25

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CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

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MNI: BELGIUM JUL BNB BUSINESS SURVEY -12.3

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

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Yen underperforms

FOREX
  • The Dollar started the overnight session in the red, and some some early continuation into the European open, with Global Yields leaning in the red, near multi months.
  • NZD and AUD were the early best performer, but have now been joined by the SEK, the 2nd best performer in G10 against the Dollar.
  • NZDUSD targeted immediate resistance of 0.6249, the December high and the highest print since 27th July, managed a 0.6251 high, but has lacked momentum, and has now pulled back to 0.6230.
  • EURSEK targets the immediate support of 11.1622, the June low and the lowest printed level since March, now trading at 11.1786 at the time of typing.
  • The yen has seen broader selling this morning against the USD, GBP, EUR and the AUD, and is the worst early performer against the USD, down 0.41%, as market participants await the BoJ decision tomorrow, although widely expected unchanged.
  • Looking ahead, there's no notable data, and focus will be on speakers, today includes, ECB Vujcic, Wunsch, Schnabel, Lane, Fed Goolsbee.
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