PHILIPPINES: June Exports Surge
Jul-30 01:27
- The Philippines June exports YoY surged +26.1% against forecasts of +22.2% and against the prior month's revised result of +15.5%.
- Exports saw strong expansion from agricultural based products (+39.8%), forest products (+38%) and electronic products (+30%).
- Exports to the US jumped (+35.2%) whilst exports to China contracted (-15.5%). Exports to Japan rose (+30.5%) and to Germany (+45.4%).
- Imports rose +10.8% beating expectations of +3.6% with the prior month revised up to -1.1%.
- The result was a bigger trade deficit than forecast at $3.95bn with the trade deficit with China $2.37bn and a trade surplus with the US of $645m.
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CHINA: Central Bank Injects CNY111bn via OMO
Jun-30 01:23
- The PBOC issued CNY331.5bn of 7-day reverse repo at 1.4% during this morning's operations.
- Today's maturities CNY220.5 bn
- Net liquidity injection CNY111 bn.
- The PBOC monitors and maintains liquidity in the interbank system through the issuance of reverse repo.
- The CFETS Pledged Repo Deposit Institutions 7 Day Weighted is at 1.40%, from prior close of 1.69%.
- The China overnight interbank repo rate is at 1.45%, from the prior close of 1.29%.
- The China 7-day interbank repo rate is at 1.40%, from the prior close of 1.70%.
CNH: USD/CNH Lower Post USD/CNY Fixing
Jun-30 01:22
The USD/CNY fixing printed at 7.1586, against a Bloomberg market consensus of 7.1704.
- This fixing continues the recent downtrend and is the lowest result since Nov last year. The fixing error was close to unchanged at -118pips.
- USD/CNH is lower post the fixing outcome, last around 7.1650. Focus will be on whether we can test sub 7.1600, with last week's cycle lows at 7.1525.
MNI: CHINA PBOC CONDUCTS CNY331.5 BLN VIA 7-DAY REVERSE REPO MON
Jun-30 01:21
- CHINA PBOC CONDUCTS CNY331.5 BLN VIA 7-DAY REVERSE REPO MON
