AUSTRALIA DATA: Q2 Trimmed Mean Only 0.1pp Above RBA Forecast
Jul-30 01:33
Australia’s Q2 trimmed mean CPI printed close to Bloomberg consensus at 0.6% q/q and 2.7% y/y down from Q1’s 0.7% & 2.9%. This is close enough to the RBA’s May 2.6% Q2 forecast to allow it to ease on August 12. June moderated to 2.1% y/y from May’s 2.4%. Headline was lower than expected at 0.7% q/q and 2.1% y/y after 0.9% & 2.4%. More details to follow. ABS press release can be found here.
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MNI: **CHINA JUN MANUFACTURING PMI 49.7 VS 49.5 IN MAY
Jun-30 01:30
- **CHINA JUN MANUFACTURING PMI 49.7 VS 49.5 IN MAY
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.
