MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

MNI: US MBA: MARKET COMPOSITE +5.4% SA THRU DEC 06 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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A$ Trends Lower, Can’t Hold Breaks Above 66c, NAB Survey Coming Up

AUD

Commodity currencies underperformed against the US dollar on Monday with AUDUSD down 0.4% to 0.6570, close to the intraday low of 0.6566. The pair had broken above 66c during the APAC session but couldn’t hold it. The USD index was slightly higher.

  • The break last week of the trendline strengthened the bearish theme. Key support is at 0.6526 and a clear breach would open 0.6500. Initial resistance is at 0.6637, 50-day EMA.
  • AUDJPY fell 0.4% to 97.31, close to the low of 97.24. Aussie broke above 1.08 against the kiwi though to be up 0.3% and currently at 1.0816. AUDEUR is down 0.3% to 0.6037 and AUDGBP -0.5% to 0.5170.
  • Equity markets were generally higher with the S&P up 0.2% and the Euro stoxx +0.7%. Oil prices were higher with WTI up 1.8% to $74.57/bbl. Copper is down 1% and iron ore is close to $131/t.
  • Today the NAB business survey for December prints.
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