MNI China Daily Summary: Thursday, December 12

RPT-MNI BOC WATCH: More Gradual Approach Seen After 50BP Cut

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

AUD/JPY Extends Losing Streak to Five Sessions

FOREX
  • The softer USD backdrop is persisting into a fourth session, with the USD Index edging to the lowest levels since mid-may. The pullback after nonfarm payrolls has extended, compounded by the softer Manheim user car report released on Monday. The USD Index touched 101.676 at the low, narrowing the gap with the next major support of 101.027.
  • USD/JPY typifies the soft USD theme, with the pair lower for a fourth consecutive session and narrowing in on 50-dma support of 139.92 - last crossed in early May. The level could come in particular focus tomorrow if the US CPI report misses forecast and prompts a broader pullback in Fed pricing.
  • AUD, NZD are among the poorest performers in G10, with AUD/JPY a stand out cross at these levels: AUD/JPY is now on a five session losing streak, with the 50-dma the next level to watch at 93.439.
  • Perhaps surprisingly, GBP is mid-table despite another stronger-than-expected wage growth release. The data did little to stir a further GBP rally, as markets pointed to other elements of the report that signaled a looser labour market.
  • Scheduled datapoints and risk events due later today are few and far between, with no tier one releases set for Tuesday. The central bank speaker slate is similarly light.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.