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

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI: US NOV SUPERCORE CPI (CORE SERVICES EX-HOUSING) 0.342%

MNI: US NOV CPI UNROUNDED M/M 0.313%, CORE 0.308%

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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AUD/NZD Tests 1.0950 Ahead Of Consumer Confidence

NZD
  • AUD/NZD continues its upward trend, gaining 0.07% on Monday to close at 1.0949. Despite several attempts, the pair has yet to sustainably breach the 1.0950 level, starting Tuesday's trading slightly lower at 1.0946.
  • Key technical levels to watch: Initial resistance is now 1.0957 (Apr 4 highs), above here a break of 1.100 (round number resistance) would open a retest of the yearly highs at 1.1057 (June 6 highs). While to the downside, initial support is 1.0872 (20-day EMA), below here the 1.0802 (50-day EMAs) area would be the next target.
  • The AU-NZ 2Y swap is 1bps lower at -83.5bps.
  • Upcoming expiries: $201.38m puts at a strike of 1.0925 and $100.46m calls at a strike of 1.0950 for Apr 9 NY cut.
  • Looking ahead: Westpac Consumer Confidence at 10.30am & NAB Business Confidence & Conditions at 11:30am AEST, while focus for NZ is the RBNZ decision on Wednesday.
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