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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AUDUSD Breaks Above 66c, Upcoming Calendar Light

AUD

AUDUSD has risen above 66c during APAC trading today driven by a weaker US dollar (USD index -0.1%) as US yields moderate and better equity performance. The pair reached a high of 0.6614 but is now slightly lower at 0.6602 but still up 0.1%.

  • Aussie is stronger against Europe with the AUDEUR up 0.1% to 0.6057 and AUDGBP +0.1% to 0.5196. But AUDNZD is down 0.1% to 1.0775, close to the intraday low of 1.0770, and AUDJPY is -0.1% at 97.63.
  • Equity markets across the region are mixed with the ASX up 0.6% but the CSI 300 down 0.3%. The S&P e-mini is 0.3% higher. Oil prices are slightly lower with Brent down 0.4% to $78.28/bbl. Copper is down 0.2% and iron ore is around $129-130/t.
  • The calendar for the rest of today is light with the Fed’s blackout period now in place and only the US leading index for December printing. Tomorrow Australia’s NAB business survey for December is released.
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