MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

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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Aussie Slips Amid Geopolitical Jitters

AUD

Net negative musings on the Russia-Ukraine standoff sap strength from riskier assets. AUD/USD trades -6 pips at $0.7171, with bears looking to a dip through Feb 14 low of $0.7086 towards Feb 4 low of $0.7052. On the flip side, a rebound above Feb 10 high of $0.7249 would expose Jan 20 high of $0.7277.

  • RBA Gov Lowe flagged rising interest rates as a possible area of risk to global financial stability, given elevated debt levels and a big run up in asset prices. The Governor spoke at a G20 side event and refrained from commenting on domestic matters.
  • Focus moves to completed construction work & wage price data, both due Wednesday, as well as private capex, due Thursday. Separately, RBA Asst Gov Kent will speak to Australian Financial Markets Association on Tuesday.
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