MNI: PBOC Net Drains CNY296 Billion via OMOs Friday

CHINA PBOC INJECTS CNY23 BILLION VIA 7-DAY REVERSE REPOS FRI: WIND

CHINA SETS YUAN CENTRAL PARITY AT 6.7382 FRI VS 6.7130

Australia Dec Housing New Loan Commitments -4.3%

MNI: FED BALANCE SHEET TOTAL ASSETS -$37B TO $8.437T

Coming up in the Asia-Pac session on Friday

(RPT)MNI INTERVIEW: BOC In One And Done Zone - Chamber

Rpt- MNI INTERVIEW: BOC Losses May Dent Inflation Fight- Tombe

MNI BRIEF: EU Sees Statement After UK-EU Talks This Afternoon

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Narrow Ranges In The Asian Session

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Australia Dec Housing New Loan Commitments -4.3%

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China Repo Rates Diverge On Friday

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CHINA PBOC INJECTS CNY23 BILLION VIA 7-DAY REVERSE REPOS FRI: WIND

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CNY Fixing: Still Modestly Firmer

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CHINA SETS YUAN CENTRAL PARITY AT 6.7382 FRI VS 6.7130

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Banxico Provide Identical Guidance, Minutes Awaited For December Signals

MEXICO
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  • Another Banxico decision comes and goes with little new juicy information to scrutinise. The statement acknowledges that headline inflation has slowed but the board remain aware of the upwards trajectory for core prices. They do also recognise the ongoing strength of the super Peso, which has been “showing greater resilience than other currencies”.
  • The marginally dovish Esquivel dissent is notable but not all together surprising given his recent comments and I would expect for there to be a good amount of discussion for upcoming decoupling from the Fed in the minutes on November 24. Whether decoupling will be entirely necessary given today’s US data is another topic for discussion.
  • The statement provided the usual caveat that at coming meetings, “the Board will assess the magnitude of the upward adjustments to the reference rate based on the prevailing conditions.”
  • The December Banxico meeting falls on December 15 (one day after the FOMC decision) with the November inflation data due for release on December 08.
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  • Another Banxico decision comes and goes with little new juicy information to scrutinise. The statement acknowledges that headline inflation has slowed but the board remain aware of the upwards trajectory for core prices. They do also recognise the ongoing strength of the super Peso, which has been “showing greater resilience than other currencies”.
  • The marginally dovish Esquivel dissent is notable but not all together surprising given his recent comments and I would expect for there to be a good amount of discussion for upcoming decoupling from the Fed in the minutes on November 24. Whether decoupling will be entirely necessary given today’s US data is another topic for discussion.
  • The statement provided the usual caveat that at coming meetings, “the Board will assess the magnitude of the upward adjustments to the reference rate based on the prevailing conditions.”
  • The December Banxico meeting falls on December 15 (one day after the FOMC decision) with the November inflation data due for release on December 08.