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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Bearish Outlook

EURJPY TECHS
  • RES 4: 148.40/45 High Oct 21 and the bull trigger / High Dec 15 2014
  • RES 3: 147.75 High Oct 31
  • RES 2: 147.10 High Nov 9 and a key near-term resistance
  • RES 1: 146.14 High Nov 24
  • PRICE: 144.34 @ 06:51 GMT Nov 25
  • SUP 1: 143.35 Low Nov 14
  • SUP 2: 142.57 Low Nov 11 and the bear Trigger
  • SUP 3: 141.60 61.8% retracement of the Sep 26 - Oct 21 bull leg
  • SUP 4: 140.90 Low Oct 10

EURJPY remains below Wednesday’s high of 146.14. The cross has failed to confirm a clear break of short-term trendline resistance drawn from the Oct 21 high. Key near-term resistance at 141.10 also remains intact, Nov 9 high. This cements the underlying bearish threat, which holds as long as price remains below the short-term trendline resistance that intersects at 145.69 today. An extension lower would open the bear trigger at 142.57, Nov 11 low.

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