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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BNM Mulls Loosening Policy, Malaysia May Allow Some Factories To Reopen

MYR

Spot USD/MYR has shed 57 pips as onshore Malaysian markets reopened in the wake of Wednesday's greenback sell-off. The rate last sits at MYR4.2275, with bulls looking for a jump above Jul 21 high of MYR4.2440, before targeting Jul 24, 2020 high of MYR4.2665. On the flip side, a deeper pullback under Jul 15 low of MYR4.1955 would please bears, clearing the way to Jul 12 low of MYR4.1810.

  • The latest MNI Insight piece touched upon the potential for a rate cut this year, as fiscal stimulus reaches its limit. See the full piece here.
  • Dep PM Ismail Sabri said that the gov't is considering permitting factories where more than 80% of staff have been fully vaccinated against Covid-19 to resume operations.
  • Malaysia declared a record 199 deaths from Covid-19 on Wednesday, while the gov't ordered to move all non-Covid patients in the Klang Valley to private hospitals, in order to free up some space for patients infected with the virus.
  • Focus in Malaysia moves to June CPI data, due Friday.
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