MNI China Daily Summary: Friday, January 10

MNI BRIEF: China To Adopt Very Proactive Fiscal Policy-Offical

CANADA LIBERAL LEADERHIP VOTE TO REPLACE TRUDEAU SET FOR MAR 9

MNI BRIEF: PBOC Suspends Bonds Trades As Yields Drop

MNI: PBOC Net Drains CNY14.8 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1891 Fri; -2.36% Y/Y

MNI: FRANCE NOV INDUSTRIAL PRODUCTION +0.2% M/M, -1.1% Y/Y

MNI: FRANCE NOV CONSUMER SPENDING +0.3% M/M, +0.3% Y/Y

MNI: NORWAY DEC CPI -0.1% M/M, +2.2% 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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BRAZIL: CIBC Not Ruling Out BCB Intervention

BRAZIL
BulletEM BulletEmerging Market News
  • Adding to the earlier analyst views, CIBC have noted today’s lower liquidity amplifies the risks of a disorderly move, and do not rule out an intervention in the FX market.
  • Although tactical long BRL position could look attractive around 6.0, CIBC would stay on the sidelines as they assess the feasibility of the proposed revenue measures to offset the cost of the income tax exemption and the details of the spending cuts package.
  • Latest headlines:
  • “TEBET: THIS IS THE FISCAL ADJUSTMENT THAT IS POSSIBLE RIGHT NOW” (BBG)
  • “DURIGAN: GOVT HOPES TO APPROVE FISCAL PLAN IN CONGRESS THIS YR” (BBG)
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  • Adding to the earlier analyst views, CIBC have noted today’s lower liquidity amplifies the risks of a disorderly move, and do not rule out an intervention in the FX market.
  • Although tactical long BRL position could look attractive around 6.0, CIBC would stay on the sidelines as they assess the feasibility of the proposed revenue measures to offset the cost of the income tax exemption and the details of the spending cuts package.
  • Latest headlines:
  • “TEBET: THIS IS THE FISCAL ADJUSTMENT THAT IS POSSIBLE RIGHT NOW” (BBG)
  • “DURIGAN: GOVT HOPES TO APPROVE FISCAL PLAN IN CONGRESS THIS YR” (BBG)