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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Breaks Above 66c Couldn’t Be Sustained, Gains Seen As Corrective

AUD

AUDUSD broke through 66c a couple of time on Friday but the moves were brief and a high of only 0.6602 was reached. The pair was one of the better outperformers though, as US equity markets rallied, rising 0.4% to 0.6597 but has started the week lower at 0.6590. The USD index fell 0.3% but ended the week 0.8% higher.

  • AUDUSD saw bearish price action last week and short-term gains are seen as corrective. The pair breached a trendline which strengthened the bearish theme. Key support is at 0.6526 and initial resistance 0.6639.
  • AUDNZD approached 1.08 but the high was just short at 1.0797. The pair rose 0.4% to 1.079 and is currently at 1.0781. AUDJPY was 0.4% higher at 97.74 and has started the session at 97.74. AUDEUR is 0.1% higher at 0.6050 and AUDGBP +0.3% to 0.5191.
  • Equity markets were mixed with the Euro stoxx down 0.1% but the S&P up 1.2%. Oil prices were lower with the WTI down 0.7% at $73.43/bbl. LME metal prices rose 0.3% to be down 0.5% on the week. Iron ore is just under $130/t.
  • Today there are no events or data in Australia with the focus of the week on Tuesday’s December NAB business survey.
BulletMarketsForeign Exchange BulletsHomepage
BulletMarketsForeign Exchange BulletsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.