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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BRL Extending Gains As Dollar Indices Dip Into Negative Territory

LATAM
  • BRL extending yesterday's strength as dollar indices dip into negative territory. The breach of the 50-day EMA at 5.2228 may signal scope for a deeper pullback towards 5.1644, the Aug 11 low.
  • Continuing the recent divergence USDMXN is seen 0.3% higher on the day. Tomorrow's domestic docket will be headlined by Mex Unemployment and Banxico minutes.
  • Fairly narrow ranges across the region as market participants sit on the sidelines ahead of Jackson Hole.
  • Attention will likely be paid to Fed's George, Bullard and Kaplan who are currently on Thursday's speaker schedule.
    • USDMXN up 0.32% at 20.2708
    • USDBRL down 0.68% at 5.2115
    • USDCLP up 0.12% at 783.57
    • USDCOP down 0.04% at 3865
    • USDPEN down 0.04% at 4.0903
    • USDARS up 0.05% at 97.49
    • BRLMXN up 1.01% at 3.89
    • Bbg Dollar Index down 0.01% at 1149.7
    • S&P E-Mini Future up 12 points (0.27%) at 4494.25
    • BBG Commodity Index up 0.3878 points (0.41%) at 94.7684
    • WTI Crude Oil (front-month) up $0.78 (1.15%) at $68.31
    • US 10-Yr yield is up 4.4 bps at 1.3373%
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