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CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

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MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Budget Bill Expected To Be Presented, Iron Ore Extends Bounce

BRAZIL
  • Latest: *Bolsonaro Says He Hopes Brazil Precatorios Bill Is Approved (BBG)
  • A bill that makes room in Brazil's budget for President Bolsonaro administration's new social program is expected to be presented today.
  • The DI curve rallied back after Monday's selloff. Swap rates in the belly and long end fell close to 25 basis points as the currency also had a near 2% recovery from initial weak price action for BRL. USDBRL remains confined to the following range; 5.3885, Nov 11 low and the bull channel base intersection and the channel top at 5.7794.
  • Markets also await an opinion poll conducted by Modalmais and Futura Inteligencia survey on voting intentions for next year's October presidential elections, expected to be released in the afternoon.
  • Iron ore futures in Singapore extended their rally as concerns about some pollution curbs in China were offset by growing optimism on the demand outlook from the nation's real estate sector.
    • China's top economic official called for measures to stabilize house prices as the property market slowdown continues to weigh on the economy.
    • Iron Ore futures extended their winning streak to four days which is providing some support for the likes of Vale and a small reprieve for the Ibovespa index.
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