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 MBA: MARKET COMPOSITE +5.4% SA THRU DEC 06 WK

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

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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Bullion Slightly Higher, Watch Fed Events Later In Week

GOLD

Gold prices rose 0.3% on Friday to be up on the week and during APAC trading today they’re stable at around $1844.55/oz (+0.25%), close to the intraday high after a low of $1837.38, despite geopolitical tensions related to North Korea. The USD is also flat.

  • Bullion is currently in a bear trend and in a corrective cycle. It remains below its 50-day simple moving average.
  • The US is closed today for the President’s holiday. There is euro area preliminary consumer confidence for February later. Importantly for gold, the FOMC minutes are published Wednesday and there are Fed speakers over the rest of the week. Preliminary February PMIs and US January consumer spending are also scheduled.
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