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

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

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

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

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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CAD Reverses Course on Oil Drop

FOREX

After a decent start to the week, WTI and Brent futures reversed into the NYMEX close, undermining early CAD strength and pressuring the currency to the bottom end of the G10 table. Weight went through in WTI and Brent crude futures following OPEC's outlook update in which they see daily global fuel demand dropping by around 1mln barrels per day across the first quarter of next year.

GBP was among the strongest currencies Monday, as markets welcomed the decision to extend trade deal negotiations as a sign that middle ground can be met before the end of the transition period on Dec31. Betting markets now see a trade deal as the odds-on outcome.

Chinese industrial production & retail sales data are due Tuesday as well as the UK jobs numbers for November. US import/export price indices and industrial production numbers also cross.

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