MNI China Daily Summary: Friday, January 10

MNI BRIEF: China To Adopt Very Proactive Fiscal Policy-Offical

CANADA LIBERAL LEADERHIP VOTE TO REPLACE TRUDEAU SET FOR MAR 9

MNI BRIEF: PBOC Suspends Bonds Trades As Yields Drop

MNI: PBOC Net Drains CNY14.8 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1891 Fri; -2.36% Y/Y

USDA: CORN STOCKS 12,074M BSL ON JAN 1

MNI: USDA: 2024/2025 CORN PRODUCTION EST 14.87B BSL

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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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CHILE: Congress Approves 2025 Budget

CHILE
BulletEM BulletEmerging Market News
  • Congress has approved a CLP 82tn budget for 2025, up 2% from the amount for this year, according to a statement from the finance ministry last night. The statement said the budget aims to guarantee that needs for increased security are covered. The approved budget is CLP543.5bn ($573mn) smaller than an earlier draft, as previously noted, after the government trimmed planned spending growth next year from 2.7% provisionally.
  • USDCLP has opened moderately lower, with the pair trading around the 975 level, narrowing the gap to initial firm support at 970.14, the 20-day EMA. Data wise, no macro figures are due today, with month-end activity data expected tomorrow, including retail sales, IP and copper production.
  • In other news, La Tercera reports that pension reform is heading towards the final stretch, with the deadline for the Senate to approve the bill approaching in January. Senators of Chile Vamos have personally assumed the role of negotiating with the government on the two main issues, with reports that the government and opposition lawmakers are getting closer to a deal.
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  • Congress has approved a CLP 82tn budget for 2025, up 2% from the amount for this year, according to a statement from the finance ministry last night. The statement said the budget aims to guarantee that needs for increased security are covered. The approved budget is CLP543.5bn ($573mn) smaller than an earlier draft, as previously noted, after the government trimmed planned spending growth next year from 2.7% provisionally.
  • USDCLP has opened moderately lower, with the pair trading around the 975 level, narrowing the gap to initial firm support at 970.14, the 20-day EMA. Data wise, no macro figures are due today, with month-end activity data expected tomorrow, including retail sales, IP and copper production.
  • In other news, La Tercera reports that pension reform is heading towards the final stretch, with the deadline for the Senate to approve the bill approaching in January. Senators of Chile Vamos have personally assumed the role of negotiating with the government on the two main issues, with reports that the government and opposition lawmakers are getting closer to a deal.