MNI China Daily Summary: Tuesday, Dec 3

MNI BRIEF: China-Based UK Firms Facing Challenges

MNI: PBOC Net Drains CNY248 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1996 Tue; -1.92% Y/Y

MNI NBP WATCH: Another Policy Hold, Dovish Communications Tilt

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

MNI: US BLS: JOLTS OPENINGS RATE 7.744M IN OCT

MNI: US BLS: JOLTS QUITS RATE 2.1% IN OCT

MNI: US REDBOOK: NOV STORE SALES +5.5% V YR AGO MO

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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Continues To Outperform

SEK

SEK remains the G10 outperformer on the back of a slightly lower USD, firmer European equities and somewhat stronger than expected GDP data this morning.

  • While the GDP indicator was lower on the month, positive M/M consumption and private sector production were welcomed.
  • NOKSEK is off of daily lows, but remains ~0.9% lower on the day with most gains made yesterday now erased.
  • EURSEK is only slightly lower as the EUR also benefits from the softer USD environment - the pair trades between the 200-day EMA at 11.5031 and 100-day EMA at 11.6722, as it has done for all of October.
  • Tomorrow, the Riksbank's Bunge speaks, before Thursday sees inflation expectations from Prospera. Friday is the main focus, with September CPI followed by the Riksbank's first update on the progress of its FX hedging programme.
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