MNI China Daily Summary: Friday, December 27

MNI BRIEF: BOJ: Rate Hike Chance Nearing; Mull Patiently

MNI: PBOC Net Injects CNY6.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1893 Fri; -2.12% Y/Y

MNI JAPAN NOV FACTORY OUTPUT DROPS 2.3% M/M; OCT +2.8%

MNI JAPAN NOV JOBLESS RATE AT 2.5%, UNCHANGED FROM OCT

US EIA:NAT GAS STORAGE -93 BCF TO 3,529 BCF DEC 27 WK

MNI: US JOBLESS CLAIMS -1K TO 219K IN DEC 21 WK

MNI: US REDBOOK: DEC STORE SALES +5.0% V YR AGO MO

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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FOREX: Conviction Lacking, But AUD Still Eyes Cycle Lows

FOREX
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  • The greenback is flat headed into the Friday NY open, with markets returning from the festive break to trade in a consolidative fashion - respecting recent ranges amid particularly light volumes.
  • Currency futures volumes show activity well below the already-subdued average for this time of day: EUR futures are 12% below, JPY 30% below, GBP 40% below and AUD 25% below what you'd expect to see at point.
  • Equity markets across Europe are slightly higher, in contrast with US futures which point to a lower open on Wall Street today. Infitting with softer US stock markets, AUD is poorest spot performer in G10, keeping AUD/USD on course for a test of 0.6199, the cycle low, on any further weakness.
  • Global bond markets are seeing slightly more interest, with the US 10y yield opting to reverse almost the entirety of yesterday's decline and rise back above 4.60% - although conviction looks lacking here with market depth likely particularly thin.
  • US trade balance data and wholesale inventories releases make up the rest of the quiet schedule.
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  • The greenback is flat headed into the Friday NY open, with markets returning from the festive break to trade in a consolidative fashion - respecting recent ranges amid particularly light volumes.
  • Currency futures volumes show activity well below the already-subdued average for this time of day: EUR futures are 12% below, JPY 30% below, GBP 40% below and AUD 25% below what you'd expect to see at point.
  • Equity markets across Europe are slightly higher, in contrast with US futures which point to a lower open on Wall Street today. Infitting with softer US stock markets, AUD is poorest spot performer in G10, keeping AUD/USD on course for a test of 0.6199, the cycle low, on any further weakness.
  • Global bond markets are seeing slightly more interest, with the US 10y yield opting to reverse almost the entirety of yesterday's decline and rise back above 4.60% - although conviction looks lacking here with market depth likely particularly thin.
  • US trade balance data and wholesale inventories releases make up the rest of the quiet schedule.