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 NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI: US NOV SUPERCORE CPI (CORE SERVICES EX-HOUSING) 0.342%

MNI: US NOV CPI UNROUNDED M/M 0.313%, CORE 0.308%

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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COP and CLP Show Strong Divergence in Reaction to Local Developments

LATAM FX
  • Mixed sentiment across Andean FX in Latin America has been evident on Friday as local headlines spur short-term currency reactions. An initial spike for USDCOP was naturally a result of S&P revising the sovereign rating outlook to negative, with the spot rate printing as high as 3962 before then paring the majority of these gains. One desk noted this morning that they expect COP to give back some of its recent gains, though 4,000 will offer resistance.
    • USDCOP up 0.02% at 3919.07
  • In contrast, USDCLP is consolidating its sharp drop following Hacienda’s announcement that it will resume USD sales. Maximum daily amounts were not detailed in the release and will be monitored over coming weeks to assess the short-term impact of the renewed supply. An extension of the copper price recovery from late Thursday will be adding an additional CLP tailwind. In Chile, Finance Minister Mario Marcel and Labor Minister Jeannette Jara will attend to the Finance Committee of the Chamber of Deputies in order to continue the vote on the pension reform bill.
    • USDCLP down 0.8% at 910.65
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