MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

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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Crude Weaker Again Today, Tuesday Contains Key Events

OIL

Oil is down around 0.8% during APAC trading after falling 1.1% on Friday, as the market remained nervous regarding US debt ceiling negotiations and China’s lacklustre recovery. It is now down over 5% since the May 9 close. Brent is now around $73.58/bbl while WTI is under $70 at $69.50. The USD index is flat so far today.

  • Brent and WTI remain above support levels of $71.28 and $68.43 respectively.
  • Key events for crude this week include a swathe of data relating to China’s domestic economy and the IEA monthly outlook both released on Tuesday, as the demand outlook has been a key concern for oil markets. There is also US API inventory data on the supply side.
  • Later today the European Commission releases updated economic forecasts. There is also March euro area IP data and the US New York Empire manufacturing index for May.
Energy BulletsCommodities
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