MNI China Daily Summary: Tuesday, November 5

MNI: UK OCT FINAL SRVCS PMI 52.0 (FLASH 51.8); SEP 52.4

MNI BRIEF: China NPC Press Conference Set For Nov 8

MNI BRIEF: China Warehousing Index Down In October

MNI: PBOC Net Drains CNY364.5 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Lower At 7.1016 Tues; +3.12% Y/Y

MNI: FRANCE SEP INDUSTRIAL PRODUCTION -0.9% M/M, -0.6% Y/Y

MNI: SWISS OCT UNEMPLOYMENT +2.8% M/M, +24.5% Y/Y

RBA BOARD REPEATS "NOT RULING ANYTHING IN OR OUT"

EUROPEAN FISCAL: DE 2025 Budget Gap Grows; Political Risk Is Rising

CANADA: Politics Week: Trudeau Facing More Internal Dissent And Departures

CANADA: Politics Week: Trudeau Faces More Pressure To Resign

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CZK: Koruna Snaps Winning Streak, PPI Report Indicates Normalisation

CZK
EM BulletCzech RepublicCentral and Eastern EuropeBulletGlobalEmerging Market NewsRegionCzechia

EUR/CZK has snapped a three-day losing streak and last deals +0.037 at 25.268. Should bulls manage to force a break above Oct 7 high of 25.381, they could target Aug 1 high of 25.525 again. Bears look for a resumption of losses and a move through the 50-DMA, which intersects at 25.159.

  • Czechia's industrial PPI marginally missed BBG consensus forecast, coming in at +0.6% Y/Y versus +0.7% expected. BHS Chief Economist Stepan Krecek told Seznam Zpravy that "the prices of agricultural and industrial producers are gradually stabilizing and are not creating any significant inflationary pressures."
  • CZGB curve runs slightly flatter, with 10s outperforming. The PX Index sits 0.3% below neutral levels.
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EUR/CZK has snapped a three-day losing streak and last deals +0.037 at 25.268. Should bulls manage to force a break above Oct 7 high of 25.381, they could target Aug 1 high of 25.525 again. Bears look for a resumption of losses and a move through the 50-DMA, which intersects at 25.159.

  • Czechia's industrial PPI marginally missed BBG consensus forecast, coming in at +0.6% Y/Y versus +0.7% expected. BHS Chief Economist Stepan Krecek told Seznam Zpravy that "the prices of agricultural and industrial producers are gradually stabilizing and are not creating any significant inflationary pressures."
  • CZGB curve runs slightly flatter, with 10s outperforming. The PX Index sits 0.3% below neutral levels.