MNI China Daily Summary: Thursday, Dec 5

MNI: UK NOVEMBER CONSTRUCTION PMI 55.2 (FCST: 53.5); OCT 54.3

MNI: EUROZONE NOVEMBER CONSTRUCTION PMI 42.7 OCT 43.0

MNI BRIEF: China Construction Output Slows In November

MNI: PBOC Net Drains CNY153 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Lower At 7.1879 Thurs; -1.82% Y/Y

MNI: EUROZONE OCT RETAIL SALES -0.5% M/M, +1.9% Y/Y

MNI: FRANCE OCT INDUSTRIAL PRODUCTION -0.1% M/M, -0.6% Y/Y

MNI: GERMANY OCT FACTORY ORDERS -1.5% M/M

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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DI Curve Dis-inverts Following BCB Statement

BRAZIL
  • Following the BCB decision/statement on Wednesday, the DI curve bull steepened from its inverted state. Jan-23 DIs fell around 25 basis points with the belly of the curve shifting around 10bps. Further out the curve remained broadly unchanged. Some initial BRL weakness was well supported with USDBRL remaining on the backfoot below 5.30.
  • Domestic focus continues to be on the government’s attempt to pass a bill allowing a reduction on fuel taxes without any fiscal compensation, which would impact the country’s fiscal outlook.
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