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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Dollar Index +1% For The Week, As NFP Comes Into View

FOREX

Dips in the USD have generally been supported in the part of Friday trade. The BBDXY sits near session highs in recent dealings, last just above 1225.85.

  • At this stage the USD index is over 1% higher for the week, its best gain since July. Of course, we still have the US NFP report to navigate later. Recent highs in the index have run out of steam above 1226.
  • USD/JPY is leading the move higher, threatening to test above 145.00 (last 1244.90/95). US Tsy futures remain close to Thursday lows, but haven't broken to the downside yet. Data on Dec PMI revisions hasn't moved sentiment.
  • AUD and NZD are down by less at this stage. AUD/USD is near 0.6700 in latest dealings, which is close to Thursday lows. NZD/USD is just under 0.6230, also close to Thursday lows.
  • Looking ahead, highlights will be Eurozone inflation figures and the US employment report. Additionally, German retail sales, UK construction PMI and Canada jobs data are all scheduled.
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