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

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

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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EQUITY TECHS: E-MINI S&P: (Z4) Trend Needle Points North

EQUITY TECHS
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • RES 4: 6200.00 Round number resistance
  • RES 3: 6184.00 1.000 proj of the Nov 4 - 11 - 19 price swing   
  • RES 2: 6145.26 1.236 proj of the Aug 5 - Sep 3 - 6 price swing   
  • RES 1: 6111.00 High Dec 6      
  • PRICE: 6062.50 @ 14:38 GMT Dec 10
  • SUP 1: 6014.79 20-day EMA      
  • SUP 2: 5919.51 50-day EMA 
  • SUP 3: 5855.00 Low Nov 19  
  • SUP 4: 5814.75 Low Nov 6

The S&P E-Minis contract maintains a bullish tone and short-term pullbacks are considered corrective. Recent gains confirm a resumption of the uptrend and signal scope for a continuation near-term. Note that moving average studies are in a bull-mode set-up, highlighting a dominant uptrend and positive market sentiment. Sights are on 6145.26, a Fibonacci projection. Initial support to watch lies at 6014.79, the 20-day EMA.

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  • RES 4: 6200.00 Round number resistance
  • RES 3: 6184.00 1.000 proj of the Nov 4 - 11 - 19 price swing   
  • RES 2: 6145.26 1.236 proj of the Aug 5 - Sep 3 - 6 price swing   
  • RES 1: 6111.00 High Dec 6      
  • PRICE: 6062.50 @ 14:38 GMT Dec 10
  • SUP 1: 6014.79 20-day EMA      
  • SUP 2: 5919.51 50-day EMA 
  • SUP 3: 5855.00 Low Nov 19  
  • SUP 4: 5814.75 Low Nov 6

The S&P E-Minis contract maintains a bullish tone and short-term pullbacks are considered corrective. Recent gains confirm a resumption of the uptrend and signal scope for a continuation near-term. Note that moving average studies are in a bull-mode set-up, highlighting a dominant uptrend and positive market sentiment. Sights are on 6145.26, a Fibonacci projection. Initial support to watch lies at 6014.79, the 20-day EMA.