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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EU Sanctions Must Not Impinge Russia’s Nuclear Sector, Szijjarto Says

HUNGARY
  • Decisive action is needed to ensure that EU sanctions do not impinge on Russia's nuclear sector, foreign minister Szijjarto said, MTI report, adding that sanctions of this type would harm Hungary's national interests as well as global nuclear security. Hungary remain committed to their plan to expand the Paks nuclear facility with two Russian-made VVER reactors, and as such have opposed including nuclear power in any EU sanctions packages.
  • Average gross wages rose by an annual 18.1% in December (Est: +17.0%) versus +16.8% in November, data released this morning showed.
  • Technical trend conditions in EURHUF remain bearish following yesterday’s 0.50% move lower. 377.15, the Feb 14 low, marks immediate resistance. Below here, 370.55 marks the 76.4% Fibonacci retracement for the 2022 upleg. Initial resistance is at the 50-day EMA that intersects at 391.98, a clear break of which is required to signal scope for a stronger recovery.
  • Prime Minister Orban’s ruling Fidesz party will hold the second day of its summit discussing the legislative agenda for spring. There are no more scheduled speaker or data events planned for the rest of the day.
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