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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EUR Boosted as Market Eyes Kazaks Comments

FOREX
  • EUR/USD saw support all the way higher to 1.2090 early Friday as markets watched comments from ECB's Kazaks, who stated that a decision could be made slow the ECB's bond-buying programme as soon as June, adding that the ECB may not spend the entirety of their pandemic program envelope.
  • These comments underpinned early EUR gains, although SEK and NOK remain firmer on the day.
  • Separately, GBP trades well, with GBP/USD nearing 1.3930 following regional and by-election results in the UK that showed the Conservative Party firming their lead on the opposition.
  • Today's jobs report takes focus going forward, with markets expecting gains of 1mln jobs across April, pressing the unemployment rate lower by 0.2 ppts to new post-pandemic lows of 5.8%.
  • The Canadian jobs report also crosses, with CAD continue to pressure new cycle highs. April is expected to have seen job losses in Canada, boosting the unemployment rate up to 8.0%.
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