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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EURHUF Up 0.75% at Open, Technical Downtrend Remains Intact

HUNGARY
  • EURHUF trades 0.75% higher at the open after price action earlier this week saw the cross pierce the 380.00 psychological handle and print a new 9-month low at 377.15. Pessimistic comments from Development Minister Navracsics over Hungary’s chances of unfreezing the $30b of frozen EU funds may provide headwind to forint gains.
  • Technical trend conditions nevertheless remain bearish. The breach of the 384.43 Feb 3 low has confirmed a resumption of the downtrend and opens 376.06, a 1.236 price swing projection. 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 394.03. A clear break of the EMA is required to signal scope for a stronger recovery - towards 401.20, the Nov 17 high.
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