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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EURJPY TECHS: Trendline Support Remains Exposed

EURJPY TECHS
  • RES 4: 176.82 1.764 proj of the May 3 - 15 - 16 price swing
  • RES 3: 176.03 1.618 proj of the May 3 - 15 - 16 price swing
  • RES 2: 173.92/175.43 61.8% of the Jul 11 - 12 sell-off / High Jul 11
  • RES 1: 172.92 High Jul 16 
  • PRICE: 171.10 @ 16:40 BST Jul 17
  • SUP 1: 170.75 Low Jul 17
  • SUP 2: 170.42 Trendline drawn from the Dec 7 ‘23 low 
  • SUP 3: 169.13 Low Jun 19 
  • SUP 4: 167.53 Low Jun 14

The sharp sell-off in EURJPY on Jul 11, resulted in a breach of the 20-day EMA. The cross traded lower again Wednesday and remains soft. For now, short-term weakness appears to be a correction. The move down has exposed key support at 170.42, a trendline drawn from the Dec 7 ‘23 low. A clear break of this line would highlight a reversal. Key resistance and the bull trigger is 175.43, Jun 11 high. Clearance of this hurdle resumes the uptrend.      

Foreign Exchange Technical AnalysisAPACJapanCEEMEABulletGlobalForeign Exchange BulletsRegion

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