MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

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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Flirting with the 20-day EMA

EGBS

After the Eurozone PMI was also on the weak side, EGBs continue to lead global core fixed income higher. Larger risk-off sentiment from the Ukraine situation is also helping core FI move higher.

  • Bund futures have broken above the 170.70 20-day EMA our technical analyst had highlighted as the first resistance level. The next level to the upside will be the 171.00 psychological level / 13 January high.
  • BTP futures continue to challenge the 20-day EMA level, too. This comes in at 146.44. Above here is the January 14 high of 164.80 which is the key short-term resistance.
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