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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FOREX SUMMARY

FOREX

A busy early morning session for FX and across assets.

  • USD came under renewed pressure throughout the EU morning session.
  • Price action was led by some of the US run=offs results, with Warnock announced as the first winner.
  • It also looks more than likely that the Dems will win the 2nd seat, as Ossoff moves ahead.
  • Stimulus hope keeps the USD under renewed pressure.
  • Despite some European National PMI misses this morning, EUR has taken its cue from the USD selling.
  • EUR leads against JPY, but another small round of USD selling goes through.
  • Still worth keeping a close eye on EUR appreciation and the ECB going forward.
  • Couple of close resistance for the currency are nearing.
  • EURJPY comes at 127.08 (dec 18 high)
  • EURUSD 1.2353 High Apr 20, 2018
  • A more limited impact for Cable, with the pair up 0.21% at 1.3652.
  • Next resistance here is still at 1.3704 High Jan 4 where decent selling interest has been noted of late.
  • Looking ahead, US ADP, Service PMI, Durable goods are the highlight, as well as the FOMC minutes
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