MNI China Daily Summary: Thursday, December 12

RPT-MNI BOC WATCH: More Gradual Approach Seen After 50BP Cut

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

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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Gains In Early Trade, Mfg PMI On Tap

INR

The Rupee has firmed in early dealing USD/INR is down ~0.2%.

  • The pair sits at 82.62/63, yesterday's low has been breached as onshore markets reopen after yesterday's Q2 GDP which printed at 7.8% Y/Y the strongest level in a year.
  • Bears look to target the 200-Day EMA (81.8662). Bulls target the high from 20 October 2022 (83.2975).
  • Global investors purchased a net of $1.6bn in local equities in August, which marked a sixth straight month of inflows into Indian stocks. With this year’s inflows, foreigners are now just $137 million shy of reversing their record $17 billion exodus from the nation’s equities in 2022.
  • On the wires today we have S&P Global Mfg PMI for August, there is no estimate and the prior read was 57.7.
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