MNI China Daily Summary: Friday, December 27

MNI BRIEF: BOJ: Rate Hike Chance Nearing; Mull Patiently

MNI: PBOC Net Injects CNY6.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1893 Fri; -2.12% Y/Y

MNI JAPAN NOV FACTORY OUTPUT DROPS 2.3% M/M; OCT +2.8%

MNI JAPAN NOV JOBLESS RATE AT 2.5%, UNCHANGED FROM OCT

US EIA:NAT GAS STORAGE -93 BCF TO 3,529 BCF DEC 27 WK

MNI: US JOBLESS CLAIMS -1K TO 219K IN DEC 21 WK

MNI: US REDBOOK: DEC STORE SALES +5.0% V YR AGO MO

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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Greenback Extends Post-Bullard Move Higher

FOREX
  • Equities are weaker, with the USD stronger and yields retracing as the dust settles after a volatile Thursday session. Prevailing USD weakness that followed CPI has wholly reversed following Bullard's acutely hawkish comments after the London close, which continues to exert influence over markets this morning.
  • The USD Index has shown above the 50-dma, but is yet to make a convincing break above, and the considerable distance to the 2022 highs printed in late January leaves the greenback with a solid runway on any protracted rally.
  • AUD is the poorest performer so far, weaker against all others in G10 and putting EUR/AUD higher for a second session. The cross eyes near-term resistance at 1.6033 - the 50% retracement for the February downleg - and a consolidation above here opens 1.6226 over the more medium-term.
  • Lastly, JPY trades well amid equity market weakness, with a negative close across Asia-Pac markets feeding into lower futures across the US and Europe today.
  • The data slate is lighter for the rest of the session, with just the prelim Uni. of Michigan Confidence Survey due. Central bank speakers are similarly few and far between, but markets will be on watched for any further unscheduled commentary from FOMC members, after Bullard and Daly's impactful speeches yesterday.
Energy BulletsCommodities
Energy BulletsCommodities

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