MNI: UK NOV FINAL MANUF PMI 48.0 (FLASH 48.6); OCT 49.9

MNI: EUROZONE NOV FINAL MANUF PMI 45.2 (FLASH 45.2); OCT 46.0

MNI: GERMANY NOV FINAL MANUF PMI 43.0 (FLASH 43.2); OCT 43.0

MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1865 Mon; -1.50% Y/Y

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 29

MNI: FRANCE NOV FINAL MANUF PMI 43.1 (FLASH 43.2); OCT 44.5

MNI: ITALY NOV MANUF PMI 44.5 (FCST 46.0); OCT 46.9

MNI: SPAIN NOV MANUF PMI 53.1 (FCST 54.0); OCT 54.5

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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Greenback Rally Pauses

FOREX

US dollar strength has taken a breather in Asia on Tuesday, while risk sentiment in the region is mixed.

  • The greenback continued to strengthen on Monday, driven by higher real yields and political theatre in the US with US House Speaker Pelosi saying last night the House intends to bring impeachment action against Trump this week. US stocks finished in the red.
  • AUD & NZD are both higher, moving alongside equity indices in the region. AUD/USD hovers around the key 0.77 level, while NZD/USD looks to make a challenge of 0.72. Headline flow from the region has been thin, New Zealand did announce plans to tighten coronavirus detection measures for travellers.
  • JPY is broadly flat. Trade data today from Japan showed November's surplus rose to JPY 616bn against JPY 474bn expected, but lower than the JPY 971 in October. Bank lending data was also released which showed bank lending excluding trusts rose 5.9% in December, in line with October.
  • The PBOC drained a net CNY 5bn from the system today, and fixed USD/CNY at 6.4823 around 59 pips higher than yesterday. The PBOC has weakened the yuan 115 pips so far this week. Chinese equity markets are lower today as risk sentiment takes a hit after losses yesterday. Something to keep an eye on though, 1 month CNH implied volatility has risen to 5.375%, the first gain in 4 days.
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