MNI China Daily Summary: Thursday, December 12

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

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

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Greenback Slips Amid Subdued Volatility

FOREX

The greenback slipped in muted Asia-Pac trade, with the absence of market moving headlines leaving participants to reflect on familiar themes and resulting in particularly subdued volatility. Safe haven peers JPY and CHF were also weaker, despite continued spread of the Delta variant of coronavirus across the region. Nonetheless, the DXY seems poised for its second straight weekly gain, following the recent rounds of hawkish Fedspeak.

  • AUD rose to the top of G10 scoreboard despite Australia's deepening Covid-19 crisis, which saw NSW log another record increase in new infections (390). Canberra confirmed 2 further positive cases after ACT authorities identified 3,900 contacts linked to the outbreak in the capital.
  • Monthly University of Michigan survey provides the only point of note on today's global economic docket.
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