MNI China Daily Summary: Tuesday, Dec 3

MNI BRIEF: China-Based UK Firms Facing Challenges

MNI: PBOC Net Drains CNY248 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1996 Tue; -1.92% Y/Y

MNI NBP WATCH: Another Policy Hold, Dovish Communications Tilt

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

MNI: SWISS NOV CPI -0.1% M/M, +0.7% Y/Y

MNI: TURKEY NOV CPI +2.24% M/M

MNI:AUSTRALIA Q3 CURR ACCT BALANCE -14149M

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Growth Proxies Strengthen Further, Retail Sales On Tap

FOREX
  • Commodity-tied and growth-proxy currencies are again outperforming, with AUD, NZD and CAD at the top of the G10 pile. A better-than-expected Australian jobs report helped set the tone, but persistent strength in oil, gold and copper this morning has buoyed sentiment further.
  • AUD/USD has now topped the Mar23 high to open resistance at 0.7774 (Mar19 high). USD/CAD is through the 1.25 handle to eye 1.2462, Mar 19 low (1.2365 is the bear trigger) and NZD/USD trades back above both the 50- and 100-dmas, with 0.7269 the key level going forward.
  • The USD outlook is more mixed, with the USD Index finding some modest support at the 50-dma, but stopped well short of any material recovery.
  • Focus turns to a slew of US data releases, with weekly jobless claims and retail sales numbers due as well as industrial production and the Philly Fed Business Outlook.
  • Central bank speakers due include Fed's Bostic, Daly, Mester and New York Fed's Logan who, while not on the Fed, will be a carefully watched speech today.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.