MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

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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(H2) Corrective Cycle Still In Play

SCHATZ TECHS
  • RES 4: 112.145 High Jan 24 and a key resistance
  • RES 3: 112.070 High Jan 27
  • RES 2: 112.020 High Jan 31
  • RES 1: 111.935 High Feb 18
  • PRICE: 111.860 @ 04:13 GMT Feb 21
  • SUP 1: 111.545/420 Low Feb 15 / Low Feb 11
  • SUP 2: 111.250/208 Low Feb 7 / 2.50 proj of Dec 20-Jan 19-24 swing
  • SUP 3: 111.185 Low Jun 26, 2015 (cont)
  • SUP 4: 111.140 Low Jun 11, 2015 (cont)

The trend direction in Schatz futures remains bearish however, the contract remains in a corrective cycle as the recovery from 111.250, the Feb 7 low extends. The contract has cleared the 20-day EMA and Friday probed the 50-day EMA. The latter average intersects at 111.888 and a clear break would signal scope for a stronger rally and open 112.145, Jan 24 high. A reversal lower would open 111.545 initially, the Feb 15 low.

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