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) Trades Above The 20-Day EMA

BOBL TECHS
  • RES 4: 132.680 High Jan 31
  • RES 3: 132.287 50-day EMA
  • RES 2: 132.060 High Feb 3
  • RES 1: 131.630 Intraday high
  • PRICE: 131.460 @ 04:53 GMT Feb 21
  • SUP 1: 130.510 Low Feb 15
  • SUP 2: 130.080 Low Feb 10 and the bear trigger
  • SUP 3: 130.000 Psychological round number
  • SUP 4: 129.460 High Dec 7, 2015 (cont)

Bobl futures remain in a corrective cycle - price has traded above 131.360, the Feb 1 high and the 20-day EMA at 131.389. The underlying trend remains bearish though as highlighted by the moving average set-up and a clear bearish price sequence of lower lows and lower highs. Stronger gains would open 132.060, the Feb 3 high and 132.287, the 50-day EMA. A resumption of weakness would refocus attention on the 130.080 bear trigger.

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