MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI BRIEF: Japan Nov Sentiment, Outlook Indexes Rise

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

MNI: China CFETS Yuan Index Down 0.36% In Week of Dec 6

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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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Improved Global Risk Sentiment, Strong Wage Data Boosts HUF

HUF
EURHUF softened as much as 0.2% at the start of the session, as Virag noted in an interview that the Feb 27 rate decision is “fully open” (see more above). Global sentiment is likely the key driver behind today’s price action, with strength in the major US and European benchmark equity indices (following the strong Nvidia earnings reported overnight) and greenback weakness all providing a tailwind to risk-sensitive currencies. Indeed, HUF performance is broadly in-line with that of its EMEA peers.
  • In addition to this morning’s single currency strength, average wage data for December is likely contributing to HUF outperformance at the margins, with the data coming in well above expectations and the first domestic release which may support the case for another 75bp cut following the weaker-than-expected CPI and GDP prints earlier in the month which instead strengthen the case for more aggressive easing.
  • But despite today’s moderate losses, the short-term outlook for EURHUF remains bullish with key support at 384.69 – the 50-day EMA – still some way off. Upside focus falls on 390.49, the Jan 30 high.
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