MNI China Daily Summary: Wednesday, November 27

MNI: GERMANY GFK DECEMBER CONSUMER CLIMATE -23.3

MNI BRIEF: BOJ’s JGB Unrealised Loss Rises To JPY13.7 Tlrn

RPT:- MNI NOV CHINA MONEY MARKET INDEX 53.5 VS OCT 38.4

MNI NOV CHINA MONEY MARKET INDEX 53.5 VS OCT 38.4

MNI BRIEF: China Profits Fall In October Y/Y

MNI: US Q3 GDP +2.8%

MNI:US OCT DURABLE NEW ORDERS +0.2%; EX-TRANSPORTATION +0.1%

MNI: US JOBLESS CLAIMS -2K TO 213K IN NOV 23 WK

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

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JPY Remains Weaker Despite BoJ Concern

FOREX
  • For a third consecutive session, JPY is the poorest performing currency in G10, with USD/JPY securing a break above the multi-decade downtrendline drawn off the December 1975 high. Moves come alongside the Bank of Japan issuing caution over the weaker currency, with the central bank concerned that high energy import costs could crimp corporate profits and household spending.
  • Elsewhere, GBP trades more favourably, with markets shrugging off a lower-than-expected monthly GDP reading in favour of strong industrial and manufacturing data for August. GBP/USD trades around 60 pips off the week's lowest levels, and now needs to top 1.3674 to secure any further progress.
  • Equity futures trade in minor positive territory, with the e-mini S&P higher by 5-10 points ahead of the unofficial beginning of the earnings cycle. JPMorgan and BlackRock are the key reports Wednesday, with more financials names following on Thursday.
  • US CPI takes focus going forward, with markets expecting CPI to hold at an above-target 5.3%. Core is also seen inline with the prior at 4.0%.
  • Fed minutes cross later in the session, with markets focusing on the prospects for a November taper announcement. Central bank speakers due Wednesday also include BoE's Cunliffe and Fed's Brainard.
Energy BulletsCommoditiesBank of Japan (BOJ) Market News
Energy BulletsCommoditiesBank of Japan (BOJ) Market News

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