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

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

JPY Slips After Suga Declares Intention To Step Down, CNH Extends Losses After Soft Caixin PMI

FOREX

Volatility in G10 FX space was characteristically subdued in the pre-NFP Asia-Pac session, but the news that Japan's PM Suga will not seek re-election as ruling party leader provoked some two-way movement in the yen, with the currency landing near the bottom of the G10 scoreboard as a result.

  • Suga communicated his decision at a snap meeting of ruling party executives today, citing the need to focus on handling the outbreak of Covid-19 matters. The LDP will hold their leadership contest on Sep 29. The winner is virtually certain to become Japan's next PM.
  • USD/CNH climbed in the lead-up to the release of China's Caixin Services PMI and extended gains after an unexpected contractionary reading. The disappointing print came after the Caixin Manufacturing gauge published earlier this week also registered below the 50 breakeven level.
  • The U.S. NFP report takes centre stage on the data front, albeit a slew of Services PMIs from across the globe are also due.
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.