MNI China Daily Summary: Thursday, December 12

RPT-MNI BOC WATCH: More Gradual Approach Seen After 50BP Cut

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

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 Stronger After Spate Of Stronger Data

FOREX

Markets have been rangebound so far with an early move higher in high beta currencies retraced. AUD/USD is down 4 pips and sticking to its US session range. The local data docket will be headlined by private sector credit for June and Q2 PPI data later in the session.

  • NZD/USD is flat. New Zealand building permits for June rose 3.8% M/M against a 2.8% decline in May, the New Zealand consumer confidence index for July fell to 113.1 from 114.1.
  • JPY is slightly stronger, USD/JPY down 8 pips. Data earlier showed the unemployment rate for June was slightly better than forecasts at 2.9%, while industrial production for June rose above estimate at 6.2%. Continuing the spate of better-than-expected data retail sales for May rose 3.1% compared to 2.7% expected. Elsewhere there were reports that Japan will extend state of emergency declarations to Osaka, Saitama, Chiba and Kanagawa today.
  • Offshore yuan is slightly weaker but holding the majority of Thursday's gains. USD/CNH is up 22 pips but hovering around the lowest levels since July 15. Markets will watch the PBOC OMO's today and await official PMI figures over the weekend.
  • Looking further ahead markets await Eurozone GDP and CPI data, with personal consumption expenditures data due from the US.
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.