MNI China Daily Summary: Friday, November 15

MNI BRIEF:China Optimistic On Property Despite Investment Fall

MNI BRIEF: China Oct Retail Sales Surge On Holiday, Trade-ins

CORRECTED-MNI INTERVIEW: NBH To Hold Rates

CHINA OCT INDUSTRIAL OUTPUT +5.3% Y/Y VS MEDIAN +5.5% Y/Y: NBS

MNI: PBOC Net Injects CNY968.8 Bln via OMO Friday

MNI: FRANCE OCT HICP +0.3% M/M, +1.6% Y/Y

MNI: UK Q3 GDP +0.1% Q/Q, +1% Y/Y

MNI: UK SEP TRADE BALANCE GBP -3.46BN

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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Koruna Lags Most EMEA Peers After Release Of Soft CPI Data

PLN

EUR/CZK has been pushed higher by the publication of softer-than-expected CPI data, with headline inflation printing at +6.9% Y/Y, below Bloomberg's consensus forecast (+7.3%) and the CNB's projection (+7.0%). Inflation is expected to ease off further in the coming months as comparative base effects dissipate.

  • The CNB will release its comments on the latest round of CPI data at 12:00GMT/13:00CET. The statement will include an estimate of core CPI as well as a comparison of the observed data with the CNB's latest forecast. This comes as market participants are trying to figure out the pace of the CNB rate-cutting cycle.
  • CZGB yields are broadly lower, curve runs steeper, with the space reacting to the local CPI report. Czech FRAs have fallen sharply across the maturity curve amid dovish repricing of the trajectory of CNB rate cuts. The central bank will hold its next monetary policy meeting on February 8.
  • EUR/CZK last deals +0.072 at 24.661, with bulls eyeing resistance from Jan 2 high of 24.867. Conversely, bears look for a break below the 50-EMA at 24.526.
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