MNI China Daily Summary: Wednesday, November 20

MNI BRIEF: Chinese Aluminium Exporters To Renegotiate Prices

MNI BRIEF: BOJ October Real Export Index Falls 4.9% M/M

MNI: PBOC Net Injects CNY69.1 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1935 Weds; +0.09% Y/Y

CHINA PBOC CONDUCTS CNY302.1 BLN VIA 7-DAY REVERSE REPOS WEDS

MNI: EUROZONE SEP CONSTRUCTION OUTPUT -0.1% M/M, -1.6% Y/Y

MNI: GERMANY OCT PRODUCER PRICES -1.1% Y/Y

MNI: UK OCT CPI +0.6% M/M, +2.3% Y/Y

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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LATAM FX: Andean FX Outperforming On Commodity Strength

LATAM FX
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  • The rebound in commodity prices is helping Andean FX to outperform today, with CLP up around 1.1% against the dollar and COP gaining 0.5%. PEN is lagging the move (+0.35%), ahead of the BCRP monetary policy meeting this evening, when another 25bp cut is expected. For a full MNI preview of the meeting see here.
  • USDCLP has fallen to first support at 932.05, the 50-day EMA, with key support remaining much further below current levels at 904.48, the Aug 26 low. On the upside, attention is on 953.93, the Aug 6 high.
  • USDCOP has dipped back below 4245, having briefly pierced the 4300 level earlier this week, the highest since October last year. Tomorrow’s BanRep economist survey will indicate whether analysts expect the central bank to step up its easing pace later this month.
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  • The rebound in commodity prices is helping Andean FX to outperform today, with CLP up around 1.1% against the dollar and COP gaining 0.5%. PEN is lagging the move (+0.35%), ahead of the BCRP monetary policy meeting this evening, when another 25bp cut is expected. For a full MNI preview of the meeting see here.
  • USDCLP has fallen to first support at 932.05, the 50-day EMA, with key support remaining much further below current levels at 904.48, the Aug 26 low. On the upside, attention is on 953.93, the Aug 6 high.
  • USDCOP has dipped back below 4245, having briefly pierced the 4300 level earlier this week, the highest since October last year. Tomorrow’s BanRep economist survey will indicate whether analysts expect the central bank to step up its easing pace later this month.