MNI China Daily Summary: Friday, December 27

MNI BRIEF: BOJ: Rate Hike Chance Nearing; Mull Patiently

MNI: PBOC Net Injects CNY6.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1893 Fri; -2.12% Y/Y

MNI JAPAN NOV FACTORY OUTPUT DROPS 2.3% M/M; OCT +2.8%

MNI JAPAN NOV JOBLESS RATE AT 2.5%, UNCHANGED FROM OCT

US EIA:NAT GAS STORAGE -93 BCF TO 3,529 BCF DEC 27 WK

MNI: US JOBLESS CLAIMS -1K TO 219K IN DEC 21 WK

MNI: US REDBOOK: DEC STORE SALES +5.0% V YR AGO MO

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Lula Still Being Advised To Consider External Candidates For Next BCB Head

BRAZIL
  • While BCB Director Gabriel Galípolo remains the favourite to be named as the new head of the BCB, Valor Economico reports that Lula’s aides and allies are still attempting to persuade him to consider someone from outside of the institution. They argue that an external candidate would provide a greater contrast to the current administration and would be well-received by the market.
  • According to the article, one of the names being considered is Marcelo Kayath, former director of Credit Suisse and founder of QMS Capital. Another external candidate being mentioned is Candido Bracher, former CEO of Itaú, while former BCB director Luiz Awazu Pereira, who worked until last year at the BIS, is also being considered. The article suggests that Lula is being advised to name Campos Neto’s successor in August to ensure a smooth transition.
    • Amidst poorer sentiment for EM FX today, USDBRL has risen 0.3% to around 5.45. The pair has been broadly respecting support at the 50-day EMA, which lies at 5.3526.
    • Following the earlier-reported 0.25% m/m (+1.3% y/y) increase in economic activity in May, weekly trade balance data are due at 1900BST. Mid-month IPCA inflation data follow next week, ahead of the next Copom meeting on July 31.
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