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

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Mixed Outlook for Stocks Helps Buoy Haven FX

FOREX
  • Equity markets are mixed early Monday, with mainland European indices failing to carry on the stronger stocks theme from the Asia-Pac session. As a result, JPY is firmer so far this morning, higher than all others in G10 ahead of the NY crossover.
  • USD/JPY's weakness has been modest, however, with the pair still above first support at the Y109.82 50-dma.
  • Growth proxies including AUD, NZD and NOK are among the weakest, although AUD/USD is still well clear of last week's lowest levels. $0.7410 acts as the first key level.
  • There's little in the way of tier one data Monday, with focus on the beginning of US earnings season (a number of bulge bracket banks report from Tuesday onwards) with Fed's Kashkari also speaking at 1700BST/1200ET.
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