MNI China Daily Summary: Tuesday, December 31

MNI China Press Digest Dec 31: PBOC, Panda Bonds, EVs

MNI: PBOC Net Injects CNY93.6 Bln via OMO Tues

CHINA DEC MANUFACTURING PMI 50.1 VS 50.3 IN NOV

MNI: PBOC Sets Yuan Parity Lower At 7.1884 Tues; -2.65% Y/Y

MNI: China CFETS Yuan Index Down 0.13% In Week of Dec 27

MNI:US OCT FHFA HPI SA +0.4% V +0.7% SEP; +4.5% Y/Y

MNI: US REDBOOK: DEC STORE SALES +5.5% V YR AGO MO

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

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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MXN Steady Following Brief Bout Of Weakness On Monday

MEXICO
  • A brief bout of MXN weakness on Monday was attributed to outflows tied to the expiration of Banxico swaps that reports suggest may still be catching participants off guard. After a week without any swaps expiration, Banxico has $1.6b in FX hedges maturing this week, with $400m due on Monday.
  • USDMXN rose from around 17.04 to print 17.18 but the pair has since moderated within the middle of that range. The pair has traded through support at the 50-day EMA, which intersected yesterday at 17.1314. A clear break of this average would signal scope for a deeper pullback. Major support remains at 16.6262, the Jul 28 low.
  • Later this week, July retail sales and economic activity will be published before Mid-September inflation data. The next Banxico rate decision is due on September 28.
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