MNI China Daily Summary: Friday, January 10

MNI BRIEF: China To Adopt Very Proactive Fiscal Policy-Offical

CANADA LIBERAL LEADERHIP VOTE TO REPLACE TRUDEAU SET FOR MAR 9

MNI BRIEF: PBOC Suspends Bonds Trades As Yields Drop

MNI: PBOC Net Drains CNY14.8 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1891 Fri; -2.36% Y/Y

USDA: CORN STOCKS 12,074M BSL ON JAN 1

MNI: USDA: 2024/2025 CORN PRODUCTION EST 14.87B BSL

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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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FOREX: Narrow Ranges In Play

FOREX
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No real change in tone in FX markets since our previous update, BBDXY a touch firmer on the day but still comfortably below Friday’s highs.

  • JPY still weaker against all G10 peers, USD/JPY recently hit fresh session highs at 156.80 before fading back to 156.75.
  • Initial resistance at Friday’s high (157.93) remains some distance away.
  • JPY traders look to BoJ Governor Ueda’s Christmas Day speech and Friday’s Tokyo CPI data.
  • EUR/USD now little changed at 1.0430. Initial support & resistance at 1.0343/1.0501.
  • No real impact on GBP after marginal negative revisions in the final Q3 UK GDP data.
  • U.S. durable goods and consumer confidence data headline the macro calendar today, little of note scheduled from Europe.
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No real change in tone in FX markets since our previous update, BBDXY a touch firmer on the day but still comfortably below Friday’s highs.

  • JPY still weaker against all G10 peers, USD/JPY recently hit fresh session highs at 156.80 before fading back to 156.75.
  • Initial resistance at Friday’s high (157.93) remains some distance away.
  • JPY traders look to BoJ Governor Ueda’s Christmas Day speech and Friday’s Tokyo CPI data.
  • EUR/USD now little changed at 1.0430. Initial support & resistance at 1.0343/1.0501.
  • No real impact on GBP after marginal negative revisions in the final Q3 UK GDP data.
  • U.S. durable goods and consumer confidence data headline the macro calendar today, little of note scheduled from Europe.