MNI China Daily Summary: Monday, November 25

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 22

MNI: PBOC Net Injects CNY76.7 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1918 Mon; -1.35% Y/Y

CHINA PRESS: Yuan To Reach 17% Of Global Payments By 2035

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, DE Due on Tuesday

MNI: GERMANY NOV IFO BUSINESS CLIMATE INDEX 85.7

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

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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NEER Marginally Firmer, PMI Ticks Lower In May

SGD

The SGD NEER (per Goldman Sachs estimates) is marginally firmer this morning, but we remain well within recent ranges. We now sit ~0.8% below the upper end of the band.

  • On the wires a short time ago the S&P Global Singapore May PMI ticked lower to 54.5 from 55.3. There was no estimate for the print and we remain comfortably within expansionary territory.
  • USD/SGD prints at $1.3490/95, the pair fell below the $1.35 handle yesterday and has consolidated in a narrow range below it this morning. The pair sits between the 200-Day EMA ($1.3511) and the 20-Day EMA ($1.3459).
  • On the upside bulls target a break of the 200-Day EMA, which opens up high from 31 May at $1.3562.
  • Bears first look to break the 20-Day EMA, to target the low from May 10 ($1.3227).
  • Looking ahead, on the wires tomorrow we have May Foreign Reserves.
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