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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Nordic Q3 Power Rises

POWER

Nordic front-quarter power base load is trading higher today with support from a dry outlook and nuclear extensions. German front curve futures are trading slightly lower on the day, limiting the upside of the Nordic curve.

    • Nordic Base Power Q3 up 1.7% at 35.5 EUR/MWh
  • TTF is bouncing between €33.9 and €35.9/MWh with demand supported by warm weather set against the easing of LNG supply risks with the potential restart of Australia Wheatstone LNG soon.
  • The latest ECMWF forecast suggested temperatures will remain above the seasonal normal throughout the 6-9 day forecast period. Forecasts suggested an upward revision in precipitation for 22 June after which forecasts suggested a dry outlook – below the seasonal normal.
  • Finland’s Olkiluoto 3 nuclear reactor is scheduled to return on 5 July in an unplanned outage. The power supply to the plant is limited due to the capacity of Fingrid’s system protection, remit data showed.
  • In Norway, wind output forecasts have been revised lower. Wind output is forecast at 499MW to 1.39GW during base load on 22-30 June according to SpotRenewables.
  • Norway’s NVE said it expects the country’s power balance surplus to halve by 2028.
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