MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI: US MBA: MARKET COMPOSITE +5.4% SA THRU DEC 06 WK

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

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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Oil Prices Pause On Lack Of New Drivers

COMMODITIES
  • Oil prices are currently relatively little changed on yesterday’s settlement with no new major progress on the EU mulling a ban on Russian oil imports or headlines on Iran talks.
  • More recent reports of a Ukrainian counter-attack against Russian forces in the north of the country but see some escalation ahead.
  • WTI is -0.3% at $111.76. Initial resistance is seen at the overnight high of $115.01 and then $116.38 (61.8% retracement of Mar 7-15 downleg) whilst support is the 20-day EMA of $102.97.
  • Brent is -0.05% at $115.56, again below the intraday high of $119.48 whilst support is the 20-day EMA of $105.95.
  • Gold is -0.7% at $1922.31 in a continuation of the reaction to Powell dialling up hawkishness yesterday. Resistance remains at $1954.7 (Mar 15 high) and support at $1895.3 (Mar 15 low).
  • US natural gas meanwhile bucked the softer moves elsewhere, up 6% on colder weather.
Energy BulletsCommodities
Energy BulletsCommodities

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