MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

MNI BRIEF: Brazil Annual Inflation Rises To 4.87% In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

US NFIB NOV SMALL BUSINESS INDEX 101.7

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OPTIONS: Options Keen to Capture USD/CHF Upside, Despite Weakness in Spot

OPTIONS
  • USD/CHF seems to have found some intraday support at the 100-dma of 0.8932 today, pausing the three-day sell-off in the pair. Overnight options activity shows interest in upside exposure in an above-average volume session for CHF hedges. Trades consistent with 0.8930/0.9200 calendar call spread crossed in Asia-Pac hours, capturing the SNB's June rate decision, at which markets are evenly split over pricing another 25bps rate cut.
  • CAD vols are seeing support, with USD/CAD overnight vols rising above 8 points as the contract captures the Wednesday Bank of Canada decision. The vol premium added implies a relatively tight ~40 pip swing in the pair into the Wednesday expiry - reflecting the extent to which a rate cut is priced in tomorrow (~80% vs. ~65% before last week's GDP data). 
  • Most notable expiries for today's NY cut include: E550mln at 1.0887-90 in EUR/USD, $502mln at Y155.00 in USDJPY, A$301mln at $0.6650 in AUD/USD and E643mln at 0.8500 in EUR/GBP. 
BulletForeign Exchange Bullets
BulletForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.