CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

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CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Outperforms, Data On Tap

NZD

NZD/USD prints $0.6201, ~0.6% firmer in yesterday's trading, the NZD was the best performer in G-10 space.

  • The pair rallied in the European session as China's health authorities announced the country will fast-track vaccination of the elderly and implement more precise measures to control outbreaks, briefly breaking through its 200-day EMA before meeting resistance at $0.6250.
  • Kiwi pared its gains as the greenback strengthened through US trade as lower than expected inflation in Germany and Canadian GDP printing below estimates, spilled over into a wider USD bid, finding support at $0.6190 to recover to deal at current levels.
  • Bulls look to target the 200-day EMA at $0.6236, a break through there would open the way to the high from 12 Aug at $0.6468. Having broken the 200-day EMA bears need to breach the 20-day EMA at $0.6074 to re-establish the downtrend
  • Today we have Oct Building Permits (prior 3.8%), Nov ANZ Activity Outlook (prior -2.5) and Business Confidence (prior -42.7).
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