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

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

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

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

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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Peso On Slightly Weaker Footing, Budget Data On Tap

PHP

Spot USD/PHP trades +0.017 at PHP56.060, with bulls looking for a break above Aug 23 high of PHP56.338. This would bring record highs of PHP56.500 into view. On the downside, the initial layer of support is provided by the 50-DMA at PHP55.575.

  • USD/PHP 1-month NDF last +0.020 at PHP56.140. Topside focus falls on Aug 22/23 highs of PHP56.380, a break here would expose all-time highs of PHP56.740. The 50-DMA provides the initial bearish target at PHP55.742.
  • The PSEi (+0.1%) has crept higher this morning, which puts it on track for the third consecutive day of gains, after it found support from the 100-DMA.
  • Foreign investors sold a net $3.8mn of Philippine stocks on Thursday, marking the fourth consecutive day of outflows.
  • Philippine budget balance is expected to cross the wires later today.
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