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 NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI: US NOV SUPERCORE CPI (CORE SERVICES EX-HOUSING) 0.342%

MNI: US NOV CPI UNROUNDED M/M 0.313%, CORE 0.308%

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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PLN: Souring Sentiment Weighs on Zloty, PLN/JPY Sheds Over 1%

PLN

Post-CPI weakness in equities has hit PLN harder than it has its regional peers, with USDPLN extending this week’s gains to reach its highest level since mid-August. Topside momentum for EURPLN accelerated through the 50-day EMA, with gains currently at 0.3%.

  • Notably, strength in the Japanese yen has prompted a 1% dip in PLNJPY, with that cross now 5% below last week’s highs and approaching multi-month lows at 35.84. The WIG20 index also leads regional losses, down 1.6% today and lower for the fifth consecutive session.
  • For EURPLN, short-term conditions are considered bearish despite the cross holding onto its recent gains. A break of resistance at 4.3039, the Aug 28 high, would reinstate a bullish theme. Until then, focus remains on key support at 4.2614, the Aug 16 low.
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