MNI China Daily Summary: Monday, November 25

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 22

MNI: PBOC Net Injects CNY76.7 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1918 Mon; -1.35% Y/Y

CHINA PRESS: Yuan To Reach 17% Of Global Payments By 2035

MNI: GERMANY NOV IFO BUSINESS CLIMATE INDEX 85.7

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, EU Due Monday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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Pressured On Friday, PSI On Tap

NZD

NZD/USD prints at $0.6190/95, the pair is little changed from Friday's closing levels in a muted start to the week's trading.

  • On Friday the pair pressured, falling below its 20- and 200-Day EMA and closing below the $0.62 handle falling ~1.7%.
  • The latest round of USD data saw the greenback firm, UofMich sentiment survey showed consumers expect prices to rise at 3.2% Y/Y over the next 5-10 years which is a 12 year high. The US debt ceiling impasse also weighed on sentiment.
  • Bears look to target low from May 1 at $0.6161, a break through here open year to date lows ($0.6085). Bulls first look to break the 20-Day EMA ($0.6241).
  • AUD/NZD has firmed ~1.3% since testing $1.06 last week, we sit a touch above the 20-Day EMA ($1.02727).
  • The NZ Government announced a $1bn package for flood and cyclone recovery which focuses on rebuilding infrastructure while preparing for future events with investments in flood protection measures.
  • On Friday the S&P500 fell 0.2% and BBDXY rose 0.5%. 10 Year US Treasury Yields rose 7bps.
  • On the wires today we have Apr Performance Services Index, there is no estimate, the prior read was 54.4.
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