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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Pressured, RBNZ's Silk Says Rate Need To Stay On Hold For Extended Period

NZD

Comments from the RBNZ's Silk have crossed. She noted that Cyclone Gabrielle was less inflationary than first feared. Also saying that the bank is wary of over tightening and that rates need to stay on hold for an extended period. The bank will be watching to see if the market prices rate cuts too soon.

  • NZD/USD is moderately pressured in the aftermath of the comments. The pair is down ~0.2% and sits at session lows. Yesterday's low at $0.6045 remains intact for now, bear look to target the $0.60 round number resistance.
  • AUD/NZD is a touch firmer, however moves in the cross limited thus far. The pair last prints at $1.0730/40.
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