MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

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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Price Signal Summary -Bear Cycle In Bunds Intact

OUTLOOK
  • In the FI space, Bund futures started the week on a bearish note, extending the current bear cycle. The contract breached support last week at 129.72, the Aug 14 low and a key bear trigger. The break reinforced a bearish theme and confirmed a resumption of the primary downtrend. Sights are on 128.45 next, the 1.236 projection of the Jul 19 - Aug 4 - Aug 8 price swing. Initial firm resistance is at 130.38, the 20-day EMA.
  • Gilt futures remain above last week’s low. On Sep 20 , the contract breached resistance at 96.49, the Sep 14 high. The break of this hurdle confirmed a resumption of the bull cycle that started Aug 17 and signals scope for the 97.00 handle. Key short-term support to watch has been defined at 94.64, the Sep 18 low. The contract traded lower Monday, a continuation and a break of 94.64, would threaten the bullish condition and expose 94.05, the Sep 11 low.
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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