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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Rand Loses Shine Ahead Of SARB Monetary Policy Decision

ZAR

Spot USD/ZAR ticks higher while staying comfortably within the confines of yesterday's range. The pair last deals at 18.9046 and a clearance of Jan 22 high of 19.2180 is needed to expose Oct 26 high of 19.2710. On the flip side, bears keep an eye on Jan 12 low of 18.5385.

  • StatsSA will release December PPI data ahead of the SARB's rate decision due later in the day. Factory-gate inflation may have cooled to +4.3% Y/Y from +4.6% prior, after data yesterday showed that CPI eased to +5.1% Y/Y from +5.5%. The SARB's decision will be announced during a press conference starting at 13:00GMT/15:00SAST.
  • The BBG Commodity Index has added 0.3%, gaining for the fourth consecutive day. However, the precious metals subindex is marginally weaker on the day.
  • SAGB yields are slightly firmer, with 10-year breakeven inflation rate a tad higher at 6.32%.
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