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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Rand Struggles For Clear Direction, SARB Decision Eyed Next Week

ZAR

Spot USD/ZAR has oscillated around neutral levels and last deals at 18.9324, little changed on the day. Bears look for losses towards Jan 12 low of 18.5385, while bulls see Jan 17/Oct 6 highs of 19.1872/19.2710 as their initial targets.

  • The composite BBG Commodity Index has added 0.4%, while the precious metals subindex sits 0.5% higher. SAGB yields can last be seen slightly lower across the curve.
  • The focus turns to next week's SARB rate decision, due Thursday. The day before, South Africa will release crucial December CPI data.
  • Governor Lesetja Kganyago has recently played down the odds of any imminent monetary easing, noting that inflation must first decline to the target mid-point.
  • Eskom announced that Dan Marokane will take over as new CEO from March 1, ending a year-long search for the new chief executive.
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