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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Risk-On Through London Close Tilts EUR/USD to New Highs

CROSS ASSET
  • Greenback fading following the London close, with price action picking up in EURUSD to put the pair just above earlier session highs. GBP/USD moving similarly, with 1.2177 the next intraday level of note.
  • Move lower in the greenback coincides with very modest uptick further off the lows for the e-mini S&P, which is in the process of chewing through the post-cash open losses at pixel time.
  • Moves coincide with Credit Suisse headlines on Reuters, who write that Credit Suisse's CFO teams are being called up to work over the weekend, with the teams set to work on scenarios for the bank going forward. This possibly suggests plans are advancing on reparatory measures for the bank - but unclear if that marks the price catalyst here
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