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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Risk Sentiment Deterioration Weighs On A$

AUD

AUDUSD fell 0.3% on Monday to 0.6855 in the face of a generally stronger greenback. The USD index was 0.2% higher. Aussie, kiwi and scandi were underperformers on the back of softer risk appetite driven by the lack of further details on China stimulus.

  • Bullish conditions are intact and after clearing 0.6818 last week, 0.6921 is the next level to watch. Initial firm support lies at 0.6768, the June 15 low.
  • AUDNZD is up 0.2% to 1.1049, close to the intraday high of 1.1056. Aussie is down 0.3% versus the yen to 97.26. AUDEUR is 0.2% lower at 0.6274 and AUDGBP -0.2% at 0.5353.
  • Equity markets were weaker with Eurostoxx and FTSE down 0.7%. The US was closed. Oil prices also fell on the softer risk tone with WTI down 0.6% to $71.51/bbl. Copper fell 0.6% and iron ore is lower at $113/t.
  • Today the RBA minutes are published followed by Assistant Governor Kent participating in a panel at 1135 AEST and Deputy Governor Bullock speaking at 1315AEST. There isn’t any data.
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