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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Safe Haven Bid Returns

JPY

A degree of risk aversion has lent support to the yen in early Tokyo trade, with weekend headline flow offering little to soothe the nerves frayed by the ongoing geopolitical crisis in eastern Europe. USD/JPY has shed 11 pips thus far and changes hands at Y114.89.

  • Bears would be pleased by a dip through Feb 18 low of Y114.79, which would clear the way to Feb 2 low of Y114.16. Conversely, gains past Feb 10/Jan 4 highs of Y116.34/35 would signal a resumption of an uptrend.
  • Asahi reported that PM Kishida is planning to discuss the situation in Ukraine with U.S. President Biden today. The leaders are expected to exchange views on their joint response in case of a Russian attack on its Western neighbour.
  • Japanese flash PMI data will hit the wires later today, with Tokyo CPI coming up Friday.
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