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 MBA: MARKET COMPOSITE +5.4% SA THRU DEC 06 WK

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

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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Showing Below Parity For First Time Since 2015

EURCHF

EUR/CHF has probed the water below parity for the first time since 2015, the immediate aftermath of the abrupt removal of the franc's peg to the euro by the SNB. The rate last trades at CHF1.0008, down 16 pips on the day.

  • Russia's invasion of Ukraine shows no signs of easing, with knock-on effects on oil prices fanning stagflation fears, which inspires continued flight to safety.
  • Reports of the U.S. being in talks with its allies re: potential ban on imports of Russian oil has pushed crude prices higher still, while pessimistic military/humanitarian scenarios continue to unnerve Europe.
  • The next layer of support is located at CHF0.9776, which limited losses on Jan 23, 2015. A break here would bring Jan 15, 2015 low of CHF0.8517 into view. Bulls need to reclaim Jan 24 low of CHF1.0300 to get some reprieve.
HomepageCEEMEABulletMarketsForeign Exchange Bullets
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