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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TECHS: USDMXN Outlook Remains Bearish

LATAM FX
  • USDMXN outlook remains bearish and the pair is trading lower. Price recently cleared all relevant retracement levels of the rally between Jun 9 - 18. Attention turns to the key support at 19.5987, Jun 9 low. Price needs to get above 20.2153, Jun 24 high to ease the current bearish pressure.
  • The USDBRL needle continues to point south. The pair recently cleared the psychological 5.00 handle. This reinforces bearish conditions and the focus is on 4.8187, Jun 8 2020 low. Near-term resistance is at 5.1386, Jun 11 high.
  • USDCLP continues to trade in a volatile manner. A near-term bearish risk remains intact following the sharp reaction off 757.60, Jun 22 high and despite the most recent gains. Further weakness would open 713.80, Jun 8 low and a key short-term support. Initial resistance is at 742.71, yesterday's high. 757.60 is a key resistance.
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