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: (Z0) Move Lower Considered A Correction

BTPS
  • RES 4: 152.00 Round number resistance
  • RES 3: 151.66 Bull channel top drawn off the Sep 8 low
  • RES 2: 151.17 0.764 of Jun 10 - Aug 20 swing from Sep 9 low (cont)
  • RES 1: 150.46 High Oct 16 and the bull trigger
  • PRICE: 149.43 @ Close Oct 19
  • SUP 1: 149.01 Low Oct 15
  • SUP 2: 148.72 20-day EMA
  • SUP 3: 147.32 Low Sep 28 and key near-term support
  • SUP 4: 146.98 Low Sep 22

BTPS outlook remains bullish despite yesterday's pullback. Last week's gains resulted in the contract extending gains into uncharted territory, maintaining the bullish price sequence of higher highs and higher lows that defines an uptrend. Resistance and the bull trigger is located at 150.43, Oct 14 high. Initial support has been defined at 149.01, Oct 15 low. A break of this level is required to signal scope for a deeper corrective pullback.

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