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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Ticks Away From One-Month Low Ahead Of RBNZ MonPol Decision

AUDNZD

AUD/NZD has edged higher and last trades at NZ$1.0730, 6 pips better off on the day. The early uptick has allowed the pair to move away from yesterday's one-month low. The move has occurred on the back of broader kiwi underperformance in the lead-up to the RBNZ's monetary policy decision.

  • Bulls need to force a break above the 50-DMA/May 21 high at NZ$1.0803/08 before targeting May 13/4 highs of NZ$1.0817/22. On the flip side, losses past Mar 9/Apr 30 lows of NZ$1.0710/09 would give bears a green light for targeting Feb 26 low of NZ$1.0640.
  • Implied overnight vol jumped to a two-month high yesterday, as participants prepared for the announcement of the RBNZ's monetary policy decision. It has eased off this morning and last sits at 8.69%.
  • Elsewhere, Australian quarterly completed construction work headlines the local data docket today.
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