MNI China Daily Summary: Friday, November 29

MNI: GERMANY NOV UE RATE (SA) 6.1% (FCST 6.1%); OCT 6.1%

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

MNI BRIEF: Trump Tariffs To Push China, EU Cooperation - BOC

MNI: PBOC Net Drains CNY156.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1877 Fri; -1.39% Y/Y

MNI: ITALY NOV FLASH HICP +0% M/M, +1.6% Y/Y

MNI: EUROZONE NOV FLASH HICP +2.3% Y/Y

MNI: UK OCT M4 MONEY SUPPLY -0.1% M/M, +3% Y/Y

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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Touted progress in works on Covid-19..........>

FOREX
FOREX: Touted progress in works on Covid-19 treatment dominated the Asia-Pac
session, inspiring a clear risk rally. STAT cited early anecdotal data pointing
to a positive reception of an experimental drug among a group of patients in
Chicago. Meanwhile, U.S. Pres Trump revealed his plan for re-opening the
economy, but worth noting the bulk of it was leaked yesterday. Commodity-tied FX
were bid, led higher by NOK, while USD, JPY & CHF raced to the bottom of the G10
pile. AUD/USD rallied back above its 50-DMA, breached earlier this week.
- Mixed economic data out of China, which included the first negative GDP
reading on record, didn't cause any immediate perturbations. USD/CNH gradually
pared losses but broader greenback weakness limited the topside.
- USD/Asia generally traded on a softer note, with IDR and KRW leading gains in
the region. South Korean unemployment rose to 3.8% from 3.3% and the gov't said
it will unveil an employment package next week. PHP underperformed in the wake
of yesterday's rate cut & dovish rhetoric from BSP.
- The likes of MXN & ZAR remained buoyant owing to firmer risk appetite.
- Focus turns to final EZ CPI and comments from Fed's Bullard & ECB's Rehn.
Energy BulletsCommodities
Energy BulletsCommodities

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