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%)

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 BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

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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(U3) Gap Higher Fades Into Close

BTP TECHS
  • RES 4: 118.52 76.4% Nov - Dec Downleg
  • RES 3: 118.12 3.0% 10-dma envelope
  • RES 2: 117.60 High Jun 26 and the bull trigger
  • RES 1: 117.48 High Jul 19
  • PRICE: 116.16 @ 16:38 BST Jul 19
  • SUP 1: 114.26/112.95 Low Jul 13 / 11 and the bear trigger
  • SUP 2: 112.48 Low May 29
  • SUP 3: 111.78 Low May 26 and a key support
  • SUP 4: 111.00 Round number support

Prices gapped higher at the open, hitting new multi-week highs of 117.48 in the process. Prices faded across the session, however, to put BTP futures lower at the close of trade. This reinforces the importance of first resistance at 117.60 - the cycle high - a key level for bulls going forward. Key support has been defined at 112.95, the Jul 11 low. A break would reinstate a bearish threat.

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