MNI China Daily Summary: Monday, November 11

MNI BRIEF: China Oct M2 Rises To Seven-Month High

MNI BRIEF: Japan Oct Sentiment, Outlook Indexes Both Fall

CHINA YTD NEW LOANS CNY16.52 TRLN VS MEDIAN CNY16.7 TRLN: PBOC

MNI: PBOC Net Injects CNY116.4 Bln via OMO Monday

MNI BRIEF: PBOC Has Room For More Easing : Research Head

EZ/UK Bond Supply Calendar: NE, UK, DE Auction on Tuesday

MNI: NORWAY OCT CORE CPI +0.2% M/M, +2.7% Y/Y

MNI: NORWAY OCT CPI +0.6% M/M, +2.6% Y/Y

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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USD Down Through Friday Lows, Gold Spikes

USD

The BBDXY has broken through Friday lows, last near 1238.30. We are still above Tuesday lows from last week near 1236, but comfortably below the simple 200-day MA (1241.37).

  • The market appears happy to fade USD upticks. USD/JPY is down around 0.20%, last near 149.10. NZD/USD is up 0.20%, briefly getting above 0.6090, but didn't have any follow through. AUD/USD is only up modestly, last near 0.6590.
  • The direct catalyst for fresh USD weakness doesn't appear apparent. Gold has spiked higher in recent dealings, getting to fresh highs above $2018. This is through previous highs in the past month. This may have spilled over into weaker USD sentiment.
  • US yields have ticked away from earlier highs (albeit still up for the session, 10yr yield last near 4.50%). US equity futures are down, Eminis last -0.20%. Regional equities are mixed at this stage.
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