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

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

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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USD is mostly weaker this morning

FOREX
  • The Dollar has been better offered this morning, a continuation of the overnight session, but still worth noting that we trade within past session's ranges.
  • Best performer against the USD in G10, is still the AUD, up 0.33%.
  • The Aussie is in the green, after we tested lowest level in AUDUSD since the 27th August yesterday.
  • This is a continuation of the overnight session with some hope on the Covid, front as the country trials home quarantine for fully vaccinated people coming from abroad.
  • The early risk on tone in Europe is also providing a bid.
  • The Aussie is up against all majors, and also note very large option expiry with: 2.52bn at 0.7325 which could act as a magnet.
  • EURUSD is small up today, on the broader USD weakness, and we have 3.14bn worth of option expiry between 1.1745/1.1800.
  • Looking ahead, ECB Makhlouf, BoE Bailey are the notable speakers.
  • ECB release 1st voluntary TLTRO repayments, where the Banks can pay back money drawn under TLTRO (11.05BST)
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