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

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI: US NOV SUPERCORE CPI (CORE SERVICES EX-HOUSING) 0.342%

MNI: US NOV CPI UNROUNDED M/M 0.313%, CORE 0.308%

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 Marginally Firmer In Muted Asian Session

FOREX

The greenback is marginally firmer in a muted Asian session, the USD firmed off early session lows and marginally extended gains after a weaker than forecast Caixin Services PMI. However ranges remain narrow with little follow through.

  • Kiwi is the strongest performer in the G-10 space at the margins. NZD/USD prints at $0.6190/95 ~0.1% firmer today, early gains were pared a touch after meeting resistance above $0.62. AUD/NZD is holding below $1.08 and is down ~0.2%.
  • AUD is marginally pressured, the pair faced resistance ahead of the $0.67 handle with losses marginally extending after the aforementioned Caixin PMI print. The pair sits at touch above session lows at $0.6685/90.
  • Yen is little changed from opening levels, ranges have been narrow with little follow through on moves.
  • Elsewhere in G-10; GBP and EUR are down ~0.1%.
  • Cross asset wise; US Tsys are a touch firmer and BBDXY is up ~0.1%. E-minis are down ~0.1%, the Hang Seng is down ~1.3%.
  • The FOMC minutes of the June policy meeting provide the highlight of todays docket. Also due are the final prints of European PMIs.
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