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%)

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

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: 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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USD/RUB Pressures its 200dma as Analysts Anticipate +75-100bp CBR Hike Next Week

RUSSIA
  • USD/RUB trades +0.02% higher this morning, treading water with oil mostly flat.
  • The cross fell -0.54% in yesterday’s session, but failed to close below the 200dma at 73.5543.
  • Easing omicron fears continued to bolster oil markets, but gains were tempered by a smaller than expected EIA inventory draw with price action closing in on $76/bbl.
  • Geopolitical risks continue to simmer following a constructive Biden-Putin meeting, with Russia’s 5Y CDS dipping below 110 support yesterday.
  • CPI data printed a fraction higher than expected at 8.4%, but weekly CPI registered a smaller rise at 0.07% - fuelling hopes for a moderation in price pressures in December.
  • Market expectations, as expressed by 3x6 FRA-Mosprime spreads remained mostly stable at +95bp with most sell-side analysts favouring +75-100bp in hikes at the next CBR meeting.
  • Price action needs to move through the 200dma in order to take the next leg lower towards the 100dma below at 72.84.
  • Intraday Sup1: 73.5033, Sup2: 72.9364, Res1: 74.0639, Res2: 74.332
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

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