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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USDCAD Nudging Lower Ahead Of Retail Sales

CANADA
  • USDCAD has pushed through to session lows of 1.346 ahead of Canadian retail sales, taking it back to Tuesday’s levels around the time of volatility following stronger than expected Canadian core CPI.
  • Technical analysis suggests bulls remain in the driver’s seat having cleared the 50-day EMA and with resistance at 1.3542 (Jan 17 high), whilst support is seen at 1.3407 (20-day EMA).
  • In the near-term, it’s at much lower strikes but today sees a heavy $1.8bn expiring at 1.3335 with today’s NY cut.
  • CAD outperforms most on the day but lags Scandis and AUD amidst broader USD weakness.
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