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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USDJPY Grinding Higher, Closes In On 140.00

JPY
  • Overall greenback strength continues to prevail across currency markets with the USD index extending its winning streak to four sessions, up 0.4% on Thursday. The index is now 3.25% off the May lows as the greenback reasserts itself.
  • NZD remains at the bottom of the G10 pile, showing good downside momentum following the significant moves following the RBNZ on Wednesday. Japanese yen weakness has also once again been consistent over the course of the US session with USDJPY steadily moving higher since the release of US data.
  • Bullish conditions remain intact, and a fresh trend high reinforces the current theme. The 139.96 print placed the pair at the highest level since November 23
  • Last week’s break of 137.77-91, the May 2 and Mar 8 high respectively, confirmed a resumption of the uptrend that started Jan 16.
  • With 140.00 the next obvious psychological barrier, major resistance does not come in until 140.62, the bull channel top drawn from the Jan 16 low.
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