MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI: NORWAY NOV CPI +0.3% M/M, +2.4% 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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A$ Off Intraday Highs, RBA’s Bullock Speaks Later

AUD

The greenback has been driving moves in the Aussie during APAC trading today. AUDUSD rose to a high of 0.6352 earlier but has come back now to be 0.1% higher on the day at 0.6340. The USD index is down 0.1% but off its intraday low.

  • Aussie is little changed against the major crosses with AUDNZD at 1.0843 and AUDJPY 94.88. AUDEUR is up 0.1% to 0.5943 and AUDGBP +0.1% to 0.5176.
  • Equity markets are generally lower with the Nikkei down 1.3%, Hang Seng -1.3%, ASX -0.1% and CSI 300 -0.3%. S&P e-mini is slightly higher. Oil prices are 0.7% higher after falling sharply on Monday and Brent is now above $90 again. Copper is 0.3% lower and iron ore is higher at around $113.00/t.
  • Later RBA Governor Bullock speaks on “Monetary Policy in Australia: Complementarities and Trade-offs” at 1900 AEDT and Wednesday sees Q3 CPI data. In the US, preliminary October PMIs, Philly non-manufacturing Fed and Richmond Fed indices are released. Also ECB President Lagarde speaks, UK labour market data and European preliminary PMIs are out.
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