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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Attention Is On The Bull Trigger

USDCAD TECHS
  • RES 4: 1.3952 2.0% 10-dma envelope
  • RES 3: 1.3862 High Mar 10 and a key resistance
  • RES 2: 1.3805 High Mar 24
  • RES 1: 1.3786 High Oct 5 and the bull trigger
  • PRICE: 1.3754 @ 08:00 BST Oct 25
  • SUP 1: 1.3651/3577 20- and 50-day EMA values
  • SUP 2: 1.3477 76.4% retracement of the Sep 19 - Oct 5 rally
  • SUP 3: 1.3417 Low Sep 29
  • SUP 4: 1.3381 Low Sep 19 and a key support

The USDCAD trend condition remains bullish and the pair is holding on to its recent gains. Price continues to trade above the 20- and 50-day EMAs. The 50-day average intersects at 1.3577 and marks a key short-term support. A clear break of this average is required to signal scope for a deeper correction. Sights are on 1.3786, the Oct 5 high and bull trigger. Clearance of this level would confirm a resumption of the uptrend and open 1.3862, the Mar 10 high.

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