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

US NFIB NOV SMALL BUSINESS INDEX 101.7

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% 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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BOBL TECHS: (U4) Bull Cycle Remains Intact

BOBL TECHS
  • RES 4: 117.831 1.0% 10-dma envelope
  • RES 3: 117.380 2.00 projection of the May 31 - Jun 4 - 10 price swing     
  • RES 2: 117.160 High Jun 14 and the bull trigger    
  • RES 1: 116.930 High Jul 24               
  • PRICE: 116.840 @ 07:30 BST Jul 25
  • SUP 1: 116.440 20-day EMA     
  • SUP 2: 115.980 Low Jul 10 / 11   
  • SUP 3: 115.530 Low Jul and the key short-term support
  • SUP 4: 115.180 Low Jun 10 

Bobl futures traded well Wednesday, rallying to touch a new monthly high at 116.930. This retains the bull cycle over the medium-term after price pierced 116.775, the 76.4% retracement of the Jun 14 - Jul 5 bear leg. The clear break here exposes 117.160, the Jun 14 high and a bull trigger. On the downside, a reversal would refocus attention on 115.530, the Jul 5 low and a key support. Initial support to watch lies at 116.440, the 20-day EMA - already being tested early Tuesday.

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