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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EURJPY TECHS: Sell-Off Extends, Shrugs Off Oversold Condition

EURJPY TECHS
  • RES 4: 176.03 1.618 proj of the May 3 - 15 - 16 price swing
  • RES 3: 175.43 High Jul 11 and the bull trigger 
  • RES 2: 173.92 61.8% retracement of the Jul 11 - 12 sell-off  
  • RES 1: 172.92 High Jul 16 
  • PRICE: 166.55 @ 15:42 BST Jul 24
  • SUP 1: 166.36 3.0% Lower Bollinger Band
  • SUP 2: 166.32 Low Jun 14
  • SUP 4: 165.96 3.0% 10-dma envelope

The sharp sell-off in EURJPY extended further Wednesday, with the snap of 170.00 the initial trigger before support at 167.53 gave way today. This strong reversal phase will depend on momentum for another leg lower, initially targeting 166.32 before 164.33 - the 50% retracement for the upleg posted off the December 2023 low. Key resistance is well off spot now, with the 50-dma the next relevant upside level at 170.83.

Foreign Exchange Technical AnalysisAPACJapanCEEMEABulletGlobalForeign Exchange BulletsRegion

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