MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

MNI BRIEF: Brazil Annual Inflation Rises To 4.87% 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

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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GILT TECHS: (U4) Reverses Recent Gains

GILT TECHS
  • RES 4: 100.00 Psychological round number  
  • RES 3: 99.62 1.382 proj of the May 29 - Jun 4 - 10 price swing
  • RES 2: 99.23 High Jun 21 and a key resistance 
  • RES 1: 98.93 High Jul 16 
  • PRICE: 97.92 @ Close Jul 23 
  • SUP 1: 97.63/96.57 Low Jul 11 / 1 and a key support      
  • SUP 2: 96.25 76.4% retracement of the May 29 - Jun 21 bull run      
  • SUP 3: 96.12 Low Jun 10 
  • SUP 4: 95.33 Low May 29 and a key support   

Gilt futures traded higher into the Tuesday close, but were unable to stage a rally toward the better levels of last week, keeping price below former resistance at 98.24, the Jun 28 high. This may suggest further slippage toward 97.63 on any renewed weakness. A further reversal would refocus attention on 96.57, the Jul 1 low and a key short-term support. Any bounce this week would need to top key short-term resistance at 99.23, the Jun 21 high.

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