MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% 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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(H2) Approaching The Bull Trigger

COPPER TECHS
  • RES 4: $477.70 - High Oct 18
  • RES 3: $470.95 - High Oct 21
  • RES 2: $462.18 - 76.4% retracement of the Oct - Dec sell-off
  • RES 1: $460.10 - High Jan 12 and key short-term resistance
  • PRICE: $456.50 @ 14:03 GMT Jan 21
  • SUP 1: $439.51/37.60 - 50-day EMA / Low Jan 18
  • SUP 2: $431.35 - Low Jan 6
  • SUP 3: $423.20/411.95 - Low Dec 20 / Low Dec 15 and key support
  • SUP 4: $409.90 - Low Oct 6

Copper futures rallied sharply higher yesterday. This follows the bounce from Tuesday’s low of $437.60 and just below the 50-day EMA. Attention is on the key short-term resistance at $460.10, Jan 12 high where a break would confirm a resumption of the uptrend. This would expose 462.18, a Fibonacci retracement. On the downside, weakness below $437.60 and the 50-day EMA at $439.51 would instead signal scope for a deeper pullback.

Energy BulletsCommodities
Energy BulletsCommodities

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