MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

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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(H4) Reversal Higher

COPPER TECHS
  • RES 4: $414.90 - High Apr 14
  • RES 3: $404.45 - High Aug 1 and a key resistance
  • RES 2: $400.00 - Psychological round number
  • RES 1: $397.40 - High Dec 27 and the bull trigger
  • PRICE: $387.60 @ 14:02 GMT Jan 25
  • SUP 1: $371.45 - Low Jan 18 and a key support
  • SUP 2: $362.60 - Low Nov 13
  • SUP 3: $355.75 - Low Oct 23 and bear trigger
  • SUP 4: $350.54 - 76.4% of the Sep ‘22 - Jan ‘23 bull leg (cont)

Copper futures reversed sharply higher yesterday and the contract has cleared both the 20- and 50-day EMAs. The rally undermines the recent bearish theme and signals a possible reversal. Key support has been defined at $371.45, the Jan 18 low where a break is required to reinstate a bearish theme. A continuation higher would signal scope for a test of 397.40, the Dec 27 high and bull trigger.

Energy BulletsCommodities
Energy BulletsCommodities

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