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

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI: NORWAY NOV CPI +0.3% M/M, +2.4% 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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Holding Lower For The Week, All Eyes On The Fed

GOLD

Gold continued to trend lower this week, given the various stimulus measures announced out of China and last nights better than expected US GDP.


  • Touching a low of $2,355.9 in Asian trading, prices appeared to stabilize at these levels as hopes of a near term rate cut from the FED appeared to dissipate. We were last near $2372.5.
  • Despite the softer week, GOLD has enjoyed a strong year with prices up 13% year to date. The outlook for GOLD in the near term is hitched firmly to that of the FED.
  • Market’s have priced in a September cut and earlier in the week a column from a Bloomberg columnist and former FED member Bill Dudley brought the FED’s
  • upcoming meeting next week.
  • The stronger than expected GDP has likely meant the next FED meeting may no longer be ‘live’, however tonight the Personal Consumption Expenditure’s index (a measure preferred by the FED as an underlying measure on inflation) now becomes a significant data release.
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