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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Indonesia's Consumer Inflation Data Eyed

IDR

Spot USD/IDR trades +38 figs at IDR15,265 with bulls keeping an eye on the 61.8% retracement of the 2020 sell-off at IDR15,574. Conversely, a break below the 100-DMA at IDR14,850 is needed to reinstate bearish momentum.

  • USD/IDR 1-month NDF last +10 figs at IDR15,279. The Sep 28 high of IDR15,354 provides the initial topside target, while bears look for losses towards the 100-DMA at IDR14,871.
  • Offshore investors bought a net $15.54mn in local equities last Friday, which was the first net inflow since Sep 22. The Jakarta Comp managed to erase initial losses, before turning heavy at the start to the new week. Meanwhile, the BBG Commodity Index is slightly firmer today.
  • Indonesia's September CPI data will be out within a couple of hours. Headline annual inflation is expected to have quickened to +6.00% Y/Y in September from +4.69% prior, while core CPI growth may have accelerated to +3.50% Y/Y from +3.04%, per Bloomberg consensus forecasts.
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