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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Kiwi Goes Offered In Quiet Asia-Pac Trade

FOREX

NZD helped bring up the rear in G10 basket. Lacklustre news flow made it hard to pin the kiwi's weakness on any fundamental catalyst, but a BBG trader source flagged NZD sales against its Antipodean cousin, with AUD/NZD seemingly forming a base around its 200-DMA.

  • The DXY extended yesterday's losses, even as the three e-mini contracts edged lower in Asia. The greenback's weakness may have been related to a slide in USD/CNH, which extended its current losing streak to nine straight days.
  • The redback continued to appreciate even as the PBOC set its central USD/CNY mid-point at CNY6.4902, 8 pips above sell-side estimates.
  • CAD continued to grind away from yesterday's post-BoC highs in narrow Asia-Pac trade.
  • The ECB's latest monetary policy decision and U.S. initial jobless claims provide the main points of note today.
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