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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Koruna Tad Weaker, CZGB Curve Bull Steepens

CZK

EUR/CZK has edged higher and last deals +0.014 at 24.629, with bulls looking for a break above the recent cyclical high printed on Oct 19 at 24.737. On the downside, bearish focus falls on the familiar 24.3 support area.

  • CZGB curve has bull steepened by notable margins, with yields sitting 12.0-25.2bp lower as we type. Note that the Finance Ministry yesterday announced a plan to slow down bond sales in November to CZK20bn from the revised CZK24bn target for this month.
  • Local news flow has failed to offer much in the way of notable catalysts this morning, with the koruna exposed to external drivers.
  • Czechia's economic confidence improved in October, with the composite index rising to 92.8 from 89.2 recorded in September.
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