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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Muted Start, Data Docket Light This Week

NZD

NZD/USD prints at $0.5820/30, the pair is little changed from Friday's closing level in a muted start to Monday's trading.

  • Kiwi held in narrow ranges for much of Friday's dealing holding above last week's cycle lows as weaker equities weighed on sentiment, finishing the session down ~0.4%.
  • NZD/USD marked a third consecutive week of falls, finishing last week ~1% lower and sitting ~2.5% lower through October.
  • Downside support now comes in at $0.5812, low from 19 Oct, the $0.58 handle and $0.5719 a Fibonacci projection. Bulls look to move through the $0.59 handle to target the 20-Day EMA ($0.5912) and the high from 11 Oct ($0.6056).
  • AUD/NZD continues to see-saw around the 200-Day EMA ($1.0823) in narrow ranges, the cross has held above the $1.08 handle with $1.0850 providing resistance.
  • Cross asset wise on Friday; S&P500 breached its 200-DMA finished down ~1.3%. BBDXY was little changed and 10 Year US Tsy Yields fell 8bps.
  • The local data docket is light this week with just October ANZ Consumer Confidence due on Friday.
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