MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

MNI BRIEF: Brazil Annual Inflation Rises To 4.87% 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

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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Narrow Ranges In Asia

FOREX

The greenback is marginally pressured in Asia today, ranges have been narrow for the most part with little follow through on moves.

  • AUD/USD is ~0.2% firmer, last printing at $0.6485/90. The pair briefly firmed above the $0.65 handle after stronger than forecast Chinese Mfg PMI & Q2 Capex before paring gains through the session.
  • Kiwi is marginally firmer, however ranges remain narrow in NZD/USD. AUD/NZD is marginally firmer and is consolidating a touch below the $1.09 handle.
  • Yen is up ~0.2%, marginally lower US Tsy Yields are weighing on USD/JPY which is dealing in a tight range below ¥146.
  • Elsewhere in G-10 GBP and EUR are little changed from opening levels.
  • Cross asset wise; BBDXY is down ~0.1% and US Tsy Yields are marginally lower across the curve. E-minis are up ~0.1%.
  • Flash CPI from the Eurozone provides the highlight in Europe.
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