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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Narrow Ranges In Early Trade

FOREX

The Greenback is a touch lower in early trade however ranges have been narrow and there has been little follow through on moves thus far. US Tsy Yields are a touch firmer, as are US Equity futures. WTI is up ~1% trimming yesterday's fall.

  • Kiwi is marginally outperforming in the G-10 space, NZD/USD is up ~0.1% however yesterday's high remains intact.
  • AUD/USD prints at $0.6335/40 and is unchanged from opening levels. The trend in AUD/USD remains bearish, support comes in at $0.6286, low from Oct 3 and bear trigger. Resistance is at $0.6393, high from Oct 18.
  • Yen is a touch softer however a narrow ~15 pip range has been observed thus far. At the bottom of the hour flash PMIs for October are due.
  • There haven't been any moves of note elsewhere in G-10. BBDXY is down ~0.05%.
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