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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NEER Retreats From Cycle Highs, USD/SGD At 2-Month Low

SGD

The SGD NEER (per Goldman Sachs estimates) has retreated from fresh cycle highs, printed in the aftermath of yesterday's US CPI print, to sit a touch softer in early trade on Wednesday. We sit ~0.5% below the top of the band.

  • Broad based USD weakness post US CPI saw USD/SGD fall ~0.7% to print a fresh month to date low, the pair sits on the $1.33 handle and is at its lowest level since 11 May.
  • The pair has fallen ~2% from highs registered on Monday, and has comfortably cleared the 20-Day EMA ($1.3445).
  • Bears now target the low from April 14 ($1.3204). Bulls first target a break of yesterday's high ($1.3412) to turn the tide.
  • Looking ahead; on the wires early tomorrow we have the Advance Q2 GDP print, a fall of 0.2% Q/Q is expected.
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