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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Rand Appreciates Amid Light Local Headline Flow

ZAR

Spot USD/ZAR trades on a slightly softer footing, but has so far struggled to breach recent cyclical lows. The rate last deals at ZAR18.1358, down ~590 pips on the session, with bears looking for a sell-off past the psychological ZAR18.00 figure. On the topside, the focus is on ZAR18.7338, the 20-EMA.

  • The aggregate BBG Commodity Index sits ~0.6% below neutral levels, pausing the earlier two-day sharp rally. The precious metals subindex is ~0.3% weaker on the day, although it has clawed back some of its earlier losses.
  • Local headline flow has been rather limited, with tomorrow's CPI data providing the next key risk event. Headline inflation may have eased to +6.5% Y/Y in May from +6.8% prior, according to a Bloomberg survey.
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