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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Retreats From A Five Month High As Middle East Tensions Ease

GOLD

Gold is 0.5% lower in the Asia-Pac session, retreating from the five-month high of $1997.22 set on Friday. This move can be attributed to easing fears over the weekend that Middle East tensions would spread to major powers after the release of two US citizens held hostage in Gaza and the US pushing Israel to delay its invasion.

  • The precious metal has also been pressured by US Treasuries in today's Asia-Pac session. Cash tsys are 5-7bps cheaper across the major benchmarks after Friday's bull-steepening.
  • Bullion closed +0.4% at $1981.40 on Friday, holding its clearance of resistance of $1982.4 (Jul 20 high), according to MNI’s technicals team.
  • Next resistance is seen at $2003.4 (76.4% retrace of May 4 – Oct 6 bear leg).
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