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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

TECHS: Price Signal Summary - E-minis Approaching Psychological Level

MARKET INSIGHT
  • In the equity space, S&P E-minis remain in an uptrend as the contract approaches the psychological 4000.00 handle. EUROSTOXX 50 is trading higher too as the uptrend extends. This reinforces the underlying bullish theme and opens 3987.14 next, 2.00 projection of the Dec 21 - Jan 8 rally from the Jan 28 low.
  • In the FX space, EURUSD maintains a weaker tone. The focus is on 1.1695 next, 38.2% retracement of the Mar 2020 - Jan rally. The GBPUSD outlook remains bearish with scope for a move towards 1.3641, 38.2% of the Sep 23 - Feb 24 bull cycle. Resistance is at 1.3883, the former bull channel base drawn off the Nov 2 low. USDJPY remains bullish and is holding onto recent gains. The focus is on 111.30 next, Mar 26, 2020 high.
  • On the commodity front:
    • Gold remains vulnerable despite yesterday's gains. The focus is on the key support at $1676.9, Mar 8 low and the bear trigger.
    • Brent (M1) key directional triggers are:
      • Resistance at $65.39, Mar 29 high and key support at $60.33, Mar 23 low and the bear trigger
    • WTI (K1) directional triggers are:
      • Resistance at $62.27, Mar 30 high and support at $57.25, Mar 23 low and the bear trigger
  • In the FI space, Bunds (M1) remain vulnerable. Key support to watch is at 170.52, Mar 18 low. The key support and bear trigger in Gilts (M1) is at 126.79, Mar 18 low. Treasuries traded to fresh trend lows Tuesday. The focus is on 130-07, Feb 2, 2020 low and the psychological 130-00 handle.
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.