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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(U0) Plays the Range

AUSSIE 3-YEAR TECHS
  • RES 3: 99.780 - High Apr 01 and bull trigger
  • RES 2: 99.750 - High May 21 and 22
  • RES 1: 99.730 - Congestion highs between Jun 15 - 22
  • PRICE: 99.700 @ 16:22 BST Aug 19
  • SUP 1: 99.680 - Low Jun 14 / Jul 22 / Aug 14
  • SUP 2: 99.667 - 23.6% retracement of the March - April Rally
  • SUP 3: 99.597 - 38.2% retracement of the Mar - Apr rally

Having traded lower in recent weeks, 3yr futures got a decent boost on the recent RBA announcement that they would resume bond purchases to further control the front-end of the yield curve. This boosted prices back to 99.725, dispelling any fade in prices and underpinning markets above 9.680. The key hurdle for bulls remains the 99.730 congestion, highs between Jun 15 - 22. A break would instead open 99.780, Apr 1 high further out.

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